INTERNATIONAL
Textile Raw Material Price 2016-03-22
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1085.29 |
USD/Ton |
-0.71% |
3/22/2016 |
|
VSF |
2107.37 |
USD/Ton |
0.15% |
3/22/2016 |
|
ASF |
1923.15 |
USD/Ton |
0% |
3/22/2016 |
|
Polyester POY |
1094.54 |
USD/Ton |
0% |
3/22/2016 |
|
Nylon FDY |
2281.57 |
USD/Ton |
0.34% |
3/22/2016 |
|
40D Spandex |
4547.72 |
USD/Ton |
0% |
3/22/2016 |
|
Nylon DTY |
2512.81 |
USD/Ton |
0% |
3/22/2016 |
|
Viscose Long Filament |
5745.54 |
USD/Ton |
0% |
3/22/2016 |
|
Polyester DTY |
1287.24 |
USD/Ton |
0% |
3/22/2016 |
|
Nylon POY |
2111.99 |
USD/Ton |
1.11% |
3/22/2016 |
|
Acrylic Top 3D |
2108.14 |
USD/Ton |
0% |
3/22/2016 |
|
Polyester FDY |
1182.41 |
USD/Ton |
0% |
3/22/2016 |
|
30S Spun Rayon Yarn |
2851.96 |
USD/Ton |
0% |
3/22/2016 |
|
32S Polyester Yarn |
1757.42 |
USD/Ton |
0% |
3/22/2016 |
|
45S T/C Yarn |
2466.56 |
USD/Ton |
0% |
3/22/2016 |
|
45S Polyester Yarn |
1865.34 |
USD/Ton |
0% |
3/22/2016 |
|
T/C Yarn 65/35 32S |
2127.41 |
USD/Ton |
0% |
3/22/2016 |
|
40S Rayon Yarn |
2990.70 |
USD/Ton |
0% |
3/22/2016 |
|
T/R Yarn 65/35 32S |
2466.56 |
USD/Ton |
0% |
3/22/2016 |
|
10S Denim Fabric |
1.08 |
USD/Meter |
0% |
3/22/2016 |
|
32S Twill Fabric |
0.90 |
USD/Meter |
0% |
3/22/2016 |
|
40S Combed Poplin |
0.98 |
USD/Meter |
0% |
3/22/2016 |
|
30S Rayon Fabric |
0.73 |
USD/Meter |
0% |
3/22/2016 |
|
45S T/C Fabric |
0.74 |
USD/Meter |
0% |
3/22/2016 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.15416 USD dtd 22/03/2016)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
Textile maker Alok Industries cannot sell its assets or change its equity structure, stalling the process set in motion by Indian banks to recover debt, because the Bombay High Court today ordered that no action is taken until a winding up petition against filed by HSBC against the company is settled. The court set the next hearing to April 6. HSBC has filed on behalf of a consortium of unsecured lenders led by VTB Capital a petition to liquidate Alok Industries and settle outstanding dues of $55 million, from a loan of $125 million that the company had taken. For it, the company had offered guarantee in an off-shore holding company which has no assets that can be seized by these lenders, said another person familiar with details.
Last week ET had reported Bulge-bracket private equity funds TPG Capital Management and KKR & Co LP, Vardhman Group, Trident and a brand new special situations joint venture between Ajay Piramal Group and Brescon were vying to take control of debt-ridden Alok Industries, one of India's largest exporters of home textiles. In view of the story, HSBC filed a follow up petition to prevent any such sale pending its issues. Trilegal, the empaneled firm is representing HSBC. Sharan Jagtiani is presenting for Alok Industries. Alok Industries is in the process of undergoing a strategic debt restructuring in which a joint forum of 25 banks led by State Bank of India that lent around Rs 13,000 crore to the company, decided in January to convert loans into a 65% equity stake. SBI Capital Markets has since been mandated to run a formal auction process to sell the core businesses as a whole or in parts, and had called an extraordinary general meeting earlier this week. While the process is aimed at repayment of secured lenders, mostly public sector banks it has no proposals for unsecured lenders - who as the term suggests rank lower in the repayment scheme.
