Minstar Australia (Enterprises) Pty Ltd discusses the viability of sourcing from China.
After a long period of adjustment, and working in isolated environments, nothing beats being able to engage with people face-to-face. A recent ‘UFI Global Exhibition Barometer Report’ indicated that virtual events will not be replacing physical ones. Their survey results returned 87% of respondents in the June 2022 survey confidently stating that Covid-19 has confirmed the value of pressing the flesh.
It seems that those precious water cooler moments can truly only be held by the water cooler, not as a two-dimensional image on a screen. We crave those face to face connections.
It is well-timed, then, that the exhibition and events calendar for live, in person events, is growing by the week. One such event is the China Clothing Textiles & Accessories Expo, returning for the first time since 2019 to Melbourne in November.
Australia’s longest running trade expo of its kind welcomes back over 360 companies, bringing together a broad display of manufacturing capability for businesses in the apparel, textiles and footwear sectors.
There is no doubt that trade with China has been under the spotlight over the past few years. Changing political and global health conditions around the world have impacted the way Australian businesses engage with their most significant overseas trading partner.
There has been an opportunity for doors to open to emerging manufacturing sectors in other regions, however there are many reasons why China remains a region suited to the particular needs of Australian businesses
Sometimes criticised for affordability, the Chinese manufacturing sector continues to expand into it’s regional areas so that the solutions they provide can be offered at a more competitive price point. Away from major manufacturing powerhouses, regions such as Hubei Province, Henan Province, Jiangxi Province and Anhui Province, are key areas for this growth.
Supporting this regional development is the maturity and sophistication of services. This starts in the design and development stage with manufacturers through to end supply chain services. In a digital age, the movement of goods from production to destination back here in Australia still needs the support of efficient and affordable transport and fulfilment services. China’s reputation as an innovator continues to grow, with publications including Harvard Business Review calling out its impressive capacity to adapt to change. Australian businesses can get the full benefit through the partnerships they build.
Economically, unexpected windfalls for Australian businesses have helped to make offshore manufacturing far more accessible. The Regional Comprehensive Economic Partnership (RCEP) Agreement entered into on 1 January 2022 supports businesses through low or no tariffs on goods movement between countries. The barrier to engaging with overseas producers is removed through these valuable frameworks.
Further, the devaluation of the Chinese Yen against the Australian dollar delivers a welcome win that instantly hits the bottom line of business after a difficult couple of years. Add to this a dramatic reduction in the cost of container shipping, forced largely as a pre-emptive response to the threat of recession, shipping companies are uncharacteristically reducing their costs which directly benefits importers’ bottom line.
As you work to build your business post the pandemic, now is the time to explore the options available to you for growth. Your precious time can be managed well by meeting in person key stakeholders from over 360 potential production partners in a 3-day expo. Experience a showcase of their capability for apparel, textiles, accessories and footwear manufacturing and supply.
The China Clothing Textiles & Accessories Expo is once again co-located with the International Sourcing Expo and the Footwear & Leather Show. Attendees will get access to suppliers from over 20 countries and regions including China, India, Hong Kong, Taiwan, South Africa, United States and more.
There is also a comprehensive Global Sourcing Seminar series featuring topics including conscious manufacturing, IP ownership, navigating sourcing partnerships and more being held across the three days.
Explore the possibilities.
The China Clothing Textiles & Accessories Expo will be held from Tuesday 15 to Thursday 17 November 2022 at the Melbourne Convention & Exhibition Centre. More details and free trade registration at China Textiles.