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Stake Holder : Textile Industry Needs Fundamental Changes

Advisor to the Prime Minister of Trade and Investment of Pakistan Abdul Razaq Dawood stated that the country's exports in December 2020 increased 18.3 percent to US $ 2.36 billion compared to US $ 1.99 billion in December 2019.

PT Argo Pantes Tbk (ARGO) is optimistic that operational and financial performance in the next year will improve, because the government will soon impose import controls on textile products with new regulations.

The impact of the Covid-19 pandemic also had an impact on the export-import activities of entrepreneurs. This happened because of the reduction in the frequency of air and sea transportation.

The apparel industry is one of the manufacturing sectors that needs to be encouraged to remain productive and competitive. This is because this leading sector is still one of the largest contributors to the growth of the manufacturing industry, which can be seen from the record export value of 8.30 billion US dollars in 2019.

Indonesia could lose the textile market to Japan and South Korea due to the impact of intense competition in the world's largest trade agreement, Regional Comprehensive Economic Cooperation (RCEP), according to the Indonesian Textile Association (API).