"The last date for submitting applications under MEIS (merchandise exports from India scheme), for exports made in the period September 1, 2020 to December 31, 2020 has been extended up to August 31, 2022," the Directorate General of Foreign Trade (DGFT) said in a notification. The last date for exporters to submit online applications to claim their pending dues under export promotion scheme MEIS has been extended till August 31 this year, according to a notification of the commerce ministry. Last September, the government announced release of Rs 56,027 crore against pending tax refunds of exporters under different export incentive schemes. "The last date for submitting applications under MEIS (merchandise exports from India scheme), for exports made in the period September 1, 2020 to December 31, 2020 has been extended up to August 31, 2022," the Directorate General of Foreign Trade (DGFT) said in a notification. DGFT said no MEIS applications would be accepted after the last date. The country's exports during April-May 2022-23 rose about 25 per cent to USD 78.72 billion. Imports during the period increased 45.42 per cent to USD 123.41 billion. The trade deficit during the first two months of this fiscal year widened to USD 44.69 billion from USD 21.82 billion in the year-ago period.
Source: Economic Times
Under the scheme, the aim is to initially focus on 50 districts which have products that are scalable and hold huge export potential The commerce ministry is working to release the new five-year foreign trade policy (FTP) before September this year and Districts as Export Hubs scheme would be part of that document, which aims at promoting exports and job creation, an official said. The directorate general of foreign trade (DGFT), the commerce ministry's arm which is formulating the policy, will soon send the proposal to the finance ministry for seeking funds for the scheme. Under the scheme, the aim is to initially focus on 50 districts which have products that are scalable and hold huge export potential, the official said. The DGFT would follow a "challenge route" method to select these districts, the official said adding states and districts that want to avail the financial incentives under the scheme should compete for that. There are 750 districts in the country. "It will be a kind of competition among states and districts. We will come out with detailed guidelines for that. The scheme will find a place in the FTP. It will be a centrally-sponsored scheme, where 60 per cent of the total cost will be borne by the Centre, and the remaining by states. We are trying to release the new FTP before September," the official added. According to a document of the commerce ministry, states need to be engaged actively in the export promotion activities as exports cannot be exponentially increased without their active involvement. Districts as Export Hubs scheme aims to target export promotion, manufacturing and employment generation at grassroot level. The current foreign trade policy (2015-20) is in force till September 2022. On March 31, 2020, the government had extended this policy for one year till March 31, 2021 due to the COVID-19 outbreak and the lockdown. It was again extended till September this year. In the policy, the government announces support measures for both goods and services exporters. In 2021-22, the country's merchandise exports touched USD 420 billion and services exports aggregated at USD 254.4 billion. The government is looking at USD one trillion exports of goods and services each by 2030. To push the outbound shipments, India is aggressively negotiating free trade agreements with several countries and regions including Canada, the UK, European Union and Israel. India has implemented a trade pact with the UAE in May and has signed one with Australia.
Source: Business Standard
India and the 27-nation bloc resumed negotiations on June 17, after a gap of over eight years, on the proposed agreements on trade, investments and Geographical Indications (GI). The first round of talks, which began on June 27, concluded on July 1, the official added. India and the European Union (EU) on Friday concluded the first round of talks for a comprehensive free trade agreement, a move aimed at further strengthening economic ties between the two sides, an official said. India and the 27-nation bloc resumed negotiations on June 17, after a gap of over eight years, on the proposed agreements on trade, investments and Geographical Indications (GI). The first round of talks, which began on June 27, concluded on July 1, the official added. India had started negotiations for a trade pact with the EU in 2007, but the talks stalled in 2013 as both sides failed to reach an agreement on key issues, including customs duties on automobiles and spirits, and the movement of professionals. India's merchandise exports to EU member countries stood at about USD 65 billion in 2021-22, while imports aggregated to USD 51.4 billion. A GI is primarily an agricultural, natural or a manufactured product (handicrafts and industrial goods) originating from a definite geographical territory. Typically, such a name conveys an assurance of quality and distinctiveness, which is essentially attributable to the place of its origin.
Source: Economic Times
Moreover, such a panel will bolster co-ordination among ministries and departments and improve the quality of negotiations as well, said the source. The government is weighing a proposal to set up an inter-ministerial panel comprising senior officials to iron out differences across various ministries and departments on proposals relating to free trade agreements (FTAs), an official source told FE. The move assumes significance, as the country is either negotiating or planning to start talks for a flurry of high-stake FTAs with key economies, such as the EU, the UK, Canada, Israel, members of Gulf Co-operation Council (GCC) and Australia. While New Delhi has clinched an interim deal with Canberra, talks for a full-fledged FTA could start soon. Together these economies (excluding the UAE, a part of the GCC, with which an FTA is already signed) contributed as much as $108 billion, or 26%, to India’s merchandise exports in FY22. “A final decision on the panel will be taken soon,” said the source. An inter-ministerial committee for FTAs will come in handy, as differences on crucial and sensitive issues within ministries that oversee different sectors tend to delay negotiations. Often stakeholders with conflicting interests across sectors make the job difficult for negotiators, who are required to have clarity of purpose when they get into such highstake talks, more so because these FTAs are going to guide the country’s trade policies for years. For instances, while the dairy sector resisted India’s RCEP entry the most, some other sectors were less hesistant to join the block. Moreover, such a panel will bolster co-ordination among ministries and departments and improve the quality of negotiations as well, said the source. The country is also seeking a review of its existing FTAs with key partners, including Asean group, Japan and South Korea, to restore greater degree of trade balance. Following its exit from the Beijing-dominated RCEP in November 2019, New Delhi has stepped up efforts to forge “fair and balanced” trade pacts with key countries. In February, India signed an FTA with the UAE, the first such pact by New Delhi with any economy in over a decade. Then followed an interim trade deal with Australia in April; both the sides are expected to soon resume negotiations for a broader FTA. Last week, India and the EU resumed negotiations for an FTA after a gap of about nine years and are planning to launch the next round of talks in September. Similarly, New Delhi and London have concluded four rounds of negotiations and are aiming to clinch a deal by Diwali in October. Similarly, India and Canada are eyeing an interim deal by the end of 2022. After the deal with the UAE, the other GCC members have evinced interest in hammering out an FTA with India. The country is also planning to launch talks with Israel. The GCC comprises Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE. India remained cautious for about a decade before signing the FTA with the UAE in February, as five of its six prominent FTAs that came into force between 2006 and 2011, had exacerbated New Delhi’s trade balance, according to an FE analysis. These are India’s trade deals with Asean group, South Korea, Japan, Singapore and Malaysia. Only the South Asia Free Trade Area agreement, which replaced a 1993 preferential trade pact, turned out to be a clear winner for India.