SOURCE: The Economic Times
India’s spun yarn exports in February 2016 were up by 22.8 per cent in volume terms while it declined 17.3 per cent in value terms. Spun yarn (all kinds) shipments in February 2016 were at 158 million kg worth US$307.9 million while the average unit price realisation was down US$0.95 a kg as compared to the same month last year. Chinese demand for Indian yarn has been reduced due to rising imports from Vietnam which is the second largest yarn exporting country to China. Also, China restricted foreign yarn imports since domestic prices were lower than import prices after taking account of import tariffs and taxes there. However, the fall of cotton yarn exports from India to China was partly offset by a rise to other destinations, like Bangladesh.
In February 2016, 87 countries imported spun yarn from India, with China accounting for 27.4 per cent of the total value with imports edging down 1.3 per cent in terms of volume YoY and plunging 45.3 per cent in value YoY. Bangladesh, the second largest importer of spun yarns, accounted for around 17.8 per cent of all spun yarn exported from India. However, export to Bangladesh surged 178.2 per cent in volumes and 16.4 per cent in value. Egypt was the third largest importer of spun yarns, which saw volume rising 3.3 per cent and value declining 5.3 per cent. These three top importers together accounted for more than 50 per cent of all spun yarns exported from India in February. Further, cotton yarn export was at 139.3 million kg in February with 74 countries importing yarn from India in February 2016. The average unit price realization was down US$0.83 a kg from previous month and US$1.06 a kg down from the same month a year ago.
China was the largest importer of cotton yarn from India in February, followed by Bangladesh and Egypt. The top three together accounted for more than 57 per cent of cotton yarn exported from India. Pakistan, Turkey, Poland and Thailand were among the fastest growing markets for cotton yarn, and accounted for 9.1 per cent of total cotton yarn export value. Eleven new destinations were added for cotton yarn export, of which, Honduras, Finland, and Bulgaria were the major ones. Twelve countries did not import any cotton yarn from India, including Dominican Republic, Panama, Côte d'Ivoire, Mozambique and Czech Republic. In February 2016, significant deceleration was seen in export to France, Syria, Slovenia, Chile and Brazil.
SOURCE: Yarns&Fibers
India's exports by March are expected to touch between $260 billion and $270 billion, but the government hopes the exports to be stronger next year due to strengthening of petroleum and commodity prices globally. Union Commerce Secretary Rita Teaotia said: "We are already seeing the prices of petroleum products rising slightly, we are seeing some of the commodity prices strengthening and most countries and everybody has been hurt by the slowdown in the global trade and everyone's exports have slipped. Most countries are taking strong measures to protect their industry and help exports. This is going to balance out. We should be stronger next year I believe, those are the trends we are seeing as of now." She said that while exports are falling due to contraction in global demand, a few sectors such as Pharma, some segments of gems and jewellery and textile and garment sector have either retained their market share or growing it, which will help them to realise better prices when the global economy rebounds. Teaotia said that the fall in exports is due to a combination of factors such as low commodity prices, fall in petroleum product prices, and currency devaluation by several countries that affected the competitiveness of Indian products.
SOURCE: The Business Standard
The government has decided to undertake a joint exercise, involving officials from different ministries, to expedite various clearances required for trade amid concerns that the country’s export competitiveness has been severely undermined by procedural delays. The proposed exercise will be undertaken jointly by the departments of shipping and revenue, and the department of commerce will also keep a vigil, a senior government official told FE. A reporting system on delays for clearances, particularly at large ports and for important trade segments including auto components and electrical machinery, would soon be put in place so that the process can be tracked regularly and delays at every stage can be addressed quickly, he added. The decision was taken at a meeting chaired by commerce secretary Rita Teaotia this month, which was attended by senior officials from the ministries of finance, commerce, shipping, railways and aviation, the sources added. India’s merchandise exports plunged 16.7% to $238.41 billion during the April-February period.
