The Philippine Garment Industry & Fabric Expo 2018 is all set to be held at SMX Convention Centre situated at Malia, Philippines from 23rd to 26th August. It has even reported that over 81 companies concerned with garments, fabrics and leather textile from across 9 counties are to take part in this international fabric expo. Being endorsed by the Philippines Board of Investment and the CONWEP (Confederation of Wearables Exporters of the Philippines), this expo is mainly aimed at introducing new textile machineries, tools and software along with leather goods and designs.
A direct implication of this expo is to highlight the condition of the textile industries of the participating countries with the sole aim of attracting foreign investments and development. With the aim of discussing the opportunities for both the domestic and international market, the Philippines Textile Research Institute (PTRI) will hold a session on Philippine Tropical Fabrics. Along with it, a conference on global supply chains will be held.
The Philippines, being included within the European Union's GSP+ status, gets full exemption on tariffs for over 66% of the tariff lines. The country has also signed in a number of Free Trade Agreements with certain neighbouring countries thus already having a good grip on the export market. With 104 million populations, Philippines have a good work force for increased exports and have been aiming to increase its exports to the USA amounting to 3 billion dollars thus creating almost six hundred thousand new jobs.
With this fabric expo on the verge, Philippines is expected to gain a lot from it, especially in terms of foreign investments.