Vietnamese domestic garment and textile companies have, for the foremost half, ignored on the much-touted edges of trade agreements (FTAs) that was signed by the country, experts aforesaid at seminar yesterday. Vietnam has signed twelve trade agreements, of that ten FTAs have inherit force: VN-ASEAN, ASEAN-India, ASEAN-Australia-New Sjaelland, ASEAN-South Korea, ASEAN-China, ASEAN-Japan, Vietnam-Chile, Vietnam-Japan, Vietnam-South Korea and Vietnam- Eurasian Economic Union, said Nguyễn

The Haryana government based on the requirements and suggestions of the industry has formulated a new textiles policy which will be soon implemented in the state, said state Industries and Commerce Minister Vipul Goel while addressing industrialists at the 'Samadhan Divas Samaroh' in Panipat. He added that many times the fate of the country has been decided in this holy region and many battles have been fought here for justice. Thus the state government will also ensure full justice with the

Clearing the air over whether sarees will be treated as garments or fabric, the Central Board of Excise and Customs (CBEC) said that sarees are treated as fabric and it remains so even after embroidery etc as no new item emerges having a distinct name, character and use. Hence, all designer, embroidered sarees or otherwise value added will attract a 5% goods and services tax. Infact, sarees, embroidered or not, would be taxed at the same rate at which the fabric is taxed, the CBEC explained.

After the two years considered the high point of FDI in the textile industry (2014-2015), since the start of 2016, the number of FDI projects in this industry has decreased considerably. In early 2017, Chinese investors invested $220 million in the Billion Vietnam polyester synthetic fibre plant in the southern province of Tay Ninh. Aside from this, however, capital flows consist mostly of capital expansion investments in existing projects. According to the Vietnam Textile and Apparel Associa

The United States is expected to overtake the European Union as China's largest trade partner this year, a former vice-minister of commerce said. At the same time, China's trade structure will continue to optimize, and private companies are likely to dominate the export sector, Wei Jianguo, who is also vice-president of the China Center for International Economic Exchanges, told China Daily in an exclusive interview. Sino-US trade will continue to boom in the second half of this year, "wit

A large majority of the country’s apparel exporters on Sunday heavily criticised the activities of two western buyers’ platforms — Accord and Alliance — and said they do not want to see the platforms in Bangladesh after July 2018. At an extraordinary general meeting of the Bangladesh Garment Manufacturers and Exporters Association held at the Radisson Hotel in capital Dhaka, apparel makers said that this was the high time to stand against Accord and Alliance as the business was on the edge of

'Whatever is needed to ensure workers’ rights will be done in accordance with the country’s law' Commerce Minister Tofail Ahmed on Saturday alleged that the global retailers of Bangladeshi garment products put new conditions once previous ones are met in the name of ensuring safety in the country’s largest export industry. “Buyers keep coming up with new demands and say ‘do these’ etc. Motive of these stuff is to create pressures on the manufacturers,” he said while addressing the inaug

The textile industry, especially the power loom segment, has hardly been comforted by a ministry clarification that only job workers or units with an annual turnover of Rs 20 lakh or more would need to register for the good and services tax (GST). Since the new indirect tax regime was rolled out on July 1, the textile sector has been demanding that the rates and rules be eased for it. In its latest notification, the textile ministry has not only eased the norms for job workers but has also warn

Apparel exports to Japan, Bangladesh's most promising export destination in Asia, dipped 3.88 percent in fiscal 2016-17, which exporters blame mainly on the terrorist attack in Gulshan last year that killed seven Japanese nationals. Exports of garment products to the far-eastern nation -- whose apparel market is worth about $40 billion a year -- raked in $744.47 million last fiscal year, according to data from the Export Promotion Bureau. “The slowdown in shipment growth to Japan is tempor

Bangladesh's exports of apparel items to the European Union remained sluggish in fiscal 2016-17 mainly due to Brexit, national elections in major European countries, depreciation of the euro against the dollar, prolonged labour unrest at home and poor port services. Exports to the EU grew only 3.49 percent year-on-year to $17.75 billion in fiscal 2016-17, while the growth was 11.66 percent in the year before, according to Bangladesh Export Promotion Bureau (EPB) data. Against this backdrop