The China-proposed Belt and Road initiative and regional economic development, Xinjiang, which borders eight countries and boasts 29 national ports, has grown into a trading hub for garments. According to the latest statistics released by Urumqi Customs, China has exported 16.57 billion yuan (about 2.5 billion U.S. dollars) worth of textiles and garments through ports in Xinjiang, Textile and garment exports to Central Asia and Russia via ports in Xinjiang Uygur Autonomous Region have incr

Prices failed to maintain rising trend on the local cotton market on Saturday due to falling interest among buyers, according to dealers. According to some brokers, trade activity came down ahead of Eid-ul-Fitr holiday. The official spot rate shed Rs 50 to Rs 5,900, dealers said. In Sindh seed cotton prices were at Rs 2900-3200 while in Punjab phutti prices were at Rs 3000 and Rs 3200, per 40 kg, respectively, dealers said. In ready business, around 400 bales of cotton changed hands at

China sold 21,700 tonnes of cotton at an auction of state reserves on Tuesday, pushing its latest sales past 1 million tonnes in a sign of a tight Chinese textile market. The state reserve cotton was sold at an average price of 12,868 yuan ($1,937.54) per tonne, up from a price of 12,230 yuan at an auction last week, according to information published late on Tuesday on the China cotton industry website cncotton.com.In an indicator of strong demand for the material, all the cotton that was made

American Printhouse, a wholesale screen printing and garment manufacturing company has announced a partnership with Thread, a company that specialises in creating eco-friendly fabric from recycled plastics. “This is a game changer for those seeking environmentally and socially responsible alternative fabrics,” said Sam Akkad, founder of American Printhouse. Thread's manufacturing process is closely monitored from the moment they pick up a plastic bottle to when the 'Ground to Good' fabric

Vietnam’s garment exports to the EU account for approximately 20 percent of the total volume with the UK contributing around 4 percent. Vu Duc Giang, Chairman of the Vietnam Textile and Apparel Association (Vinatas), said Brexit will definitely have impacts on garment and textile exporters due to the devaluation of the pound and the euro, which influence prices. The purchase power of British and European consumers will change as well, said Giang. According to Giang, material prices w

The government has decided to reduce the rate of tax at source for the readymade garment exporters to 0.80% from the proposed 1.50% for next fiscal year 2016-17 in the wake of hectic lobbying from different stakeholders. The tax rate for jute product exporters may also be set at 0.60% considering the prospect of the industry, said the finance ministry officials. Earlier on June 2, Finance Minister AMA Muhith had proposed to set the tax at source on export to 1.50% from existing 0.60% for a

Contrary to fears of stakeholders, the government is hopeful that overall Britain’s decision of leaving the EU will have zero or nominal impact on Pakistan’s textile exports. Ministry of Textile officials believe that although Britain has announced exit from the EU, but the actual process will be long. British Prime Minister will step down in October, and from October it will take another two years to complete the process, said a high official. He was hopeful that in around two and half years

India’s apparel exports are likely to rise about 20 per cent this financial year, following a number of measures taken by the government to encourage investment and raise foreign shipments. According to trade sources, the ministry of textiles has set a target of $20 billion (Rs 1.35 lakh crore) for the current financial year as against exports of $17 billion (Rs 1.14 lakh crore) in financial year 2015-16 (FY16). Given the sentiments in foreign markets, the target looked ambitious as major imp

Textile machinery manufacturers' body, India International Textile Machinery Exhibitions (ITME) Society, does not see any immediate threat from Brexit, its Chairman Sanjiv Lathia has said. "England is not a big buyer of textile machinery. Textile manufacturing moved away from England long ago to China. So we don't see much impact on Indian textile machinery manufacturing," Lathia said here.