The long-awaited agreement between the South African government and China, for stopping imports of cheap clothing and textile to arrest the decline of domestic industry, is to be finalized soon, announced the Trade and Industry Deputy Minister Rob Davies, yesterday.The agreement would be similar to that which was signed between European Union (EU) and China, earlier this year, he added. The deal involved an agreement by China to stop the growth in imports of 10 Chinese textiles and clothing prod

German clothing makers were buoyant to expand their businesses this year, while most textile manufacturers performed low due to continued weak consumer spending and the elimination of quotas at the beginning of January.A research carried out by TextilWirtschaft, a German fashion business journal, shows that 84 percent of clothing manufacturers saw sales rise in 2005. Three-quarters of respondents said they increased profits in the year. Rising sales and profit made positive impact on investments

In a move to strenghten and improve China-Africa cooperation, leaders from China and African countries will meet in Beijing in autumn next year.Sources revealed that to discuss how to improve China-Africa friendly and cooperative ties, a diplomatic source with the Chinese Foreign Ministry informed media, Tuesday. Current trade trade volume as per official figures state that the trade between the two which stood at $1 billion in 2000 grew to over $34 billion in 2005. Acknowledging this fact, Khal

Mainland fabric makers face cotton price increases of as much as 15 percent and a squeeze on margins as the United States, the world's largest exporter of the commodity, eliminates export subsidies on the raw material in 2006, according to one manufacturer. Fountain Set, a Hong Kong-listed knitted fabric maker, told analysts the cotton price could surge by between 10 and 15 percent next year because of the end of the subsidies. Cotton is the main raw material for textile companies and accounts

Uzbekistan, the world's sixth largest producer of cotton and the second largest raw cotton exporter in the world, has reported increased figures in production of cotton fibre, up by 22.9 percent to 1,069 tons, for January-November 2005, said the Uzbek State Statistics Department.Last year, the production of cotton fibre went up by 3.3 percent to 976,656 in comparison to the previous year, whereas exports of cotton fibre increased by 18.5 percent. Production of raw cotton stood at 3.8 million ton

Vietnam plans to grant automatic visas as of Jan.1, 2006 for textile and apparel exports to the US. However, as soon as 70 percent of the export quota is achieved, automatic visas will stop and the ministries of Trade and Industry will regulate the remaining export volume. At a meeting of almost 200 northern textile and apparel enterprises in Hanoi on Dec. 27 to review the management of textile export quotas in 2005, Deputy Trade Minister Le Danh Vinh said that early quotas will be grante

CAPE TOWN ?Government was on the verge of concluding a voluntary restraint agreement with China to stem the flood of Chinese clothing and textile products into the country, Trade and Industry Deputy Minister Rob Davies said yesterday. Signature of the long-awaited agreement will go some way to assuage criticism of government? inaction by clothing and textile manufacturers and trade unions. Both labour and business have blamed the flood of cheap Chinese imports for the decline of the industry,

Strong competitions in the first public bid for China's textile quota to the US next year have pushed bid prices ten times above the minimum bid prices set by the Government.If the minimum bid price for men's woolen trousers was 12 yuan (US $1.5) per dozen, the bid opening price started at 192 yuan per dozen that is 15 times over the minimum bid price, according to sources.Cotton trousers were bidden at the minimum price of 8 yuan per dozen, while opening price was 102.The cost to export compani

An investigation has been initiated by the European Commission into the alleged dumping of Indian polyester spinning fibres in Europe, reported by a European trade body Foreign Trade Association (FTA).In response to a request made by French fibre association Comite International de la Rayonne et des Fibres Synthetiques (CIRFS), the Commission has taken steps to look into the matter.According to CIRFS, polyester producers of India have been selling their goods at cheaper rates in countries like C

United States Trade Representative (USTR) announced the brief summary of the US-Peru Trade Promotion Agreement.New Market Access for US Consumer and Industrial Products Eighty percent of US exports of consumer and industrial products to Peru will become duty-free immediately, with remaining tariffs phased out over 10 years. Key US exports will gain immediate duty-free access to Peru. Peru has agreed to allow trade in remanufactured goods, and will join the WTO Information Technology Agreement.Th