Myanmar is to expand its textile and garment industry under the country’s new national export strategy as a means to boost economic growth, with the sector’s export earning targeted at $2 billion for the 2015-16 fiscal year, official media reported Tuesday. With foreign investment accounting for 90 per cent, the sector created 1,00,000 job opportunities in 2014-15, according to the Myanmar Garment Manufacturers Association. The five-year national export strategy, which also covers six ot

China has reduced the target price its cotton subsidy scheme is based on in the major growing region of Xinjiang by 3.5 percent, with analysts saying the step would have little impact on output in one of the world's top growers. The 2015 target price for cotton in Xinjiang was set at 19,100 yuan ($3,080) per tonne, down from 19,800 yuan last year, the National Development and Reform Commission (NDRC) said late on Tuesday. Under a new subsidy system introduced in Xinjiang last year, China pay

Square Textiles, a concern of Square Group, plans to increase its yarn production capacity with an estimated investment of Tk 113.87 crore. The export-oriented company now produces 21,600 tonnes of yarn a year at its three units. After the completion of the new project next year, another 4,235 tonnes will be produced. Square Textiles is expecting Tk 119 crore in turnover from the additional capacity, according to a posting on the Dhaka Stock Exchange website yesterday. The company also

In 2014, textile enterprises above designated size in Hubei Province realized industrial value added of CNY 88.89 billion, according to the textile division of Hubei Economy and Information Technology Commission. The scale of the industrial value added is 2.34 times that at the end of the 11th Five-year Plan period (2006-2010), rising at an annual average of 23.7%, surpassing the targets of CNY 87 billion of industrial value added and 18-percent annual growth rate set in the 12th Five-year P

Exports to China has sprung back to over 50 million kg in February 2015 after hovering around 30-40 million from April to October and in January. In February, export of spun yarn to China jumped 19 per cent year on year in terms of value and 38 per cent in volumes. It imported 53.3 million kg of yarns worth US$140 million. In February 2015, China imported textiles worth US$186 million, including fibres, filaments and spun yarns. Among these, the largest consignment was of cotton yarn followed

Uzbekistan is the sixth-largest producer and third-largest exporter of cotton fiber in the world, with a production of 1.2 million metric tons of cotton fiber per year to get a large textile factory in the Karshi district of Kashkadarya province in Uzbekistan. As a Dutch company, LT Textile Cooperatief UA is organizing textile production and equip it with the latest technology and energy saving equipment. The textile company has started the construction of the new textile factory which is exp

Myanmar is to expand its textile and garment industry under the country's new national export strategy as a means to boost economic growth, with the sector's export earning targeted at 2 billion U.S. dollars for the 2015-16 fiscal year, official media reported on Tuesday. With foreign investment accounting for 90 percent, the sector created 100,000 job opportunities in 2014-15, according to the Myanmar Garment Manufacturers Association. The five-year national export strategy, which also co

Chairman APTMA S M Tanveer has said the textile industry of Pakistan has lost its viability against the regional competitors and it is no more competitive in the international market place. He said a latest study by the GHERZI/IBA has revealed that the manufacturing of 20s and 30s single cotton yarn is around 15% cheaper in India due to various factors availability of raw material of better quality and yield. The production efficiencies are higher due to the latest machinery replacement under

Pakistan is expected to not only get a major breakthrough in textile exports to China, but also opening of first Pakistani bank’s branch is also on the cards. A Pakistani delegation consisting of Secretary Ministry of Textiles Amir Khan Marwat and Director Kanwar Usman is on visit to China, and theses breakthroughs have been signaled by the Pakistani delegation. The agenda of Pakistani delegation is to hold meetings with the Chinese government on free trade agreement between the two countr

The Surat-based textile industry is witnessing an aggravated over supply situation with demand for textile products has been more or less stagnant since last six months. Inventories at textile units have risen by 20-30 per cent, say players. According to industry sources, economic slowdown coupled with liquidity crisis in the market has led to subdued demand for textile products from the city. Moreover, reduced demand has resulted in buyers keeping less stock with themselves leading to higher