Japan has recently announced that plans are being contemplated for sourcing apparels from Asian countries other than China. This gives a ray of hope for Asian apparel exporters despite the looming recession.
The fact that Japan is now negotiating agreements with other Asian countries brings profound connotations to the apparel exporters of Asian countries.
Japan currently imports most of its apparels from other countries, of which 93% are from China. As imports from China are costlier, Japan is now considering for sourcing from other Asian countries.
Since the middle of 2008, Japan is showing keen interest in Bangladeshi apparels. This gives a positive expectation that the total apparel exports might double for some industries in Bangladesh and South East Asia.
Factories in countries like Thailand, Indonesia, and Cambodia might be able to take some business away.
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