SOURCE: The Financial Express
In a press release, S C Ralhan, President, FIEO, said the 5.66 per cent decline in the trade data for February 2016, is largely on account of low export base in February, 2015 which itself was based on 15 per cent decline on year-on-year basis. “Going by the current trend, we would touch $260 billion in 2015-16, a drop of about $50 billion in merchandise exports as compared to 2014-15. However, similar decline in imports which too was on a low base has helped us in reducing the trade deficit further but its effect on country’s manufacturing needs to be assessed through sectoral analysis of imports. The sharp decline in gold imports has helped in reducing the trade deficit,” he said.
Ralhan said exports will continue to face challenging times in 2016 and improvement is expected from the last quarter of 2016. He also said that exporters are already working on low margins and facing cut-throat competition besides huge volatility in currency. The imposition of minimum import price (MIP) resulting in increase in steel prices by 15 per cent has further blunted the competitive edge of Indian engineering sector. While engineering exports have declined by about 16 per cent in first 11 months of the current fiscal, auto and auto components, cycle and cycle parts, hand tools, industrial and electrical machineries are the worst sufferers. He said that the MIP imposed on 173 steel products covers roughly 80 per cent of steel imports and thus impact engineering sector hugely. “Government needs to strike a balance between the interest of few large steel companies at the cost of thousands of micro, small and medium units which together provides more than 100 times of the jobs provided by large steel companies,” Ralhan said.
According to the FIEO chief, the imposition of MIP has resulted in anomalous situation as manufacturing units catering to both exports and domestic market may import at international price for exports while for domestic production at MIP from the same supplier and the huge differential in the two prices may subsequently land them in the net of investigating authorities. Ralhan said that Government should provide steel to all export companies particularly in MSME sector at the international prices without compelling them to go through advance authorisation route which requires a minimum quantity of imports for economic viability and thus not suitable to their requirement.
SOURCE: Fibre2fashion
Indian industries have managed to maintain and increase their market share in most of the sectors despite countries all over the world experiencing fall in exports, Union Commerce Secretary Rita Teaotia said today. "... it is not just India that has seen fall in exports, China last month reported 25 per cent fall in exports. Europe, US, (in) all countries the demand has contracted, this is the situation," Teaotia told reporters here. "We are going to have to see that we strengthen our industry to be able to ride out this period, to maintain the market share; and I may assure you that most of the sectors are managing to maintain their market share, even increase their market share." "It is the price realisations which have reduced and which hopefully as the commodity prices begin to improve and the global economy strengthens, those will also go up."
Teaotia was speaking to reporters after meeting exporters along with the state government officials here. She said sectors like pharmaceutical gems and jewellery have been good news for the country in exports. Pharma sector has continued to remain robust and to increase its market share across the globe, textile sector and garments export in some markets continued to remain robust, she said, adding that gems and jewellery has certainly "held its own." Engineering exports except for the last three months have performed very well, she said.
