State Minister for Textile and Jute Mirza Azam said the government will sign memorandum of understanding (MoU) with China soon for Balancing, Modernisation, Rehabilitation and Expansion (BMRE) work of all the jute mills under the Bangladesh Jute Mills Corporation (BJMC), reports BSS. As per the MoU, the Chinese government will provide credit at 1.5 per cent interest to Bangladesh for executing BMRE work. The loan amount would be refunded within 20 years. The State Minister made this announ

The country fetched about US$ 0.2 million in the just-concluded fiscal year 2014-15 by exporting crocodile skins to the world market.A private crocodile farm-Reptile Farm Ltd (RFL) at Bhaluka, Mymensingh - exported skins of about 400 crocodiles to a Japanese firm in December last. Its officials expect more overseas sales in the current fiscal. This is the country's maiden crocodile skin export. Earlier, in 2010, the same farm exported some 67 frozen saltwater crocodiles of different age group

Garment manufacturers in Rangoon announced that they will push back against a minimum wage proposed by the Burmese government, claiming they cannot afford to pay laborers the 3,600 kyats (US$3.24) per eight-hour day recommended by an expert committee. More than 150 members of the Myanmar Garment Manufacturers Association (MGMA) convened on Thursday to discuss the proposal, which was announced earlier this week by Burma’s National Minimum Wage Committee. Following two years of research and

Polytex Far Eastern Vietnam, a subsidiary of the Far Eastern New Century Corporation (FENC) from Taiwan, has received an investment certificate from the People’s Committee of the southern province of Binh Duong to invest US$274 million into building a textile and garment production site. The 99-hectare project adds to FENC’s existing Apparel Far Eastern garment production facility established in 2007 in Vietnam Singapore Industrial Park I, also in Binh Duong. This investment is specificall

Multiple economic indicators in recent months suggest the Chinese economy is over the worst as pro-growth and reform measures take effect, according to the National Bureau of Statistics (NBS). "Positive changes are occurring due to government policies and reform measures," according to Sheng Laiyun, NBS spokesperson, who made the remarks in an interview hosted on the bureau's website on Monday. Sheng said that improvements in industrial output, fixed asset investment, and expanding consum

The textile ministry in consultation with the finance and revenue departments to look at the possibility of a duty cut on man-made fibre as high cost of key raw material for manufacturing blended garments is making Indian goods uncompetitive in the global market. Each year, nearly Rs . 900 crore worth of man-made fibre material is imported by garment makers. The textile industry has been intensely lobbying for duty cuts on both domestic and import fronts, had been given hope during the previo

Egypt has halted all cotton imports in a bid to assist the production and marketing of the local crop, the agriculture ministry said on Tuesday, signalling a change of course just six months after announcing an end to support for its farmers. "The decision aims to protect local production of cotton and resolve its marketing problems," it said in a statement, adding that cargoes shipped before July 4 would still be accepted. "The ministry is keen on Egyptian cotton regaining its glory on all

Garment exports grew 4.08 percent to $25.5 billion in fiscal 2014-15, according to data from the Export Promotion Bureau. Knitwear exports increased 3.13 percent year-on-year to $12.42 billion while woven shipments grew 5 percent to $13.06 billion in the immediate-past fiscal year. Export earnings from the apparel sector were 5.24 percent below the annual target of $26.9 billion. Over 80 percent of the country's export earnings come from the garment sector, which was able to reach its t

Textile printing industry in the UAE is set to gather momentum with the country now standing as the world's fourth largest trading centre of textiles, generating approximately $17.5 billion annually, the West Asian media has reported . The UAE can capitalise on the fast growing textile printing industry and the country has a huge potential to become one of the market leaders, chairman of International Expo Consults, Abdul Rahman Falaknaz has said. According to the Global Industry Analysts

Vietnam textile and garment industry attracts majority of the biggest foreign direct investment (FDI) projects as investor want to build the factory in Vietnam to capitalize on the opportunities from the Trans-Pacific Partnership (TPP). Early this week, the government of Binh Duong Province awarded an investment certificate to Polytex Far Eastern Co. Ltd. under Taiwan’s Far Eastern Group to develop a US$274-million clothing project. The biggest FDI project in the southern province in the year