Viet Nam’s total exports value to China in January 2018 totalled nearly US$3.7 billion, up by $1.9 billion, or 106 per cent, over the same period last year, according to data from the General Department of Vietnam Customs (GDVC). This time in previous years, China’s annual imports value from Viet Nam was a mere $1.9 billion, making it the third biggest importer from Viet Nam. The main reason behind such strong bilateral trade growth is the scheduled commitments within the ASEAN-China Free

Accord on Building and Fire Safety in Bangladesh, a consortium of European brands and buyers, has cut business relations with 37 more Bangladeshi readymade garment factories due to refusal and failure of the factory authorities at implementing workplace safety measures in the units suggested by the buyers’ platform. With the latest 37 factories, the Accord has so far cut business relations with 133 RMG factories on ground of safety issues that produce products for the European brands and buy

Global experts on Monday said that Bangladesh’s readymade garment sector should be transformed to a fashion-oriented industry from commodity-oriented one to remain competitive in the global market. This was the time for Bangladesh to be innovative with adoption of latest technology as the global apparel industry is moving towards smart wears, said speakers at the Fashionology Summit. The summit, first ever in Bangladesh, was organised by Bangladesh Apparel Exchange at International Convent

The China-proposed Belt and Road Initiative has paved the way for new opportunities for Nepal to realize its dream of development and economic prosperity, government officials and experts said here on Monday. They made such remarks during a one-day seminar entitled "Strengthening cooperation to promote the construction of the Belt and Road" organized by Nepal China Chamber of Commerce and Industry (NCCCI) in Kathmandu. Stating that the Belt and Road Initiative will bring opportunities in m

Bangladeshi footwear and leather goods exporters are bracing themselves for tough competition in the global market after the Indian government recently announced a mega financial incentive for the sector's revival. Both the countries export footwear and leather goods to the same destinations like the EU, the US and Japan. The Indian government has announced a special package worth $404.7 million (about Tk 3,338 crore) from fiscal 2017-18 through to fiscal 2019-20 for employment generation

Textile exports witnessed over 7 percent growth during seven months (July 2017 to January 2018) of the current fiscal year due to PM’s incentives package and rupee depreciation against the dollar. The country exported textile and clothing products worth $7.7 billion during July-January period of the year 2017-18 as against $7.2 billion of the corresponding period of the previous year, according to the Pakistan Bureau of Statistics (PBS). Healthy growth in textile and clothing products exports

The revenue of Michael Kors Holdings Limited, a global fashion luxury group, for the third quarter of fiscal 2018, has increased 6.5 per cent to $1.44 billion, including a $114.7 million contribution from Jimmy Choo, which the company owned for two months of the quarter. On a constant currency basis, the total revenue increased 4.6 per cent. For the reported period, the company's gross profit increased 9.7 per cent to $884.0 million, and as a percentage of total revenue was 61.4 per cent. Adj

The orders index for textile machinery compiled by ACIMIT, the Association of Italian Textile Machinery Manufacturers, registered an average increase of 18 per cent in 2017, compared to the previous year. While domestic orders were up significantly by 36 per cent, foreign markets also registered an increase of 16 per cent in orders for the entire year. For the period from October to December 2017, the orders index rose by 29 per cent compared to the same period for the previous year. The inde

Production of raw cotton in Iran during the ongoing Iranian year is expected to touch 160,000 tons, according to Iran Cotton Fund. This would yield between 45,000 and 50,000 tons of ginned cotton. In the current Iranian year beginning March 21, 2017, around 124,550 tons of raw cotton has already arrived in the market and bought by ginning factories. Last year, Iran’s ginned cotton production was around 40,000 tons, Iran Cotton Fund managing director Mohammad Hossein Kaviani was quoted as sayi

Bangladesh State Minister for Finance MA Mannan, attending the inauguration ceremony of the 15th Dhaka International Textile and Garments Machinery Exhibition, being held at the capital’s Bangabandhu International Conference Center as the chief guest said the Textile is the mother of industries and that the government will do everything possible to boost the country’s textile industry. The state minister also urged for assistance from the business community to help the government achieve these g