Manufacturers warn the possible closure of Israel's textile industry

According to figures released by MAI 850 employees lost their jobs in the first half of 2008
 
The Manufacturers Association of Israel (MAI) called last week upon the government to act quickly in order to save Israel's textile industry. In a statement issued by the Affiliation of Textile and Fashion Manufacturers the Affiliation repeated its warning that Israel's textile industry could be facing closure, as a result of the slowdown in the economy.
 
The warning was made despite the consistent strengthening of the US dollar against the shekel in recent weeks.
 
According to figures released by the Affiliation of Textile and Fashion Manufacturers, 850 employees lost their jobs in the first half of 2008.
 
While textile exports fell 3.3% to $520 million in the first half, compared with the corresponding period, textile imports (especially from Asia), rose18.6% to $656 million.
 
The Affiliation of Textile and Fashion Manufacturers repeated its call for the government to announce an emergency program to rescue the textile industry, which currently provides a livelihood for 16,000 families.