Producers of export quality garments are facing a reduction in orders, according to the Viet Nam Textile and Apparel Association (VITAS). Vu Duc Giang, VITAS chairman, said they were considering moving export garment orders from Viet Nam to Cambodia, Laos, and Myanmar, because customers of those countries would join the preferential export tax when exporting to the United States (US) and Europe. Meanwhile, the Trans-Pacific Partnership Agreement (TPP) and Viet Nam-European Free Trade Agree

CHINA’S economy will grow by around 6.7 percent in the second quarter of 2016, on par with that recorded in the first quarter, a leading think tank said in a report yesterday. The State Information Center, an institution affiliated with the National Development and Reform Commission, predicted that with infrastructure investment and the real estate sector gaining steam, the Chinese economy is likely to stabilize in the next six months. The country’s economy grew 6.7 percent year on year in

A total of 26 Italian textile machinery manufacturers has announced their participation in the forthcoming roadshow in Iran organised by the Italian trade agency, association of Italian textile machinery manufacturers (ACIMIT) and supported by the ministry of economic development, from May 22-30, 2016. The textile machinery roadshow in Iran will witness textile machinery manufacturers taking part in a series of technology symposia programmed in country's major cities. The roadshow aims to pro

India’s cotton export is expected to drop by over 10 per cent to 6 million bales in the current year ending September due to rise in domestic prices which have made the fibre uncompetitive in the global market. In the 2014-15 marketing year (October-September), India had exported 6.7 million bales (of 150 kg each). Bangladesh, Pakistan and Vietnam were among the major export destinations. "So far, we have exported 5 million bales. No further exports are taking place now because global pric

Bangladesh export earnings have seen a 9.22% rise to $27.63 billion in first ten months of the current fiscal year, riding on the ready-made garment sector. RMG sector, the life line of the country’s export and highest foreign currency earner, however, posted over 10% growth to $22.64, which was $20.56 a year ago. According to the data of Export Promotion Bureau (EPB) released yesterday, in July-April period of FY’15-16, the overall export earning posted a 9.22% growth to $27.63, which was

The textile industry has identified serious distortions in the electricity tariff resulting in the build-up of billions of rupees per month of unpaid refunds, making the industry unsustainable. In a letter to the National Electric Power Regulatory Authority (Nepra), the All-Pakistan Textile Mills Association (Aptma) has pointed out that the existing scheme of power tariff was not only creating problems for consumers, particularly the industry, but also the distribution companies. The Aptma

The Leather Goods and Footwear Manufacturers and Exporters Association of Bangladesh and Skills for Employment Investment Programme or SEIP signed an agreement to train workers in the leather sector to boost productivity. The SEIP is a project under the finance ministry which mainly deals with the financing of the training for producing a skilled workforce. A total of Tk 9.01 crore would be spent on training the workforce. Under the agreement, the association will offer training to 5,090 w

The Vietnam garment sector has earned an export turnover of $27.5 billion in 2015. With the current growth, the domestic garment and textile industry wants to revise a development plan to 2020 with vision for 2030 to match the progress of the country. The sector has set export turnover at between $50 and $50 billion by 2020, instead of targets set in the current plan, according to Vietnam Textile and Apparel Association (VITAS). All the garment and textile businesses have actively taken advan

The global smart textiles market was worth US$700million and is estimated to reach a value of US$7,730m by the end of 2023, projected to grow by nearly 30.80% between 2015 and 2023, according to the research study in 2014. One of the major factors driving the global smart textile market is increasing use of nanotechnology in smart textiles. The adoption of nanotechnology helps in enhancing the fabric with several features such as water and stain resistance, UV protection, and anti-bacteri

Sri Lankan export earnings from textiles and garments, which contributed nearly 52 percent to the total exports, improved by 13.3 percent in January 2016, reversing the declining trend prevailed in last quarter of 2015. But actually exports declined 2.5 percent to 893.9 million US dollars in January 2016 from a year earlier while imports plunged at a faster 5.5 percent to 1,589.1 million US dollars, according to official data. The deficit in the trade account contracted in January 2016, b