On India's export situation, she said figures for the last more than one year have not been at all positive, and it is an "issue" that "concerns" all of us. She said "the commodity prices have hardened throughout the world, what we are seeing is of course sharp fall in petroleum prices which is all good for India, but also we have been seeing a sharp fall in the prices of other commodities." There has been currency devaluation in many countries which has affected the competitiveness of Indian products and there has been contraction of global demand, she added. Responding to a question about the concerns that were shared by the exporters at the meeting today, she said regarding the state government issues were about tax refund, land availability and stamps duty, among others
SOURCE: The Economic Times
Adjustment in exchange rates and reforms in areas like land, labour and logistics would help enhance competitiveness of India's trade in the global markets, research firm CUTS International (Consumer Unity & Trust Society) today said. "Given the important role that trade can and should play in our economic growth, relevant government agencies in India need to adjust exchange rates in a manner that they make our trade more competitive, without much pressure on our inflation," it said in a statement. It also said the government should take immediate steps both at the centre and state level to bring reforms in areas like land, labour, capital and logistics. Overvalued rupee and inadequate structural reforms are affecting India's trade competitiveness in the global market, it said adding exports of goods such as petroleum products, gems and jewellery, readymade garments have come down both in value and volume terms. Global factors too are contributing to the slowdown of the world trade, CUTS International said. During AprilFebruary period of this fiscal, cumulative exports declined 16.73 per cent to $238.41 billion, as against $286.3 billion in the same months of 201415. Imports too dipped 14.74 per cent to $351.8 billion in the 11month period, leaving a trade deficit of $113.38 billion. The trade gap was $126.29 billion in the same period of 2014 15.
SOURCE: The Economic Times
India has informed the World Trade Organization (WTO) that it is in the process of expanding its trade agreement with MERCOSUR (a trading block of Argentina, Brazil, Paraguay and Uruguay) to cover a sizeable portion of bilateral trade as some countries raised questions about the agreement at the meeting of the Committee on Trade and Development held last week. "The representative of India said that parties to the agreement have agreed on the need to "significantly increase" the number of tariff lines so that it covers a "sizeable portion" of bilateral trade," said the WTO in a statement.
Several WTO members raised questions about the MERCOSURIndia agreement relating to the limited coverage of the agreement, whether more members would be included in the deal, how mutual recognition of measures for food safety and animal and plant health is implemented, and when pending submissions for the parties' nonnotified agreements would be ready. The trade agreement, which entered into force in 2009, covers over 450 tariff lines for each country. The latest exchange of request lists to expand the deal's coverage undertaken in 2013, is still under review.
SOURCE: The Economic Times
India is rising, not only as a new choice of relocating labour-intensive industries from China, but also as a retail market of good potential, says a research report by The Hong Kong Trade Development Council (HKTDC). In recent years, the sustained rise in production costs on the Chinese mainland has eroded the profit margins of many Hong Kong companies with labour-intensive factories located on the Chinese mainland, prompting them to seek alternative production bases elsewhere. While Southeast Asian countries offer many choices, the HKTDC report says India offers many advantages as an alternative production base, along with the added advantage of having a domestic market of great potential. According to the report, the majority of Indian garment producers are focused on the domestic market, as their product quality was generally lower than the standards required by overseas importers.
Despite this, many big Indian exporters have successfully lined up with international buyers, including department stores, retail chains and brands. The paper was written after a recent field trip to India that included factory visits and interviews with garment manufacturers. In the four years to 2014, India's garment exports increased at an average annual rate of 12 per cent, surpassing China's 9 per cent, in line with Bangladesh's 13 per cent and eclipsed by Vietnam's 17 per cent. With advantages of raw materials and prospects of vertical integration, India is a strong garment exporting country and a location worth considering for factory relocation in relation to labour-intensive manufacturing, such as garment-making. The report pointed out that while China is the undisputed world leader in exporting textiles and garment products, many have overlooked India's position as the world's second biggest exporter of textile and garment products in 2014, selling a total of $36 billion, during the year, far behind China's $399 billion.
For textile exports alone, India was second after China in 2014, with a share of 5.8 per cent of the global market, compared to China's enormous 35.6 per cent share. HKTDC says it is not surprising that the bulk of garment manufacturing in India is for the domestic market, supported by the country's huge capacity in textiles production. India stands out to be a substantial exporter in both garments and textiles. In 2014, India imported textiles worth only $3.8 billion, lagging much behind Vietnam's $12 billion, Bangladesh's $6.8 billion, and just ahead of Cambodia's $3 billion, the report said.
