adv-06 adv-06

Philipines sees $1.2 billion new apparel sourcing market

adv-07

philippines-apparel

According to Robert Young, President and Chairman of the Foreign Purchasers Association of the Philippines, foreign buyers of garments and textiles intend to expand sourcing from the Philippines to $1.2 billion this year (FOBAP). In addition to reducing quarantine rules, Young notes that the Philippines’ orders are increasing as a result of Vietnam’s protracted shutdown. He says that orders from Myanmar are also going to the Philippines. However, significant supply chain interruptions in the United States continue to jeopardize the United States’ economic recovery strategy, putting the Philippine garment and textile sector in jeopardy. FOBAP is also one of the signatories of the American Apparel and Footwear Association’s (AAFA) appeal letters to the Biden administration. The letters urge the US administration to consider using trade leverage other than tariffs. The Ocean Shipping Reform Act of 2021 was also applauded by the organization. Meanwhile, empty clothes shelves, product price rises, a smaller number of customers, obsolete fashion goods, store closures, and staff terminations are among the industry’s key obstacles, according to Young.