A 274 million USD textile project run by a Taiwanese company got an investment certificate from southern Binh Duong province authorities on June 29. Polytex Far Eastern Co. Ltd, a member of Taiwan’s Far Eastern Group, will spend 274 million USD on phase one of the project, which will cover 99 hectares at the Bau Bang industrial and urban park. The factory will have an annual capacity of 21,600 tonnes of polyester fibre, 21,600 tonnes of polyester drawn textured yarn, 127 million square metre

American trade negotiators demanding Vietnam, a major garments exporter to reduce its reliance on textiles made in China, which isn’t part of the trade pact, to get preferential market access to the U.S. The Senate is expected to pass on Wednesday legislation to expand President Barack Obama’s trade-negotiating powers after a bruising battle that has put pressure on proponents to show that the 12-nation Trans-Pacific Partnership will create jobs in the U.S. The U.S., aiming to bolster America

The cotton industry has welcomed the allocation of nearly Australian $620 million in the New South Wales Budget for infrastructure that would help secure the water supply of rural towns in the state, Cotton Australia said on its website. Cotton Australia General Manager, Michael Murray, said the allocation of $53 million to fix the water supply for Broken Hill was particularly appreciated. “For many years the lack of a permanent water solution for Broken Hill has heavily impacted cotton gr

According to the Development and Reform Commission of Xinjiang Production and Construction Corps, the State Development and Reform Commission will give greater support to the Corps' project of constructing high-quality cotton growing base by allocating CNY 200 million from the central investment budget in 2015, which is up 1/3 from last year and equals to the total in 2012 and in 2014. The investment will be mainly used for industrialization of improved cotton seed, cultivation of high-yield cot

China will step up support for the textile industry in its troubled far western region of Xinjiang even as the government moved to shore up stability in an area where unemployment is seen as fuelling unrest, the official Xinhua news agency said. Hundreds have died in violence in Xinjiang, home to China's Muslim Uighur minority, in the past few years. The government blames the unrest on Islamist militants and separatists who want to establish an independent state called East Turkestan. Expe

Bangladesh's garment exports to American market will not be affected by the proposed Trans-Pacific Partnership, a mega trade deal involving the US and 11 other Pacific Rim nations including Vietnam, its main competitor in apparel trade, an economist said. The reason being the country is performing well now even after paying a higher duty than Vietnam to the American market, said Ahsan H Mansur, executive director of Policy Research Institute, a private think tank. At present, Bangladesh pa

The Chinese economy is healthy and has great potential for further development, a leading German economist has said. In the macroeconomic sense, the Chinese economy is still extremely healthy if one looks at the growth rate, inflation and balance payments, said Carsten Herrmann-Pillath, research professor of Economics Evolutionary sciences at Witten/Herdecke University in Germany, in a recent interview with Xinhua. He explained that the Chinese central bank has a lot of freedom to support

Egyptian cotton lauded for its soft texture and durability has been used to produce some of the world’s premium linen and clothing for over two centuries is presently facing a serious decline in its cotton production due to the ongoing political turmoil in Egypt. This rare type of cotton is essential to everyone but its producers, the Egyptian farmers are said to be placing less emphasis on a plant that is as important to the nation as tourist trips to the pyramids. The Egyptian farmers are c

The government is likely to reduce tax at source on export of all products by 0.20 percentage points to 0.80 per cent in the budget for the next fiscal year from the proposed 1 per cent, officials of the finance ministry said. Bowing down to pressure from the exporters, particularly from the readymade garment sector, the government has decided to reduce the export tax, they said. In the budget proposal before the parliament on June 4, finance minister AMA Muhith proposed an increase of e

Vietnam is now the fourth largest textile exporter in the world with 12.18 billion USD earned from these products in the first six months of this year, according to the Vietnam National Textile and Garment Group (Vinatex). The figure represented a 10.26 percent increase from the same period last year. The US, the Republic of Korea (RoK) and the European Union were the biggest importers of Vietnamese products, posting growth rates of 11.01 percent, 8.33 percent, and 8.2 percent, respective