In just the first half of this year, textile exports to markets joining the Trans-Pacific Partnership (TPP) accounted for 70 per cent of the total export value and will grow substantially once the agreement is signed. Issues surrounding rules of origin, however, are a major concern as 60 to 90 per cent of materials for textiles made in Vietnam are imported from countries that are not members of the TPP. Origin pressure According to the Vietnam Textile and Apparel Association (Vitas), a

Asserting that the domestic textile industry is facing recession for the last 15 months, Southern India Mills' Association (SIMA) has appealed to the Centre to take immediate steps to create a level-playing field for the sector. "In the absence of a level-playing field due to higher rates of duties for Indian textile products in various major international markets, higher raw material cost, high cost of funding and high transaction cost, the industry is not in a position to achieve its potent

The Trading Corporation of Pakistan (TCP) would suffer huge losses on the disposal of 95,700 bales of cotton procured last year on the directives of the Economic Coordination Committee (ECC) of the Cabinet, official sources said on Saturday. The TCP, which is holding around 88,600 bales, had already disposed around 6,800 bales on inviting bids through tender on July 15, 2015 and were opened in Islamabad on July 29. The bid opening witnessed a sole offer from Tata group at Rs4,800-4,900 per

Researchers from China are collaborating with a crop eco-physiologist with the Texas A&M AgriLife Research and Extension Center in Uvalde toward the goal of improving cotton production in south central Texas, AgrilLife said in a press statement. “We are working together to gain a better understanding of the water-soil-plant dynamics of cotton production in this region,” said Dr. Xuejun Dong, the Texas A&M AgriLife Research scientist working with three Chinese researchers visiting the ce

The Cotton Corporation of India (CCI) which procured 8.6 million bales (1 bale = 170 kgs) of cotton since October 2014, has started offloading the stock in both domestic and international markets through daily and weekly tenders. CCI has sold nearly half of the cotton stock it procured in the crop year 2014-15 under the minimum support price (MSP) operation. In a rare move, CCI also entered the Bangladesh market after negotiating terms directly with them. It has so far exported between 80,000

Government last week announced several austerity measures meant to resuscitate the economy which include new levies and taxes on imported groceries, fertilizer and a ban on the importation of second-hand clothes. Following Government's directive to ban all second-hand clothes on the local market, Zimbabwe Clothing and textile manufacturers are eying 100 percent capacity utilization by 2020. Speaking on the sidelines of a tour of the company by the Office of the President and Cabinet, Zimbabwe

The European Union and Vietnam reached a free trade agreement on Tuesday, the EU’s second in Southeast Asia, paving the way for deep cuts in tariffs on almost all goods between their markets. The agreement in principle may take several years to be implemented. A legal text should be completed later this year, after which it must be ratified by the 28 EU member states and the European Parliament. Free trade with the EU would be a boon for Vietnam, a fast-growing, export-led economy set to

All GSP eligible merchandise including textiles will benefit from the US government's announcement of extending the benefit under the Generalized System of Preferences (GSP) to developing countries. In a notice issued on 28 July, the US Customs and Border Protection (CBP) said that it will “again accept claims for GSP duty-free treatment for merchandise entered, or withdrawn from warehouse, for consumption and that CBP will process refunds on duties paid, without interest, on GSP-eligible mer

The glut in the global cotton stocks is expected to continue in 2015-16, says the International Cotton Advisory Committee (ICAC). In 2014-15, world ending stocks are estimated to have risen by 9 per cent to 22 million tonne, reflecting a stock-to-use ratio of 90 per cent, the ICAC said in a press release. From 2010-11 to the end of 2014-15, the world has accumulated 13.4 million tonnes of stock due to production exceeding consumption. In 2015-16, stocks are projected to decrease 5 per cent to

In China, manufacturing wages adjusted for productivity have almost tripled over the last decade, to an estimated $12.47 an hour last year from $4.35 an hour in 2004. China’s surging labor and energy costs are weakening its competitiveness in manufacturing, according to the Boston Consulting Group. Boston Consulting has estimated that for every $1 required to manufacture in the United States, it costs 96 cents to manufacture in China. Yarn production costs in China are now 30 percent higher t