European Union (EU) exports of textile products to Russia have stabilised, despite a sharp fall between 2014 and 2015, as diplomatic relations between Brussels and Moscow worsened amid financial sanctions imposed on Russian companies and banks over the Ukraine crisis. New figures passed to WTiN by EU statistical agency Eurostat show that EU exports of yarn, fabrics and other textile made-up articles (not including apparel) generated income of €759bn in 2016, up slightly from €758bn in 2015, a

The Ministry of Industry and Trade held a seminar in HCM City on April 7 to collect comments from experts and enterprises in the industry on the revised plan. According to the revised plan’s overall objectives, the leather and footwear industry will develop at a high speed to maintain its position as one of the country’s key export industries and create more jobs with improved incomes for workers. Implementing better corporate social responsibility and raising the number of trained laboure

Cotton spinners in India are considering production cuts during the current financial year to sustain profit margins, which were under pressure due to a sharp increase in the price of cotton over the last few months. Experts estimate an average production cut of 15 per cent for financial year 2017-18, if the current scenario continues. A recent study by rating agency Care estimates India's cotton yarn production at 3,936 million kg for financial year 2016-17, nearly five per cent lower than 4

Key advances in the last five years have led to early commercial products, with the e-textiles market having grown at double digit rate to reach around US$ 100 million in annual wholesale revenue today. With global giants from both apparel and electronics assessing the sector and building their strategies, analysts predict further growth over the coming decade. According to thereport, published by Research and Markets, the significant investments currently being made will eventually enable ma

IFC, part of the World Bank Group, has signed a €15.5 million investment deal with Standard Chartered Bank Cameroon. The investment is part of a €31 million one-year pre-export facility being set up by the Standard Chartered Bank for Société de Développement du Coton (Sodecoton), a state-owned enterprise, which purchases 100 per cent of the country's cotton. The facility will be used to finance the cotton campaign, mainly for the purchase of seed cotton from smallholder farmers, the ginning o

The Department of Trade and Industry (DTI) of South Africa, to help boost the clothing and textile sector through the Production Incentives Programme (PIP) within the Clothing and Textiles Competitiveness Programme (CTCP), has approved R4.9 billion in incentives, with more thanR3.1 billion disbursed in the last financial year to create and save jobs in the sector, said Trade and Industry Minister Rob Davies. Throughout the sector, a number of companies that qualified and drew from both progra

China's economy is likely to remain solid in the first quarter of this year, growing 6.8 percent from a year earlier, Goldman Sachs forecast. The bank said in a research report that purchasing managers' index (PMI) readings from both official and private surveys have implied firm activity growth overall. It expected China's GDP growth to reach 6.6 percent for 2017. Goldman Sachs expected China's industrial production to rise 6.4 percent in March, slightly higher than the 6.3 percent growth

A file photo shows workers busy at a readymade garment factory in Dhaka. RMG export to China witnessed more than 27 per cent increase while that to India suffered nearly 8 per cent decrease in the July-March period of the current financial year 2016-17. — New Age photo Readymade garment export to China witnessed more than 27 per cent increase while that to India suffered nearly 8 per cent decrease in the July-March period of the current financial year 2016-17. Exporters and experts said in

The government has been urged to formulate a new cotton policy to avoid losses suffered due to crop failure over the last two consecutive years. Analysts say the key crop failure should be taken seriously also because it did not occur in any of the cotton-growing countries except Pakistan. The cotton crop failure has far-reaching impact in the country where 60 per cent population lives in rural areas. A short crop resulted in job losses to rural workforce, particularly women cotton pic

Exports of jute goods to India have been affected after New Delhi imposed antidumping duties on the natural fibre-based products from Bangladesh, industry operators said yesterday. India slapped the antidumping duty – ranging between $19 and $352 a tonne -- on January 5, following which, shipments from Benapole land port, which handles over 90 percent of Bangladesh's jute exports to India, fell in both January and February this year. Year on year, jute goods exports slumped 52 percent to 6