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  • Export of readymade garments to US market in the month of June has declined by 16 per cent because of a phase out of quota provided by the US government for readymade garments, beginning January 2005. The decline rate of export in May was higher than June. Export of such items to US in May declined by 50 per cent, reveal statistics produced by Garment Association of Nepal (GAN). In the month of June last year, readymade garment export had declined by 46 per cent. The declining rate of export thi
  • The International Labor Organization (ILO) has found a slight improvement in Cambodia's garment factory working conditions, although issues of overtime and occupational safety and health continue, according to its latest report released on Wednesday. The ILO's Better Factories Cambodia (ILO-BFC) Program report said it saw "a slight improvement in factories' overall compliance with labor law standards." The findings were based on ILO-BFC factory assessment reports on 393 garment and footwea
  • The US government has excluded textile, garment and apparel, Philippines leading exports to the US, from zero tariff privilege under its newly extended Generalized System of Preference (GSP) although it gained preferences for travel goods. President Barack Obama signed last week the Trade Preferences Extension Act of 2015 (H.R. 1295), which will reauthorize the U.S. Generalized System of Preferences (GSP) Program until 31 December 2017, at the same time renewing the African Growth and Opportu
  • China will kick off sales from its cotton reserves on July 10, according to a statement from the stockpile agency, but traders warned demand was likely to be poor given the inventory available in the market and relatively high state prices, now at a premium to futures. The September cotton contract on Zhengzhou dropped by the maximum allowed daily amount on Wednesday amid a broad commodities sell-off sparked by stock market turmoil in China. Chinese share prices have plunged more than 30
  • The International Finance Corporation of the World Bank group on Wednesday announced it would provide US$ 50 million financing for the local banks for making loans available for the garments factories for remediation. The IFC will provide US$ 10 million each in financing to five Bangladeshi banks which will allow them to increase lending to garment factories to improve their structural, electrical and fire safety infrastructure, said a press release issued by the corporation on the day. Th
  • With the Chinese economy dwindling further, export potential for synthetic yarn in the Indian industry has fallen sharply again. China, which imports synthetic yarn from India to convert it into fabric and garment, has seen production being cut drastically. "The recent market crash in China has a lot to do with bleak outlook of domestic production in almost all sectors, including textiles. Units in China have been cutting down on production due to decline in the world's buying capacity for te
  • The cotton prices moved lower for the second consecutive day on Wednesday due to lack of interest by both ginners and spinners. The Karachi Cotton Association (KCS) reduced its sport rate by Rs100, to Rs4,850. Floor brokers said ginners were least interested to enter in new deals as they sought to clear the advance deals they had entered in high prices as compared to the prevailing prices. They said arrivals of phutti (seed cotton) have increased and farmers are forced to sell their crop
  • The Egypt’s agriculture ministry on Tuesday took a decision to temporarily ban cotton imports to improve and protect domestic cotton production and defend the interests of cotton producers, manufacturers and exporters of the country as it fear that its textile industry may end up paying the price. The decision dictates that all imported cotton will not be allowed in the country for an indefinite period of time, excluding imports shipped before 4 July. However, in a country where textile manuf
  • 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
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