Vietnam garment industry despite being expected to benefit the most from the TPP, few of the 2,000 garment firms across the country have shown interest in it. Only large companies seem to have the capability to study and make preparations for the TPP as it is expected to bring more export opportunities, especially in the big markets of the US, Japan and Australia. According to the Ho Chi Minh City Association of Enterprises, only half of 200,000 small and medium-sized enterprises (SMEs) in th

The world economy has fallen below forecasts of even six months ago and will grow only modestly over the next two years due to “cyclical and structural headwinds,” including low commodity prices and stagnant investment, the United Nations has reported. It has urged steps to ensure stronger growth. “Stronger and more coordinated policy efforts are needed to ensure robust, inclusive and sustainable economic growth, which will be a key determinant for achieving the 2030 Sustainable Development G

Foreign Direct Investment (FDI) in the country’s ready made garment and textile sector have seen over 7% decline last year due to slow export growth in the apparel sector. RMG manufacturers and trade analysts attributed the reason to political unrest for the downswing of the FDI. According to the Board of Investment (BoI) data, in 2014, Bangladesh’s textile and RMG sector witnessed $391 million foreign investment, which was 7.34% less compared to $422 million in 2013. Bangladesh’s gro

One hundred US congressmen from cotton-growing states are pressing the Obama administration for price supports to help struggling US farmers, in the first push to introduce new subsidies since losing a trade case with Brazil last year. The House of Representatives members have signed a letter urging Secretary of Agriculture Tom Vilsack to allow cottonseed, a secondary product of the crop valued mainly for its fibre, to qualify for subsidies available to other oilseeds. Mike Conaway, chairman

The 10th FINA Synchronised Swimming World Trophy sponsered by GlobalTextiles.Com was held successfully on 12-13 November in Keqiao, Shaoxing. Host China dominated the team free routine and free combination at the 10th FINA Synchronised Swimming World Trophy in Shaoxing on Sunday, claiming the overall title one more time by sweeping four golds out of five on grabs. In the team free routine, China showed speed and power by performing the fighting Soldiers, composed by the Chinese musici

Firms from Singapore, Japan, Taiwan and South Korea, which have traditionally relied on low-cost production in China are seeing Chinese textile firms shifting out of China and making their way to Bangladesh as a result Bangladeshi textile value chain is rising faster than any other Asian countries according to Asian Development Bank. With rising production costs in other economies in general, setting up operations such as in Bangladesh and Vietnam has been on the rise. Apart from rising domes

The central parity rate of the Chinese currency renminbi, or the yuan, weakened for the sixth consecutive day to its lowest level against the US dollar since July 2011, on Monday. The yuan weakened by 137 basis points to 6.4495 on Monday, according to the China Foreign Exchange Trading System (CFETS). The correction came after the Chinese currency had appreciated 2.93 percent against the US dollar as of November, compared with the end of 2014, according to CFETS. "CFETS, run by the Peop

20 Italian textile machinery manufacturers will be exhibiting at the upcoming edition of Colombiatex, to be held in Medellin from January 26-28, 2016. “The common exhibition area created by the Italian Trade Agency and ACIMIT will allow visitors from all over South America to verify and appreciate the excellence of the Italian technology on show,” an ACIMIT press release stated. Among the Italian companies exhibiting at the show are A. Piovan, Carù, Cubotex, Fadis, Ferraro, Itema, Mactec,

Bangladesh’s textile value chain is rising faster than any other Asian countries because of low-cost manufacturing firms shifting out of China, according to Asian Development Bank (ADB). Firms from Singapore, Japan, Taiwan and South Korea, which have traditionally relied on low-cost production in China, have had to adjust. The progress in sector-level value chains’ intraregional production activities within sectors appears to be changing, with shares within industrial exports showing inter

Spanish global clothing giant Inditex, owner of the Zara brand, posted Thursday a 20-percent surge in nine-month net profits thanks to higher sales as the economy in its home market Spain improves. The group said in a statement that net profit rose to 2.0 billion euros ($2.2 billion) between February and October. The results are in line with expectations from analysts polled by Factset who forecast the company would post profits of 2.01 billion euros. Expansion efforts had weighed down