The economy will be in big trouble if the textile sector falls into any crisis for the wrong decision of the government, industry leaders said yesterday. The sector's contribution to knitwear exports is about 85 percent and to woven about 35-40 percent, said Tapan Chowdhury, president of Bangladesh Textile Mills Association. And together with the garment factories, the 1,400 textile mills contribute 13 percent to the gross domestic product. “As a backward linkage industry for readymade

India's Cotton production is estimated to fall 11 per cent to 335 lakh bales in the current year due to lower acreage and drastically lower yields, according to a report by Edelweiss Agri Research. Acreage under cotton is down by 7.5 per cent as fall is witnessed across the states due to poor return during the previous season. According to the report, overall yields are expected to come down by 3.8 per cent, largely because of a 35 per cent reduction in yields in North Indian states year o

Turkish textile producers who have been designing their collection for Russian consumers who have been loyal consumers to Turkey for years are likely to diversify their export partners, as Moscow has been prompted to introduce a number of economic sanctions against Turkey in retaliation following the jet crisis. With Turkey's textile manufacturers being forced out of Russia, they are trying to find new buyers which is good news for Lithuanian clothing producers. The Turks, who until rece

Pakistan cotton market failed to attract buying from spinners on Saturday due to sharp fall in cotton crop production leaving the market with slow trading activity. The slow activity kept prices steady at overnight level and sluggish demand from spinners is expected to continue even for the rest of the season, according to floor broker. The Karachi Cotton Association (KCA) spot rates also remained steady at overnight level. A major factor affecting trading activity is the financial crisis

For the 2015/2016 season, shorn wool production estimates have been revised to 322 million kgs greasy, down 7.0 per cent from the final estimate of 346 million kgs for the 2014/15 season. According to the Australian Wool Production Forecasting Committee (AWPFC), this reflects a combination of a 4.8 per cent fall in shorn sheep numbers and a 2.3 per cent drop in average fleece weights.“This decline is from the Committee's final estimate of shorn wool production for 2014/15 at 346 million kgs,

Vietnam's local garment industry that depends on imported material from abroad, especially from China which accounts for 50 percent of the material for the industry’s production. Also most of the machines, chemicals and textile dyes that Vietnam's garment industry uses need to be imported. That means the supply chain remains the weak point in Vietnam's garment sector for which it has taken a small step to join the processing stages of cutting and sewing in the global supply chain, said Vu Duc Gi

The landmark free trade agreement between China and Australia came into effect officially on Sunday (December 20), giving competitive advantages for exporters and investors from both countries into each other's market. The China-Australia Free Trade Agreement (ChAFTA) enables more than 86 per cent of Australia's goods exports to China duty free, worth more than $65 billion. Once the agreement is fully implemented in four years, 96 per cent of Australian goods will enter China duty free, wh

Sri Lankan apparel sector expects the return of European Union's trade concession GSP Plus which is likely to balance out potential effects from the TPP agreement, the biggest global trade agreement in two decades. Sri Lanka's Industry and Commerce Minister Rishad Bathiudeen speaking at his Ministry's annual Ransalu textile expo inauguration event on 18 December at BMICH in Colombo stressed that the Trans Pacific Partnership (TPP) agreement signed in early October needs to be studied further

China and South Korea will cut tariffs on certain traded goods as the free trade agreement (FTA) between the two countries came into force on Sunday (December 20). The FTA aims to eliminate all tariffs eventually with gradual removal of barriers through the years. The two countries concluded talks on the FTA in November 2014. Seoul believes the FTA will enable South Korean companies to expand substantially in the world's largest consumer market and boost bilateral relations in trade and ec

A press conference was held by Hikmet Eraslan, CEO of Dosso Dossi Holding to kick off the biannual Dosso Dossi Fashion Show in the resort city of Antalya. Speaking at the press conference, Erasland said that textile firms from China, India, Italy and others to boost its presence in the Russian marketing have starting meeting business delegations in Russia in a bid to utilize the absence of Turks in the market, following the jet crisis, wherein Turkey shot down a Russian fighter jet over an airsp