SOURCE: Fibre2fashion
The rupee on Tuesday fell by another 18 paise to close at 66.71 a dollar on persistent demand for the American currency from banks and importers on the back of higher greenback overseas despite sustained foreign capital inflows in domestic equities. The rupee resumed lower at 66.58 per dollar as against the yesterday’s closing level of 66.53 at the Interbank Foreign Exchange market and dropped further to 66.84 on sustained dollar demand from banks and importers before ending at 66.71, showing a loss of 18 paise or 0.27 per cent. The rupee has dropped by 21 paise or 0.32 per cent in the last two sessions. It hovered in a range of 66.52 and 66.84 per dollar during the day. The dollar index was up by 0.22 per cent against a basket of six currencies in the late afternoon trade. The dollar climbed yesterday, paring its weekly decline last week. The US dollar steadily strengthened against its main rivals during Monday’s session after two regional Fed presidents said they would support the Federal Reserve raising interest rates at its April meeting.
SOURCE: The Hindu Business Line
The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 38.51 per barrel (bbl) on 22.03.2016. This was higher than the price of US$ 38.13 per bbl on previous publishing day of 21.03.2016.
In rupee terms, the price of Indian Basket increased to Rs 2562.63 per bbl on 22.03.2016 as compared to Rs 2535.91 per bbl on 21.03.2016. Rupee closed weaker at Rs 66.54 per US$ on 22.03.2016 as against Rs 66.50 per US$ on 21.03.2016. The table below gives details in this regard:
|
Particulars |
Unit |
Price on March 22, 2016 (Previous trading day i.e. 21.03.2016) |
Pricing Fortnight for 16.03.2016 (26 Feb to 11 Mar, 2016) |
|
Crude Oil (Indian Basket) |
($/bbl) |
38.51 (38.13) |
34.82 |
|
(Rs/bbl |
2562.63 (2535.91) |
2356.62 |
|
|
Exchange Rate |
(Rs/$) |
66.54 (66.50) |
67.68 |
SOURCE: PIB
The Pakistani Textile Ministry is working on a comprehensive strategy based on value addition to invigorate the entire cotton chain in order to double the textile exports. Senior Joint Secretary of the Ministry of Textile Ms Robina Warsi said the exercise is underway following a specific directive of Prime Minister Nawaz Sharif. Addressing the inaugural function of DICE Textiles – 2016 Innovation Event at the National Textile University in Faisalabad, she said that Pakistan is among top cotton producing countries of the world. “Our economy is textile based and hence, value addition is imperative to re-organise this sector on modern scientific lines,” she said. She said that Prime Minister Muhammad Nawaz Sharif is personally monitoring the overall performance of Textile Ministry and on his directive, the Ministry was engaged in compiling a new strategy based on optimum value addition of cotton chain. "It would not only strengthen the textile sector but also to enhance its share in international textile exports", she added.
Stressing the need for the expeditious development of technical textile, she said that specific needs of various sectors could be addressed by exploiting the benefits of innovation in this field. She said that industry-academia linkage is the first step towards this direction and hoped that with innovation, Pakistan would emerge as textile leader in the international markets during the coming years. Ms Warsi also appreciated the efforts of DICE Foundation USA for the promotion of industry-academia linkage and said it is imperative to organise the textile sector on modern scientific lines. She also requested the textile producers to remain in touch with the Ministry and inform them about their problems so that immediate and necessary steps could be taken to redress their grievances. Dr Khurshid Ahmed, Co-Chairman, DICE 2016 said, “The modern trends are reflective of industry-academia linkage and we should also restore this missing link in Pakistan so that our industry could also compete in the international markets.” Dr Tanvir Hussain Acting Rector National Textile University said that the university has focused on the development of new textile technologies in addition to the commercialisation of modern research to develop value added textile sector.
