United States has a high demand of textile products and the markets also demand high quality products. Zimbabwe can export its textile products if their products meet the United States’ standards. Zimbabwean textile industry needs to explore the prolific United States market as it bids to recover its former lustre, according to a US trade specialist. Trade between Zimbabwe and the US has declined in recent years, with local exports to America totalling $34 million in 2013 compared to $91 mill

The country's RMG manufacturers and exporters will observe a day-long token hunger strike on Saturday, demanding immediate end of the ongoing political unrest that already took heavy toll on the sector. It will be held from 11 am to evening in front of the BGMEA Bhaban at Karwan Bazaar in the capital. Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Atiqul Islam made the announcement at a views exchange meeting held at its headquarters yesterday. The trade bo

A subdued business was seen on the cotton market on Friday as some leading mills and spinners kept on the sidelines due to little buying interest, dealers said. The official spot rate was unchanged at Rs 4,950, dealers said. In the ready session, over 7,000 bales of cotton changed hands between Rs 4200 and Rs 5200, they said. The seed cotton rates recovered Rs 200 in Sindh were to Rs 2000 and Rs 2350, in the Punjab prices were at Rs 2200 and Rs 2650, they said. According to the market source

Influenced with the recent international trend, the rates of cotton maintained upward journey on the local market on Wednesday, dealers said. The official spot rate extended overnight gains picking up Rs 50 to Rs 4,950, dealers said. In the ready session, over 20,000 bales of cotton changed hands between Rs 4650 and Rs 5275, they said. The seed cotton rate in Sindh at Rs 1800 and Rs 2350, in the Punjab prices were higher by Rs 200 to Rs 2200 and Rs 2600, they said. Some leading exporters and

The proposed signing of the EU-India free trade agreement and Vietnam's joining the Trans Pacific Partnership are unlikely to have any negative impact on Bangladesh's garment exports, trade analysts said yesterday. At present, India and Vietnam are no challengers to Bangladesh in garment trade, Zillul Hye Razi, trade adviser of the European Union, said. The two countries operate close to the high-end segment of the market, while Bangladesh mostly occupies the low end of the spectrum. Besid

Pakistan’s ministry of textile industry has announced the long-awaited Textile Policy 2014-19, which sets annual exports target of US$ 26 billion by 2019. “The annual exports target of $26 billion by 2019 is ambitious but not beyond our potential,” minister for textile industry Abbas Khan Afridi said while addressing a press conference. Budgetary support, drawback of local taxes and levies, easy finance, sales tax regime, duty free import of machinery, policy interventions, tariff rational

Egyptian cotton, the so-called “white gold” a byword for luxury that is prominent the world over and also the former core of Egypt’s economy and the source of many a trader’s fortune has been declining for years due to changing government policy, a shrinking domestic market and the vagaries of international cotton prices. The Egyptian government has taken decision to end a subsidy to cotton growers introduced only last year. The subsidy worth about $200 per feddan, an area slightly above an

Permira Holdings Ltd. has cut its stake in Hugo Boss AG below 14 percent, boosting the clothier’s free float in a move that may make it more attractive to institutional investors, reports Bloomberg. Still the largest stakeholder at the German upscale fashion brand, Permira, said on Monday it would sell at least 7.35 million shares. This is the fifth time the private equity group has reduced its stake in the past two years. Previous time Permira sold some stock from Hugo Boss was in Decem

Cambodia’s garment exports rose some 4 percent year-on-year in 2014 to $5.75 billion, far less than the 20 percent jump in garment exports the previous year, but defying the most pessimistic predictions that exports might actually shrink. The slowdown in one of the country’s main economic drivers may have a significant impact on overall growth. The industry employs some 600,000 workers, accounts for 80 percent of Cambodia’s total exports and contributes a third of gross domestic product.

A Bangladesh Cotton Association web site photo shows farmers plucking cotton at a field. About 80,000 cotton growers in the country are set to incur losses by selling their produce at lower prices during the current season, said agriculture ministry officials. About 80,000 cotton growers in the country are set to incur losses by selling their produce at lower prices during the current season, said agriculture ministry officials. Cotton growers said that they had counted huge losses due to