The Silk Market in the Middle East
China's trade with the Middle East is very close, more than two thousand years ago, the silk road is the most powerful witness, which also laid the Middle East market.
From the past few years，2002 to 2004, the export rate of Chinese silk to the Middle East market was more than 40% per year.In 2004,although the trade was affected by the export tax rebate policy, the 2008 financial crisis and other factors, the Chinese silk’s export market rate to the Middle East was still stable. After the financial crisis,when the economic recovered, the silk and silk products maintained high growth trend.
In 2013,Jiangsu and Zhejiang, a small company with 110 employees called Huzhou Boye silk Co., opened up the Middle East in the middle and low-end silk market. Compared with the same period first in 2012,half sales revenue increased about 10%.This year’s business tax was 1 million 220 thousand yuan. So how much the need is if the market opened completely.
In 2015, after the Belt and Road policy released the Middle East countries sounded: The State of Kuwait plans to build the Silk City in the northern Kuwait coastal area Sophia for $130 billion, if it is completed in 2035, the city will become an important strategic hub connecting Chinese Europe and the new silk road.Sultanate of Oman,which ZhengHe had visited seven times prepared to project and construct special zones, and silk is the focus of development.
The Middle East is a traditional market about silk products.In recent years,middle and low-end fancy silk,artificial silk and printing silk have been popular in the market,especially heavy colorful jacquard silk fabric.Silk and simulated silk from all over the world can be seen in many shops In Saudi Arabia, the UAE,Kuwait and other countries in the Middle East. After appearing in various fashion weeks and important activities, high-grade silk products also attracted people’s eyes around the Middle East.
With the development of globalization and international trade, the Middle East has a huge market demand for silk,especially in printing, satin, dyeing, and China has great advantages in these areas.But if we can shorten the delivery period,contract on time, improve the printing quality, reduce the minimum order quantity , make more improvement in the above problems then, China will increase the share of silk in the Middle East market.