Cambodian government Friday announced a grant of a two-year profit tax free to garment factories to encourage investment. Under the decision made during Friday's cabinet meeting, factories applied the licenses before March 14, 2005, will enjoy the preference. The aim of the decision is "to maintain the country's political and socio-economic stability, and the sustainability of the jobs got by 300,000 workers as well as their families," according to a government statement. Up to 2 million C

PHNOM PENH : Cambodia will extend a tax holiday for its garment sector until late next year to protect it from Vietnamese competitors and the expiry of US and EU safeguards in 2007, an official said. Neighbouring Vietnam will become a stronger competitor if it joins the World Trade Organisation later this year as expected, broadening its access to Western markets, Cambodian government spokesman Khieu Kanharith told AFP. "Their workers are skilful, their salaries are low and they have no work

JOHANNESBURG (AFP) - South Africa's trade relations with juggernaut China will be put to the test this week when Premier Wen Jiabao jets into Cape Town for talks centred around China's mighty textile industry. The South African economy, the biggest in Africa, has been hit hard in its own textiles sector by cheap imports and ready-made products from China and President Thabo Mbeki's government has come under increasing pressure to deal with the problem. Clothing companies and unions agree that

Pakistan, India and Bangladesh can make South Asia a well-built textile hub for the world if the three countries join hands for multilateral corporation and trade, according to local media reports quoted a Pakistani official as saying on Saturday. Haroon Farooki, President Karachi Chamber of Commerce and Industry (KCCI), made the remarks after inaugurating the seventh South Asian Association for Regional Cooperation (SAARC) Trade Fair 2006 in Pakistan's southwest port city Karachi. The SAARC

Woven velvet has replaced chenille fabric as enterprises have begun to purchase related materials and equipments. For years, chenille fabric has been very popular in China and around the world, due to its low price. However, it will exit the market gradually. In the future, yarns will be used in household spinning fabric even as the structure of fabrics will be more complicated and its design, more abstract. Zhejiang province is a home for household spinning fabric production. Source:Fibre2f

Japan and India decided on Thursday in Tokyo on a plan to encourage Japanese small and medium-sized enterprises to invest in India. The plan "marks a remarkable start for further activating Japan-India economic exchanges" and will help "internationalize technologies of Japan's small and medium-sized enterprises." Toshihiro Nikai, Japanese Economy, Trade and Industry Minister said at a news conference. Visiting Indian Commerce and Industry Minister Kamal Nath said that Japan's advanced techno

The establishment of a law normalising trade relations with the US would bring Vietnam one step closer to WTO membership and consecutive end of US quotas. Such a proposal was this week introduced in the US Congress but has been bitterly opposed by a group of elected politicians. They claim the bilateral deal negotiated with Vietnam carries risks for the US industry and threaten withdrawing support for the Bush Administration's trade agenda as a result. Legislation that would bring Vietnam one s

The export of clothing? by china had gone up by 27.3 percent during first five months of 2006, according to a release from the General Administration of Customs (GAC). Export of other textile products increased to 20.1 percent and that of machinery and electronic products grew to 31.6 percent. Import of steel products dropped by 27.6 percent whereas export of high-tech products went up to 33.1 percent. Exports dropped by 6.6 percent of crude oil and processed oil by 17.2 percent. Source:

The measure was released as Decision 126. Subsidies for textile and garment enterprises were one of the biggest problems in tough trade negotiations with the US, which voiced concern that overly high growth in Vietnam based on subsidies may threaten its own markets. US negotiators cited Decision 55 to prove that Vietnam continues subsidising the domestic textile and garment industry. Vietnamese officials said that the decision only mentioned solutions for industry development, and the US might

The Spanish government has approved more than ?00 million three-year aid plan to help the country's clothing and textile industry, which has been suffering from strong international competition in the past years, in particular from India and China. The Cabinet has approved a series of specific measures on the part of both Ministries are including in the 'Plan of Support to the Textile Sector and the Preparation', decided with the social interlocutors, industrialists and unions, and that will si