China, the world's top cotton consumer, will produce 5.6 million tonnes of the fibre in 2015, down 9.3 percent from the previous year, said the National Bureau of Statistics on Friday, blaming the decline on a drop in planted acreage for this year's crop. The figure is higher than recent trade estimates, many of which put this year's cotton output at less than 5 million tonnes after poor summer weather pulled down yields. "Considering the inventory and poor domestic consumption, (the output

THE yuan yesterday weakened for the 10th day against the US dollar as China’s central bank set the official reference rate at the lowest since 2011 following the US interest rate hike. The yuan fell 0.16 percent to close at 6.4837 against the US dollar in Shanghai. It is the second time since November that the yuan has been weakening for 10 straight days. The People’s Bank of China yesterday set its official central parity rate at 6.4757 per dollar prior to the market open, its weakest sin

South Africa's Department of Trade and Industry (DTI) has welcomed Chinese company Yi Li Da Sa R150 million ($10 million) blanket factory which is expected to create 1000 direct jobs in Boksburg, Gauteng, the state-run South Africa news agency has reported. The Chinese company last week opened the eco-friendly factory that will produce textile products using recycled polyester products such as plastic mineral water bottles. Acting Head of Investment Promotion and Interdepartmental Clearing

After a Russian jet was shot down along the Syrian border on November 24 2015, Russia has imposed economic sanctions on Turkey. Moscow has banned the import of some Turkish goods, imposed restrictions on travel, and plans to stop some Turkish companies doing business in Russia. Turkey's ready-to-wear exporters, who have been affected by the Moscow sanctions, eye new markets in Africa to compensate the Russian losses in textile. Hikmet Tanriverdi, head of the Istanbul Ready-Made Garment

All Pakistan Textile Mills Association (Aptma) to call a conference of stakeholders of the entire textile chain, including value-added sector, this month to evolve a joint protest strategy after having received in writing from hundred textile mills of Punjab to close their units if the federal government fails to address non-viability of the industry and restore its competitiveness. About 70 textile mills have already closed down in Punjab due to commercial non-viability and complete gas sus

Vietnam's fast-growing market has attracted a large number of Taiwanese companies with investment plans. In fact Taiwanese companies are among the first foreign investors in Vietnam with plan to invest in a textile production chain to benefit from the upcoming, Trans Pacific Partnership (TPP) said John Tang, director of the Taiwan Trade Centre (TAITRA) office in HCM City at a recent press conference. Taiwanese businesses have pumped US$1.11 billion into 154 projects in Vietnam over past 11 m

Pakistan Tehreek-i-Insaf Punjab organiser Chaudhary Sarwar says the rulers are responsible for the closure of textile mills due to a gas supply cut and costly electricity. He told reporters at a ceremony on Tuesday, 70 textile mills had already been closed in Punjab and now 100 more faced closure. This, he said, would open floodgates of unemployment. He said the ministers were making tall claims about strengthening the economy but some 110 million people were still living without two meals

Vietnam garment industry despite being expected to benefit the most from the TPP, few of the 2,000 garment firms across the country have shown interest in it. Only large companies seem to have the capability to study and make preparations for the TPP as it is expected to bring more export opportunities, especially in the big markets of the US, Japan and Australia. According to the Ho Chi Minh City Association of Enterprises, only half of 200,000 small and medium-sized enterprises (SMEs) in th

The world economy has fallen below forecasts of even six months ago and will grow only modestly over the next two years due to “cyclical and structural headwinds,” including low commodity prices and stagnant investment, the United Nations has reported. It has urged steps to ensure stronger growth. “Stronger and more coordinated policy efforts are needed to ensure robust, inclusive and sustainable economic growth, which will be a key determinant for achieving the 2030 Sustainable Development G

Foreign Direct Investment (FDI) in the country’s ready made garment and textile sector have seen over 7% decline last year due to slow export growth in the apparel sector. RMG manufacturers and trade analysts attributed the reason to political unrest for the downswing of the FDI. According to the Board of Investment (BoI) data, in 2014, Bangladesh’s textile and RMG sector witnessed $391 million foreign investment, which was 7.34% less compared to $422 million in 2013. Bangladesh’s gro