Sri Lankan apparel sector expects the return of European Union's trade concession GSP Plus which is likely to balance out potential effects from the TPP agreement, the biggest global trade agreement in two decades. Sri Lanka's Industry and Commerce Minister Rishad Bathiudeen speaking at his Ministry's annual Ransalu textile expo inauguration event on 18 December at BMICH in Colombo stressed that the Trans Pacific Partnership (TPP) agreement signed in early October needs to be studied further

China and South Korea will cut tariffs on certain traded goods as the free trade agreement (FTA) between the two countries came into force on Sunday (December 20). The FTA aims to eliminate all tariffs eventually with gradual removal of barriers through the years. The two countries concluded talks on the FTA in November 2014. Seoul believes the FTA will enable South Korean companies to expand substantially in the world's largest consumer market and boost bilateral relations in trade and ec

A press conference was held by Hikmet Eraslan, CEO of Dosso Dossi Holding to kick off the biannual Dosso Dossi Fashion Show in the resort city of Antalya. Speaking at the press conference, Erasland said that textile firms from China, India, Italy and others to boost its presence in the Russian marketing have starting meeting business delegations in Russia in a bid to utilize the absence of Turks in the market, following the jet crisis, wherein Turkey shot down a Russian fighter jet over an airsp

China, the world's top cotton consumer, will produce 5.6 million tonnes of the fibre in 2015, down 9.3 percent from the previous year, said the National Bureau of Statistics on Friday, blaming the decline on a drop in planted acreage for this year's crop. The figure is higher than recent trade estimates, many of which put this year's cotton output at less than 5 million tonnes after poor summer weather pulled down yields. "Considering the inventory and poor domestic consumption, (the output

THE yuan yesterday weakened for the 10th day against the US dollar as China’s central bank set the official reference rate at the lowest since 2011 following the US interest rate hike. The yuan fell 0.16 percent to close at 6.4837 against the US dollar in Shanghai. It is the second time since November that the yuan has been weakening for 10 straight days. The People’s Bank of China yesterday set its official central parity rate at 6.4757 per dollar prior to the market open, its weakest sin

South Africa's Department of Trade and Industry (DTI) has welcomed Chinese company Yi Li Da Sa R150 million ($10 million) blanket factory which is expected to create 1000 direct jobs in Boksburg, Gauteng, the state-run South Africa news agency has reported. The Chinese company last week opened the eco-friendly factory that will produce textile products using recycled polyester products such as plastic mineral water bottles. Acting Head of Investment Promotion and Interdepartmental Clearing

After a Russian jet was shot down along the Syrian border on November 24 2015, Russia has imposed economic sanctions on Turkey. Moscow has banned the import of some Turkish goods, imposed restrictions on travel, and plans to stop some Turkish companies doing business in Russia. Turkey's ready-to-wear exporters, who have been affected by the Moscow sanctions, eye new markets in Africa to compensate the Russian losses in textile. Hikmet Tanriverdi, head of the Istanbul Ready-Made Garment

All Pakistan Textile Mills Association (Aptma) to call a conference of stakeholders of the entire textile chain, including value-added sector, this month to evolve a joint protest strategy after having received in writing from hundred textile mills of Punjab to close their units if the federal government fails to address non-viability of the industry and restore its competitiveness. About 70 textile mills have already closed down in Punjab due to commercial non-viability and complete gas sus

Vietnam's fast-growing market has attracted a large number of Taiwanese companies with investment plans. In fact Taiwanese companies are among the first foreign investors in Vietnam with plan to invest in a textile production chain to benefit from the upcoming, Trans Pacific Partnership (TPP) said John Tang, director of the Taiwan Trade Centre (TAITRA) office in HCM City at a recent press conference. Taiwanese businesses have pumped US$1.11 billion into 154 projects in Vietnam over past 11 m

Pakistan Tehreek-i-Insaf Punjab organiser Chaudhary Sarwar says the rulers are responsible for the closure of textile mills due to a gas supply cut and costly electricity. He told reporters at a ceremony on Tuesday, 70 textile mills had already been closed in Punjab and now 100 more faced closure. This, he said, would open floodgates of unemployment. He said the ministers were making tall claims about strengthening the economy but some 110 million people were still living without two meals