Vietnam is likely to overtake Bangladesh in the global apparel export market share in next 10 years once the Trans Pacific Partnership (TPP) takes shape, according to a new study. The TPP is a proposed freed trade agreement, US-led trade pact involving 12 countries – Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US and Vietnam that collectively account for 40% of the world GDP. It is currently under negotiation and is likely to take effect in 201

Textile industry stakeholders are not optimistic about the textile policy (2014-19) export target of $26 billion. Talking to Business Recorder, the private sector stakeholders said the government has failed to ensure uninterrupted supply of utilities including power and gas under the new policy. The industry is currently operating at 60 percent capacity. Stakeholders urged the authorities to review the policy and prioritise the export sector with respect to the provision of utilities as well a

Fisher Textiles has launched a new range of fabrics for yoga pants, ET 3000 Yoga, made with Repreve recycled yarns, which are produced from recycled plastic bottles. “With a soft hand and adequate stretch, it makes an excellent material for customised yoga pants,” Fisher Textiles said. Compatible with dye sublimation printing, this fabric is inherently treated with Sorbtek, Unifi's moisture management system which allows perspiration to move away from the body and dries quickly.According t

Vietnam apparel industry to benefit from Trans Pacific Partership agreement (TPP) according to a research report by Standard Chartered Bank. A wave of foreign investment in Vietnam’s textile industry has already begun, ahead of a potential TPP deal. On this basis, Vietnam likely to overtake Bangladesh in the global apparel export market share to become the second-biggest EM apparel supplier after China when its apparel exports swells to US$115 billion. Based on StanChart’s forecast, Vietnam’s

India’s cotton cultivation is estimated to drop by 20 percent in 2015-16 if low price and lower demand continue to remain will discourage farmers to reduce cotton cultivation, after having witnessed a year of record production. In 2014-15, cotton area under cultivation was around 13 mn hectares about 1.5 mn hectares higher than the previous year. While global demand for cotton and cotton yarn dropped in recent months, cotton prices also dipped owing to lack of good quality cotton in the marke

The Garment Manufacturers Association in Cambodia (GMAC) has called on all trade unionists to respect the law and halt violence if they want stability in Cambodia's garment sector. The appeal was made after one of the union leader led strike outside Apsara Garment Co., Ltd, prompting the factory to halt its process.Seang Rithy, President of Cambodia Labour Solidarity Union Federation, was arrested Wednesday and sent to a police station after he led protests for four days from 30-31 Jan. and fro

Centre has released Rs 28 crore for a textile mega-cluster in Mysuru. The cluster for textiles, mooted to be set up in Mysuru, was approved in the 2014-15 Union Budget. Land has been identified for the proposed cluster at Srirampura, on the outskirts of the city, according to the Mysuru-Kodagu MP Pratap Simha.In this connection, Union Textiles Minister Santosh Kumar Gangwar is expected to visit Mysuru on February 8.During his visit, he will inspect the land and hold discussions with the officia

Several Vietnamese companies have received full orders for textile products by the end of the first quarter of this year, according to the Ministry of Industry and Trade. The ministry said that some large firms have also received orders for delivery by the end of the second quarter. In January, the textile and apparel export turnover was expected to be US$1.9 billion, a 1.2 per cent increase year-over-year. The output of textile products has increased, compared with January 2014. The pr

The minister for agriculture, Matia Chowdhury on Sunday said that the country will start farming Bt cotton (genetically modified variety of cotton) from next year. ‘The government will continue its efforts to continue cultivating other genetically modified crops in the country,’ she told a seminar on ‘Bio-technology’ held at Bangladesh Agricultural Research Council at Farm-gate in the city this morning. She said there is no alternative to start producing GM crops for making the country self-

The country’s apparel export to the United States fell by 2.29 per cent to $4.83 billion in 2014 from $4.94 billion in 2013 amid increase in competitive edge of Vietnam, India and Sri Lanka. Experts and exporters said the US buyers shifted orders from Bangladeshi factories that run business on shared buildings due to compliance issue. On the other hand, Bangladesh’s competitor countries gained more space in the US market due to depreciation of their currencies against the US dollar. Viet