Textiles Industry Shows Signs Of Recovery? Maybe!

Who says that Bulgaria is becoming a material based society? I do with all the advertising going on here. A different kind of material world is looking up form the textiles industry according to this report. Could this be the end of the recession in sight, r is it another report designed to instil confidence in business?

The Bulgarian textile sector is likely to claw its way out of crisis as signs of recovery emerge, the head of the Bulgarian association of the producers and importers of textiles, Valeria Zhekova, said during the opening ceremony of the Balkan textile exhibition Bgate, Dnevnik daily reported on September 17 2009.

Textile production, which employs more than 140 000 workers, is a key element of the Bulgarian economy.

"The current decline in production, demand, and exports is likely to dissipate soon. The transition from autumn to winter will be a key factor for the industry, but the highest anticipation and hopes are for the upcoming spring-summer season in 2010," Zhekova said, quoted by Dnevnik.

During the seventh annual Bgate exhibition, she said that textile commerce in Bulgaria accounted for a 21 per cent dip in exports in 2009.

Experts believe that local producers' potential to meet substantial orders in a short period of time while maintaining high standards, quality and service is the industry's main asset.

However, they stress that perpetual uncertainty among producers in the sector could harm the industry's future development. In particular, the lack of firm state support for local producers is cited as a pivotal factor.

Source: http://www.sofiaecho.com