SOURCE: Fibre2fashion
Mexico's textile sector is eyeing growth of 4% this year but faces looming threats including the Trans-Pacific Partnership (TPP) and Donald Trump's proposal to barricade its US border – which some executives estimate could trigger $2bn in annual trade losses. A 6% to 7% jump in export value will drive this year's hike, predicts Juan Alfonso Ayub, president of main textiles trade lobby Canaintex, adding that domestic demand is also set to increase as a sagging peso fuels import substitution. "It's going to be a better year," Ayub says, speaking only for textiles and not apparel manufacturers. "We are seeing more US demand and a sharp drop in sub-valued imports" from Asia, which were soaring two years ago before Mexico City introduced provisions that have largely stamped them out. That said, Ayub notes the TPP is a rising red flag at a time when Mexico continues to lose market share to Vietnam and other formidable Asian rivals. The 12-nation pact – of which Mexico is a member – was agreed between the United States, Japan, Australia, New Zealand and other Pacific Rim nations such as Vietnam and Malaysia in October. "We are very worried, this country [Vietnam] is an evident risk to our country and enjoys big government subsidies," he says. "Fifteen years ago, we were the number one or two supplier to the US. Now we are the fifth or sixth."
As part of the game-changing potential of the TPP, Latin America's second-largest economy negotiated a 16-year, 25% average duty phase-out for 80 key apparel and textile products. Yet Ayub says that's insufficient to protect suppliers from Vietnamese competition and the lingering risk that China will use its neighbour to triangulate exports. "Eighty products is nothing," he says. "There are 1,300 textile categories that could be affected." Ayub claims US concessions to Vietnam give it an unfair sourcing advantage, notably the so-called Import Allowance Program and short-supply rules enabling it to import fabric from China relative to US cotton purchases. Canaintex will lobby Mexican legislators to keep the textiles sector's concerns in mind when debating the TPP, whose timeline will be synced to US Congress discussions with an as yet uncertain time frame. Ayub says spinners, which send mainly send cotton and polyester products to the US, are moving to develop more value-added items to supply local full-package firms looking to thwart Asian rivals. More "intelligent fashion" and printed fabrics like denim with Tencel, modal or bamboo as well as polyester yarn, are some examples, he says, adding that Mexico is also boosting its output of synthetic, microfibre, thermal knit and thermo-cool fabrics. There are also plans to develop agave-based fabrics.
According to Ayub, Mexico is making 30-35% more value-added, niche products than five years ago. In jeans, for example, price points have risen to as much as $120 compared to $30. Arturo Vivanco, president of the Guadalajara branch of apparel trade lobby Canaive, says the industry hopes to receive more information about the government's final deal with the 11 TPP countries. "They haven't told us that much and the TPP is practically at our door front," he notes. Apart from Vietnam, "we are going to have more competition from Malaysia, Bangladesh and Afghanistan so we need to understand how all the rules will work." Donald Trump wall Meanwhile, Donald Trump's escalating animosity with Mexico and rising threats he would build a 3,200-kilometre fence on the Mexican-American border to stem immigration should he be elected the next US president, is putting both spinners and weavers on tenterhooks. Canaive's general manager Jose Manuel Martinez estimates the wall could cut $2.2bn or 20% of the $11bn in US-Mexican textiles and apparel trade in its first year, if ever built. Trump's "proposal is out of proportion," he charges. "I don't understand how he can say the US has a deficit with Mexico." Mexico is the US's number one cotton and fabric customer, he emphasises, with several US firms churning out yarn and garments or sending fabric to be assembled in Central America and re-looped into Mexico for final stitching.
The Republican presidential front-runner "does not understand how integrated our economies are and how they are becoming more and more integrated each day," adds Martinez. "The amount of feedstocks we import generates US jobs, the amount of apparel we export creates US retail jobs." "If Trump proceeds with this wall, the US will suffer. It will have a geopolitical problem."
