The Vietnam domestic fibre manufacturers have been facing harsh competition from imported fibre. The Ministry of Industry with the aim to rescue and encourage domestic production has plans to increase import tax on polyester staple fibre (PSF) from zero to 2 percent. The Ministry plans to raise tax on staple fibre, coded 55.01, 55.02, 55.03, 55.04, 55.06 and 55.07, which are currently enjoying a zero tax rate. According to the Ministry of Industry and Trade, Viet Nam imports around 150,00

A new official report has highlighted China's mounting economic challenges, including how to boost exports, amid the slow recovery of the global economy and some countries resorting to currency depreciation. "The world economy is growing at an anemic pace, and consumption and investment is lackluster in many economies. Global trade growth lacks momentum," the Ministry of Commerce (MOC) said in a report released on Tuesday. China's export competitiveness is facing headwinds on two fronts: h

Trade with countries along the Belt and Road, a China-proposed initiative to enhance international connections, amounted to $236 billion in the first quarter of 2015. This translates to 26 percent of China's total exports and imports during the period. In the same quarter, exports to Belt and Road nations increased 10 percent year on year to $144.5 billion, outpacing a general 4.6 percent growth in exports during the period. The volume accounted for 28 percent of China's total exports,

Global buyers of Bangladeshi apparel products have recently expressed concern over the outflow of brand items to the local market and sought cooperation from the garment exporters to protect the image of the brands. Buyers raised the issue repeatedly at the Buyers’ Forum meeting in the capital as the products made for international buyers are being sold in the local market with the labels of the noted brands. At a meeting of the Buyers’ Forum on Monday buyers alleged that the image of th

After tough competition from cotton last year, the manmade yarn and fabric industry is expected to grow at a higher rate of five to seven per cent in 2015-16, on the back of stable crude oil prices. However, it is the domestic market that will see the larger growth, as Indian synthetic yarn and fabric performance has not been one of the best internationally. So, while companies in the segment are not expecting much from exports, the domestic market might bring back some sheen, they say. “Whil

2015 China Keqiao International Textiles, Fabrics & Accessories Exhibitiion(Spring) opens inChina Textile City International Convention & Exhibition Center today. Asoneofthe3domesticmajortextileexhibitions,theexpohasputupaperfectdemonstrationandtradingplatformfortextileenterprisesandtradingcompanies,purchasersandprofessionalspectators. With a total area of 34,000 square meters, thereare 1,332 booths from 635 exhibiting enterprises in this exibition. The main products of clothes, ho

Two Switzerland produced technical textile products are among the eight winners of the Techtextil Innovation Awards announced on day-1 at Techtextil . The first product to win an award in the ‘New Product’ category is the textile-based ECG belt, a product made in cooperation between the Swiss Federal Materials Testing and Research Establishment and industry. According to Swiss Textiles, a trade body, this belt enables the wearer’s cardiac frequency to be measured accurately over a period o

The Accord on Fire and Building Safety in Bangladesh has recommended the review committee for evacuation of two RMG factories as its engineers found cracks in the buildings during a post-earthquake safety assessment. The factories are Ethical Garments Limited located in the capital and Man Trust Sweater Limited in Gazipur. “The Accord has sent the names of two RMG factories for review. During the ongoing post-earthquake safety assessment, the retailers platform identified cracks in those b

Pakistan’s cotton output has risen by 11 per cent to 14.871 million bales this season compared to 13.391m bales a year earlier. According to Pakistan Cotton Ginners Association’s (PCGA) final phutti (seed cotton) report for the current season, Punjab has produced 10.896m bales, showing a growth of 13.14pc over 9.631m bales last season. Sindh recorded a growth of 5.7pc in cotton production at 3.974m bales as against 3.76m bales produced last season (2013-14). Cotton analyst Naseem Usman

The German consumers should change their attitude of paying low prices for garment items from Bangladesh, said Thomas Prinz, the newly appointed German ambassador to the country. “It is also necessary to influence discussions at home in Germany,” he said at a reception hosted by the Bangladesh German Chamber of Commerce and Industry (BGCCI) yesterday to welcome him. “We are asking Bangladeshi companies to invest in safety and security standards, in fire doors and sprinklers. We are pressin