Commerce Minister Tofail Ahmed, third from left, meets guests at Bangladesh Denim Expo at Radisson hotel in Dhaka yesterday. Photo: Star Denimco Textile, a Turkish denim maker, will open an office in Dhaka soon to sell the fabric to Bangladeshi exporters directly, as Bangladesh is a major exporter of denim products to Europe and US markets. “Everything is ready and we will open the office within one and a half months,” said Oguz Aksoy, marketing officer of Denimco. “Bangladesh is an im

It was a "memorable day" for Marks & Spencer, according to chief executive officer Marc Bolland. After a fifteen year absence, the department store group has return to Belgium with the opening of its newest store on the Guldenvlieslaan street in Brussels. The 5,000 square meter store is part of the previously presented 'Bricks & Clicks' strategy Marks & Spencer has launch to enable its successful expansion. "There is no specific reason as to why we left Belgium," explains Costas A

More than 30 per cent working capital of textile sector is stuck-up under refund regime, while several incentives announced in previous budget 2014-15, including ‘Rationalization of Refund Regime’ and ‘Complete Settlement of all Outstanding Refund Claims till 2014’ could not be implemented so far. “Pakistan textile policy for 2009-14 with outlay of Rs188 billion could be implemented only 15 per cent while textile policy 2014-19 with total outlay of Rs 64 billion was announced with a long del

Giant Group has recently introduced environmentally friendly and Water Saving Technology in its new venture, Giant Textiles Limited, to satisfy customers in a distinctly superior manner providing quality products with highest price-to-value ratio. Giant Textiles Limited (GTL), the latest and largest venture of the group, is a state-of-the-art environmentally friendly energy saving and fully vertically integrated composite Knit unit with a daily capacity of 25 tonnes of fabrics, said a stateme

The introduction of warehousing facility for cotton trade will immensely benefit the country's spinners, as it will reduce lead-time and ensure the timely sourcing of the fibre, industry people said. Under the facility, merchants from different countries will store cotton at warehouses at Chittagong port to sell to the local cotton importers and spinners. The merchants can also re-export the cotton from the port to other destinations. The system is already in use by the Chinese government,

The readymade garment export growth plunged sharply in April compared to previous three months, which the exporters said was aftershock of the political unrest. The garment exports grew 1.16% to $1.93bn in the month from one year ago while January, February and March saw growths of 7.98%, 7.22% and 8.40% respectively. According to the provisional data of Export Promotion Bureau, the overall export earnings in April also declined by 0.53% to $2.39bn. “January was the booking time, but th

In China Keqiao International Textiles, Fabrics & Accessories Exhibition 2015, the mobile exhibition of Online Textile City exhibits more than 1200 pieces of fabric samples. All the samples can be queried online by scanning the two-dimensional code. According to the relevant person in charge of Online Textile City, all the fabric samples are carefully selected from more than 120 high-quality suppliers. The samples are covering yarn, apparel fabrics, home textile products and various type

The Vietnam domestic fibre manufacturers have been facing harsh competition from imported fibre. The Ministry of Industry with the aim to rescue and encourage domestic production has plans to increase import tax on polyester staple fibre (PSF) from zero to 2 percent. The Ministry plans to raise tax on staple fibre, coded 55.01, 55.02, 55.03, 55.04, 55.06 and 55.07, which are currently enjoying a zero tax rate. According to the Ministry of Industry and Trade, Viet Nam imports around 150,00

A new official report has highlighted China's mounting economic challenges, including how to boost exports, amid the slow recovery of the global economy and some countries resorting to currency depreciation. "The world economy is growing at an anemic pace, and consumption and investment is lackluster in many economies. Global trade growth lacks momentum," the Ministry of Commerce (MOC) said in a report released on Tuesday. China's export competitiveness is facing headwinds on two fronts: h

Trade with countries along the Belt and Road, a China-proposed initiative to enhance international connections, amounted to $236 billion in the first quarter of 2015. This translates to 26 percent of China's total exports and imports during the period. In the same quarter, exports to Belt and Road nations increased 10 percent year on year to $144.5 billion, outpacing a general 4.6 percent growth in exports during the period. The volume accounted for 28 percent of China's total exports,