US trade
The US exported $6.5bn of apparel and textiles to Mexico last year of which $4bn was fabric and $1.2bn apparel parts to be sewed in Mexico. There was $665m worth of textiles and yarn, according to American Apparel and Footwear Federation (AAFA) data. In turn, Mexico shipped $4.2bn of which over $3bn was clothing and about $1bn textiles, Canaive executives say. Before the dollar climbed to its current 17.50 peso value, Mexico was exporting around $6bn annually. Martinez says Mexico's apparel industry is also strengthening after winning new sourcing contracts from global fast-fashion retailers taking its high streets by storm. One such player is C&A, which last October launched a new campaign to locally produce 90% of jeans sold in Mexico.
SOURCE: Just Style
Despite the large number of advantages associated with the Trans-Pacific Partnership (TPP) pact, it poses its own set of problems for the local Vietnamese garment sector, according to a Vietnamese newspaper. Owing to the clauses in the pact, Vietnamese garment manufacturers, who largely import raw materials from non-TPP countries, will be forced to source from local manufacturers. The local raw materials industry is largely underdeveloped, and will require huge investments for producing sufficient, good quality raw materials. Besides, sustainability requirements during production are also difficult for the local producers to match. The Yarn Forward rule requires the TPP member countries to source raw materials for garment production either locally or from other TPP members. However, approximately 60 to 75 per cent of the total raw materials used in garment production in Vietnam are imported from non-TPP countries.
Vietnamese apparel manufacturers will not be able to take the benefit of TPP, if they do not work towards the development of the local supply chain. The local supply chain largely remains underdeveloped. Besides, sustainability issues plaguing the local supply chain also remain a major concern in the international community. Additionally, Vietnam has seen the highest amount of foreign investments in recent years. Non-TPP countries like China, Japan and South Korea are investing in manufacturing in Vietnam in order to benefit from the pact. This may result in majority of the tax benefits being received by non-TPP countries, while the local supply chain continues to remain underdeveloped. The implementation of TPP will take almost two more years, as member countries seek approval from their respect governments. Meanwhile, Vietnam will have to pay attention to all the concerns to take full advantage of the pact.
SOURCE: Fibre2fashion
Two technological conferences themed “German Technology meets Vietnamese Textile” will be held July 5 in Hanoi and July 7 in Ho Chi Minh City. The events are organized by the VDMA Textile Machinery Association and supported by Vietnam Textile & Apparel Association (VITAS), China Textile & Apparel (CTA, Adsale) and Becker Travel Co. Ltd. Vietnam. Industry experts from 22 VDMA member companies will present practice-oriented technology topics covering the following sectors: Spinning, knitting and weaving, nonwovens, dyeing and finishing. Vietnamese textile manufacturers aiming for new products, improved quality of yarns and fabrics and enhanced competitiveness have the chance to learn more about the latest solutions to realize these objectives from well-known textile machinery and accessories manufacturers: Andritz Asselin-Thibeau, Brückner, Erhardt+Leimer, Fong’s Europe, Groz-Beckert, Has Group, Heusch, Mahlo, Mayer & Cie., Karl Mayer, Memminger-Iro, A. Monforts, Oerlikon Barmag, Reiners+Fürst, Reseda Binder, Saurer Accotex, Saurer Texparts, Setex, Textechno, Thies, Trützschler, Welker Spintech and Xetma Vollenweider. Locations of the conferences will be the Sheraton Hanoi Hotel and the Sheraton Saigon Hotel & Towers. The networking during the events will be supported by B2B-matchmaking (pre-arranged or spontaneous bilateral meetings in a separate meeting area including a table-top exhibition) and by a conference dinner in a relaxed atmosphere.
Starting from end of March 2016 interested decision makers from textile manufacturers in Vietnam are welcome to register via www.germantech-vietnamesetextile.de for the company presentations and arrange meetings with the German companies and their agents. During Saigontex, a conference leaflet will be distributed by VDMA’s partners. Whereas these events focus on current decision-makers from the textile industry in Vietnam as well as foreign investors, a seminar on 8 July 2016 at the Department of Textile — Garment Engineering, Faculty of Mechanical Engineering, HCMC — University of Technology focuses on advanced textile and textile technology students and future experts.
