|ITCE 11 draws
strength from booming global trade of textile and clothing products
Textile News Article Posted February 11, 2008
Global textile industry expected to achieve 100 per cent growth in eight-year span to reach USD 655 billion by 2010
Latest market studies have revealed that the global textile industry is estimated to grow 100 per cent to USD 655 billion by 2010 from USD 353 billion in 2002, or an annual growth rate of 8 per cent during the eight-year period. Moreover, the Middle East and North Africa (MENA) market, particularly Egypt, is expected to witness one of the highest growth rates, since new investment facilities are being offered to non-Egyptians. The fast-growing regional textile industry will be in the spotlight next month as ITCE CAIRO 2008 (ITCE'11), the largest regional trade fair for textile, embroidery, and sewing machinery and accessories serving the MENA markets, gets underway from February 28 - March 2, at the Cairo International Fair Ground in Egypt.
The aggressive market forecast has significantly influenced the record participation of over 700 exhibitors from 24 countries in the 11th version of ITCE CAIRO. The Show is expected to achieve another breakthrough year in delivering sales and networking opportunities as participants intensify marketing initiatives in view of anticipated robust growth rates in the global trade of textile and clothing products.
ITCE's strong showing this year bodes well for the future of the international textile and clothing industry. Our participants and visitors will be provided a meaningful platform to discuss how today's business and regulatory environments have led to higher levels of trade in the MENA region and beyond, said Ahmed Ghozzi, Chairman and CEO, ACG-ITF, the organiser of the event.
ITCE'11, held in cooperation with Egypt's Ministry of Trade and Industry and the Federation of Egyptian Industries, will cover 12 halls representing a 25 per cent increase in exhibition space. Leading international players are expected to tackle challenges and discuss issues related to increased global market competition during the four-day exhibition.
More than 32,000 trade visitors from 18 countries are also expected at the event, which will present significant market insights, new innovations and best practices. ITCE'11 will also showcase the latest textile machinery technologies to all apparel, garment, clothing, manufacturers, weaving mills, and embroidery factory owners all over the region.
ITCE11 will host leading textile machinery manufacturers from Italy, France, Spain, Japan, Germany, Turkey, Thailand, Taiwan, Korea, England, India, China, UAE, Syria, Romania, Greece, Brazil, Czech Republic, Hong Kong, Netherlands, Switzerland and Russia, in addition to Egypt, the host.
"Global manufacturers and suppliers have seen the great potential of the MENA region, given the many administrative, regulatory and fiscal reforms implement that have further strengthened this regional market of around 330 million consumers. Host country Egypt plays a key role in the success of the event as it acts as a bridge between the Mediterranean markets and MENA region, a strategic advantage that has also made the country the largest textile manufacturer and trader in the region," said Ghozzi.
Egypt's textile trade has been growing at over 6.5 per cent annually and is one of the country's top 10 export industries, contributing around AED 2.6 billion or 14 per cent of total exports. Egypt has exported more than AED 7.35 billion worth of woven and knitted apparel to the US alone in 2007, while the country is poised to further fortify its position in the regional market, which is expected to grow by eight per cent annually to AED 2.4 trillion in 2010.
ITCE has been designed to support efforts that
strengthen the region's textile and clothing industry as stakeholders must
have access to industry developments, networking opportunities and strategic
initiatives that will help ensure sustainability. ITCE'11 will give
participants a comprehensive overview for all the sectors of textile
industries, all under one roof. This event is a major opportunity for the
region's importers and distributors of textile machinery, textile chemicals
and raw materials to strengthen their expansion program,
ACG-ITF, the leading trade events organizer in the MENA region, was established in 1986 to oversee Printpack 88, the first printing and packaging trade show in Egypt. The specialised industrial exhibition company handles 47 per cent of the international trade fairs market.