Vietnam currently ranks sixth among the biggest garment exporters to the EU, trailed by China, Bangladesh, Turkey, India and Cambodia, according to the Vietnam Textile and Apparel Association (Vitas). Last year, the EU imported US$3.11 billion of apparel products from Vietnam, up 5.01% in value and 3.21% in volume, and accounting for 3.45% of the EU market share. Despite a price reduction of 2.31% from a year earlier and lower price levels than Vietnam, Cambodia’s EU market shares were hig

ADIDAS aims to add 3,000 stores in China in the next five years to the current 9,000 nationwide as the German sportswear and apparel group expects emerging cities to contribute to over 60 percent of sales. “More than 60 percent of our sales increase will be coming from emerging cities in the next five years thanks to an increase in consumer purchases,” Colin Currie, managing director of Adidas Group China, said yesterday. The company’s sales in China rose 16 percent on a currency-neutral b

Diversification of jute products could help Bangladesh grab the foreign market and enter the new era of the country’s golden fibre, said trade analysts. “To revive the country’s jute sector, products need to be diversified with innovation taking market demand into consideration,” said Khondaker Golam Moazzem, additional research director at the local think thank Centre for Policy Dialogue. He stressed the need to participation of manufacturers in the expositions and to conduct research for

Prime Minister Sheikh Hasina yesterday declared that jute and jute goods will now be considered as agro-based products so that this foreign exchange-earning sector could get all the benefits country's other agro-based items get. "Jute is an agro-based product, but other products which have little relations with agriculture are getting special benefits as the agro-based products. But jute is not getting those benefits. This is unfortunate. Let me declare one thing, we'll consider jute as an ag

In a huge relief to Pakistani textile mills in the Punjab province which had been reeling under an energy crisis, Sui Northern Gas Pipeline Limited (SNGPL) has started supplying gas to the mills round-the-clock after almost six years. The announcement follows the arrival of the first liquefied natural gas (LNG) shipment from Qatar. Punjab textile mills, which were presently receiving gas just for four-six hours a day, started getting re-gasified liquid natural gas from Wednesday night at a co

International Affairs Adviser to Prime Minister Gowher Rizvi was addressing as the chief guest at the inauguration of a two-day Denim and Jeans.com Bangladesh show that displayed jeans and denim products along with fabrics to local and foreign jeans manufacturers in Dhaka yesterday urged foreign denim manufacturers to invest in Bangladesh’s denim sector as huge potential lied with the demand rising. Gowher said that Bangladesh has become a global player in manufacturing RMG products and there

The Chinese currency, the yuan, remained basically stable against a basket of other currencies in February though it fluctuated slightly, according to analysis by financial services provider China Foreign Exchange Trade System (CFETS). The yuan exchange rate composite index, which measures the yuan's strength relative to a basket of 13 currencies including the U.S. dollar, euro and Japanese yen, came in at 99.63 at the end of February. That marked a 0.52-percent depreciation from the level

Vietnam looks set to become the biggest beneficiary of the US-led Trans-Pacific Partnership trade deal out of the four Southeast Asian participants, the other three being Brunei, Malaysia and Singapore. This according to an article written by David Robinson recently published in the UK Financial Times. The 12-country pact — covering about 40% of the world’s economy — will grant Vietnamese manufacturers tariff-free access to several large markets. It should also force Vietnam’s communist go

As Chinese spend on high fashion worldwide, local firms go shopping for brands to expand Retailers and investors say China's luxury goods industry still has a bright future despite a second consecutive year of losses in 2015, according to consulting firm Bain & Co. Research by the Fortune Character Institute appears to confirm this optimistic outlook, too. Last year, the Chinese bought 46 percent of the luxury goods sold worldwide - but 78 percent of that was purchased o

The country has so far produced 9.727 million bales this season, a decline of 34 per cent compared to 14.705m bales a year ago. The cotton crop failure is not only crippling growers financially, it has also hurt country’s entire economy and resulted in billions of dollars loss which is going to negatively reflect in the lower GDP growth for this fiscal year. Exporters cite poor and uncertified seed, fertiliser and pesticide as major causes for crop failure. Besides, heavy rains and floods