SOURCE: The Textile World
The government of northwest China's Xinjiang Uygur Autonomous Region has promised policies including rent-free factories and favourable loan deals to boost the local textile industry and create 11,000 jobs this year, Xinhua has reported. Liang Yong, deputy secretary-general of the regional government said Xinjiang would establish a fund for textile and garment companies to help them increase exports to central and western Asia, Russia and Europe. According to the report, new companies from other provinces will be offered new rent-free factories in industrial parks and Xinjiang's less-developed southern area of Hotan, Aksu, Kashgar and Kizilsu Kirgiz prefectures. They will also be offered transport subsidies. Fixed asset investment into textile and garment factories will reach 45.5 billion yuan (about $6.9 billion) this year, said Liang. Last year, the central and regional government spent 3.28 billion yuan on textile factories. Fixed asset investment reached 31.8 billion yuan, 2.3 times the figure in 2014. More than 97,000 jobs were created. Authorities in Xinjiang, which produces 60 per cent of China's raw cotton, have said they will continue to promote labour-intensive industries to alleviate poverty.
SOURCE: Fibre2fashion
A report released recently under the labour chapter of the US-Peru Trade Promotion Agreement by the US Department of Labour raises significant concerns regarding the right to freedom of association in Peru's non-traditional export sectors, which include exports of textiles, apparel and certain agricultural products. According to a Labour Department press release, the report also raises questions regarding labour law enforcement in Peru. To help guide subsequent engagement between the US and Peruvian governments, the report provides six recommendations aimed at addressing the questions and concerns. It also notes the US government's commitment to assess any progress by Peru within nine months and thereafter as appropriate.
Published within 180 days of initiating a review of the matter, the report represents the streamlined and timely review by the department of labour submissions received under US trade agreements. The report responds to a submission filed with the department's Bureau of International Labour Affairs by the International Labour Rights Forum, Perú Equidad and seven Peruvian workers' organizations. The submission alleges that the Peruvian government failed to enforce its labour laws effectively, and that Peru's law governing employment contracts for non-traditional exports is incompatible with freedom of association.
Based on evidence gathered as part of a review, the report raises significant concerns about whether the current system to protect the right to freedom of association of workers employed on unlimited consecutive short-term contracts in Peru's non-traditional export sectors is sufficient. In addition, the report also questions the effectiveness of the country's labour law enforcement while recognizing the number of positive steps taken by the Peruvian government to improve its labour law enforcement since signing the PTPA in 2007. The report sets out a path for continued engagement with Peru's government aimed at addressing the questions and concerns identified during the review.
SOURCE: Fibre2fashion
Turkey and Pakistan have paved the way for a new free trade deal, which has the potential to reduce barriers in bilateral trade and investment. Turkish Economy Minister Mustafa Elitaş and Pakistani Commerce Minister Khurram Dastgir Khan inked the free trade agreement framework in the Pakistani capital of Islamabad on March 22. The free trade agreement between the two countries was expected to be signed before the end of 2016. Elitaş discussed with Khan a number of ways to further enhance trade and economic cooperation between the two countries.
Negotiations over the deal were launched by Turkish Prime Minister Ahmet Davutoğlu and Pakistani Prime Minister Nawaz Sharif during the latter’s visit to Turkey in October 2015. Last year, bilateral trade was around $600 million, including $289 million in imports from Turkey. Turkey mainly exports telecommunication equipment, televisions, textiles and machinery, while imports from Pakistan include textile yarn, cotton fabrics, plastics and organic chemicals. Elitaş said the two nations can increase bilateral trade to $2 billion, if the governments and private sector “paddle faster.” “Technical teams from the countries will start negotiations on goods and services after signing the framework agreement,” Elitaş said. “The Turkish contractor sector has undertaken 45 projects, mainly energy and infrastructure, worth $2.9 billion to date in Pakistan,” he said.
SOURCE: The Daily News
