Free Trade Agreement between the two countries Turkey and Pakistan is under-negotiation. Trade will jump once FTA is finalized. Pakistan especially Lahore is an investment hub for the Turkish investors. Turkish Ambassador Mustafa Yurdukal said that friendly and cordial relations between Turkey and Pakistan should be translated into trade and economic ties. Ambassador Mustafa Yurkukal speaking at the Lahore Chamber of Commerce & Industry on Wednesday said that the Ambassador agreed with th

The textiles ministry has so far enlisted 21 e-commerce platforms for sale of handloom products, minister of state for textiles, Ajay Tamta said in a written reply to the Rajya Sabha this week. These portals generated sales worth Rs 9.54 crore in the first 9 months of current fiscal. However, there is no government online platform for sale of handloom items. “To promote e-marketing of handloom products, a policy framework was designed under which any willing e-commerce platform with good trac

Gap Inc., a leading global retailer offering clothing, accessories, and personal care products for men, women, and children, has recorded net sales of $4.8 billion for the fourth quarter of fiscal 2017, an 8 per cent increase, with sales of $15.9 billion for full year 2017. The company’s fourth quarter fiscal 2017 comparable sales were up 5 per cent. The company’s operating margin for fiscal 2017 was 9.3 per cent compared with 7.7 per cent last year. The company’s adjusted operating margin fo

Karl Mayer, Germany’s leading textile machine manufacturer, will show market-specific and innovative textile machinery systems for the Turkish market at ITM 2018, the 34th international textile machinery exhibition, which will be held from April 14 to 17, 2018, at the Tüyap Fair Convention and Congress Centre, in Istanbul, Turkey, in hall 7, stand 709. Karl Mayer is specifically targeting producers of home textiles and stylish, functional clothing by exhibiting products for the warp knitting

Real gross domestic product (GDP) of the US increased at an annual rate of 2.3 per cent in 2017, according to the ‘second’ estimate released by the Bureau of Economic Analysis. In 2016, real GDP had increased 1.5 per cent. The GDP estimate is based on more complete source data than were available for the ‘advance’ estimate issued a month earlier. The increase in real GDP in 2017 primarily reflected positive contributions from personal consumption expenditures (PCE), non-residential fixed inve

The government has decided to take legal action against the readymade garment factories inspected under the national initiative that will fail to complete remediation work by April. The labour ministry in a recent meeting to review the progress of Remediation Coronation Cell came to a firm decision that the Department of Inspection for Factories and Establishment would file case against factories, which will fail to complete remediation in time, in May. This would be imminent as the compa

WTO director-general Roberto Azevedo attends the APEC Ministers Responsible For Trade meeting in Hanoi, Vietnam, May 20, 2017. [Photo/VCG] World Trade Organization (WTO) director-general Roberto Azevedo on Monday called on members to avoid triggering an escalation in global trade barriers. "In light of recent announcements on trade policy measures, it is clear that we now see a much higher and real risk of triggering an escalation of trade barriers across the globe," said Azevedo in a mee

Vietnam wants to invest in telecom, agriculture, IT, textile, oil and gas, infrastructure sectors of Bangladesh due the country's low-cost production facilities and large market, said Tran Dai Quang, president of the Southeast Asian nation. “There is a lot of opportunity for investment given the current size of the economy of Bangladesh,” he said at the 'Vietnam-Bangladesh Business Forum', organised yesterday by the Federation of Bangladesh Chambers of Commerce and Industry. Tran went to r

European brands are set to steal the show at the upcoming Intertextile Shanghai Apparel Fabrics show in China, one of the leading apparel fabric and accessories exhibitions in the world. The show that provides an excellent opportunity for overseas suppliers to build stronger relationships, will be held from March 14 to 16, 2018 in Shanghai, China. SalonEurope will show a range of products across the whole textile spectrum on offer. Celebrating its 100-year anniversary this July, Alumo has un

Three of the ten firms to have recently joined the ZDHC Roadmap to Zero Programme are from textiles. These organisations commit to working on the programme’s vision of widespread implementation of sustainable chemistry, driving innovations and best practices in the textile, apparel and footwear industries to protect consumers, workers and the environment. The new textile organisations joining as the value chain affiliates are ACS Textiles Bangladesh Ltd, Salirone and Santori Pellami Spa. ACS