In the Philippines, even among business leaders there is still very little appreciation of Trans Pacific Partnership (TPP) for its beneficial effects on the Philippine economy. For instance, some claim that the contents of the TPP Agreement are a secret. The TTP is envisioned to be similar to the European Common Market. The goal is to eliminate trade barriers especially tariffs and quotas among countries in the Asia Pacific region. The first batch of signatories included Australia, Brunei, Canad

After a meeting between Finance Minister Ishaq Dar and a delegation of the All Pakistan Textile Mills Association (APTMA) led by its Chairman Tariq Javed on Saturday, announced the decision of imposition 10 percent regulatory duty on import of cotton yarn and grey and processed fabric from November 1. Dar said that it had also been decided in the meeting that Export Re-Finance Facility (ERF) rate would be reduced by one percent (100 basis points) whereas ginning and spinning sectors would qua

Chinese scientists have developed new smart fibers that react after exposure to certain stimuli, giving possibility to smart clothes, automatic window shades and artificial limbs with the sensitivity of human muscles. Ranging between a nanometer and micrometer in size, the fibers can be moved and controlled, capable of motion such as shifting clockwise or contracting, said Professor Peng Huisheng, who led the research team from Shanghai-based Fudan University. Inspired by the movement me

In January-August of this year, textile industrial enterprises above designated size (with annual turnover more than CNY 200 million) earned prime operating revenue of near CNY 252.56 billion, up 5.9% year-on-year. The total profits saw 7.5-percent growth year-on-year in this August, despite the further decline of national figure, which fell 1.9% year-on-year, expanding 0.9 percentage points compared to January-July period. In the same period, the prime operating revenue of the textile g

Mr. Nguyen Van Thoi, Chairman of the TNG Group, one of ten largest Vietnamese garment and textile companies, is seeking a site to build a new factory in northern Thai Nguyen city, bringing the Group’s factory numbers to 12. In June it launched a cotton production line in the city that will be able to supply more cotton to surrounding textile factories. Moreover, Mr. Thoi said, the company is preparing to issue corporate bonds this quarter, to raise about $10 million for future investment plan

The domestic garment and textile sector had to import a large quantity of cotton as the country's cotton output met only 1 per cent of local producers' demand, said the chairman. Viet Nam needs more than 500,000 tonnes of cotton per year to meet rising demand. Meanwhile, India had sufficient supply of material for the Vietnamese textile industry, he said. India is the world's second largest manufacturer of cotton, silk, cotton cellulose, and fibers with approximately US$100 billion in r

The government has decided to send a business delegation to Iran and Turkey in an aim to boost export of jute and jute goods to the countries. Led by textile and jute ministry officials, the delegation will include representatives from jute and jute goods exporters. In a meeting on export expansion the commerce ministry has also decided to explore export potentiality of jute and jute goods to the coffee, cashew nut and cocoa producing countries like Ghana and Nigeria. The meeting als

The world's leading athletic footwear and apparel maker Nike has announced a revenue target of $50 billion by the end of fiscal year 2020. During an investor meeting at its world headquarters near Beaverton, Oregon in the US, it also provided an overview of its progress on key strategic initiatives to achieve sustainable, profitable long-term growth. Nike also shared its long-term financial model of high single-digit to low double-digit revenue growth, mid-teens earnings per share growth and

India's cotton textile industry needs interest rates subvention, re-calibrated product market matrix to include exports to emerging markets as exports are growing in developed markets from the countries with preferential access, said R K Dalmia, Chairman, The Cotton Textile Export Promotion Council (Texprocil). India's exports of cotton textiles in August 2015 registered a decline of 7.39% to $863.18 million as against $932.02 million in the same month last year. Exports of cotton textiles

A Chinese delegation to the India Carpet Expo at Varanasi has shown keen interest handmade carpets. The textiles Ministry now believes China could be a major market for Indian handmade carpets, according to an official statement. The Carpet Expo drew more than 350 overseas buyers, in addition to 276 buying representatives, in the first three days. A delegation from Yiwu city of China visited the Expo on an invitation from the Carpet Export Promotion Council (CEPC). Wang Bi Rong, Director G