ITCE and the MENA Market Recent Developments:
Encompassing 20 countries, the Middle East and North African (MENA) region is characterized by a rapidly growing population, rising real income and changing diets. It has a population approaching 400 million in total. The regional average growth rate is 4.67%. The MENA region have witness major macoreonomic development within the last decade due to economic development plans and thrilling uprises oil rates.
Changing habits and lifestyles, especially among young men & women, is fuelling demand for Western-style clothing for the whole MENA region. Satellite television, overseas travel, and more women joining the labour force contribute to an evolving and changing life style and dress codes. This way, the regional textile manufacturing countries like Egypt, Syria, and UAE are also serving some of the increasing market demand of their neighbour's specially Saudi Arabia, a major global market for women's and children clothing.
Many countries in the MENA region are witnessing a big growth rates in textile industries. The textile industry markets of Egypt, Syria, Jordan and UAE are witnessing significant developments with new machinery getting access to these countries to restructure and/or establish new manufacturing plants and textile factories in new free zones or at mega governmental textile companies. Egypt & Jordan have already signed QIZ agreements with USA and other countries soon to follow the pioneers. Such exporting activities increases the demand for textile machinery and related technologies taking in consideration that there is no local manufacturer of textile machinery in the whole MENA region.
Textile Industry in Egypt:
Egypt is currently playing a significant role as a tradepoint for textile machinery after removing all Customs Tariffs on textile machinery and accessories in 2004. Having great expectations towards the QIZ protocol with the USA & EU, government financial support is given to underpin the production quality so that Egyptian textiles can compete effectively in export markets. With such bold upgrading decision, Egypt's textile market is expected to thrive well into the future.
Being the worldwide brand exporter of apparel cotton and textile products, Egypt comprises more than 1500 private sector apparel and intermediate manufacturers, the majority of which are constantly on the search for the state-of-the-art machinery (according to US Department of State and US Foreign Commercial Service). The textile industry in Egypt covers the entire spectrum of cotton processing operations, including spinning, weaving, converting, knitting, and garment manufacture with a special traditional fascination in handling all manufacturing process in-country.
Previous ITCE series have proved that the MENA region could yield profitable business to both local and foreign companies who were ready to take the initiative, and explore these avenues of profit. The recent developments in the Egyptian textile industries will sure be positively reflected over the activities of ITCE'13.