A wide range of measures to assist the clothing industry are in place and are being implemented on an ongoing basis to address the weaknesses identified in the sector, which include lack of scale, inadequate management skill, lack of attention to marketing and lack of finance. The measures in place include financial packages with increased emphasis on State support for marketing and technology; marketing initiatives, home and export; company development planning; training programmes, etc., and involve the State agencies working very closely with the sector. Incentive packages are structured to meet the agreed strategic development needs of companies with more emphasis on management development and greater support for strategic market led initiatives.
Undoubtedly, the improved exchange rate vis-à-vis the UK, our main market, has impacted on the clothing industry together with the slow down in consumer spending in the UK. However, while these developments, which are largely outside our control, have adversely affected our competitiveness, it must be acknowledged that, despite recent increases in our interest and inflation rates, they continue to be considerably lower than those of our main competitors.