ITMF urges govts to support textile industry
Against the backdrop of the ongoing Covid-19 pandemic, which has spread across the entire globe, the International Textile Manufacturers Federation (ITMF) has urged governments across the globe to increase the support to their respective textile and apparel industries to overcome the current period of an unprecedented demand and supply shock.
The results of second ITMF Corona Survey reveal that on average orders are down by 31 per cent and the turnover for 2020 is expected to drop by 28 per cent. "In our lifetimes such a demand shock is unprecedented," said ITMF president Kihak Sung. “The textile and apparel companies around the world are struggling and with them millions of workers and employees. In such times, both the public and the private sectors must work closely together, to avoid an economic and social meltdown,” Sung added.
Last Update 2020-04-15