Source: Financial Express
Amid slowing demand and elevated inflation, the mood among Indian manufacturers remains grim. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers’ Index (PMI) fell to 53.9 in June from 54.6 in May. The headline index remains in the expansion zone, but the latest figure is the lowest since Sept last year. Amid slowing demand and elevated inflation, the mood among Indian manufacturers remains grim. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers’ Index (PMI) fell to 53.9 in June from 54.6 in May. A reading above 50 indicates expansion and one below the threshold points to a contraction. The headline index remains in the expansion zone, but the latest figure is the lowest since September last year. Some moderation was seen in cost inflation, with the crucial input price index falling to a three-month low. However, one should not cheer this softening yet, given that the index remains above its long-term average. “Monitored firms reported increases for a wide range of inputs, including chemicals, electronics, energy, metals, and textiles, which they partly passed on to clients in the form of higher selling prices," said the survey report. Adam Hoyes, an assistant economist at Capital Economics Ltd, explained that easing in price pressures was probably in part because of lower commodity prices. “However, slower growth in demand and the first decline in suppliers’ delivery times since February 2021 are likely to have played a role too," he said in a report. Hoyes believes that as inflation continues to weigh on manufacturers’ confidence, the Indian economy is by no means out of the woods on the inflationary front. Business optimism measured via the future output index slid to a 27-month low of 50.9 in June. As the chart alongside shows, India’s reading for this metric is lower than that of global and Asian regions. Unfortunately, economists do not see a respite from cost inflation for Indian manufacturers in the near term. “At the moment, it is a bit too early to conclusively say that things are getting better on the inflation front for Indian manufacturers. The tax changes that were announced on Friday will have some inflationary impact," said Rahul Bajoria, managing director and chief India economist at Barclays. The government has imposed special additional excise duty on the export of petrol and diesel and also raised the import duty on gold. The prices of some food commodities such as palm oil and soyabean have decreased, Bajoria said. However, the pass-through into inflation will take some time. “So though we are not seeing an incremental inflationary pressure, it would take time for inflation to reduce meaningfully," he said. Meanwhile, economists expect the Reserve Bank of India to keep raising interest rates at its upcoming policy meetings to tame inflation.
Source: Live Mint
Factory orders, production rise for 12th month in a row India’s manufacturing sector activity eased to a nine-month low in June as growth of total sales and production moderated amid intense price pressures, a monthly survey said on Friday. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers’ Index (PMI) fell to 53.9 in June from 54.6 in May, the weakest pace of growth since last September. The June PMI data pointed to an improvement in overall operating conditions for the twelfth straight month. In PMI parlance, a print above 50 means expansion while a score below 50 denotes contraction. “The Indian manufacturing industry ended the first quarter of fiscal year 2022/23 on a solid footing, displaying encouraging resilience on the face of acute price pressures, rising interest rates, rupee depreciation and a challenging geopolitical landscape,” said Pollyanna De Lima, Economics Associate Director at S&P Global Market Intelligence. Factory orders and production rose for the twelfth straight month in June, but in both cases the rates of expansion eased to nine- month lows. Increases were commonly attributed to stronger client demand, although some survey participants indicated that growth was restricted by acute inflationary pressures, the survey said. According to the survey, monitored firms reported increase for a wide range of inputs — including chemicals, electronics, energy, metals and textiles — which they partly passed on to clients in the form of higher selling prices. Lima further said there was a broad-based slowdown in growth across a number of measures such as factory orders, production, exports, input buying and employment as clients and businesses restricted spending amid elevated inflation. According to the survey, inflation concerns continued to dampen business confidence, with sentiment slipping to a 27-month low. Elsewhere, input delivery times shortened for the first time since the onset of Covid-19. “Fewer than 4 per cent of panellists forecast output growth in the year ahead, while the vast majority (95 per cent) expect no change from present levels. Inflation was the main concern among goods producers,” the survey said. On the job front, employment rose for the fourth successive month, albeit at a slight pace that was broadly in line with those seen over this period. Meanwhile, the Reserve Bank of India (RBI) in its financial stability report released on Thursday said persistently high inflation globally is to stay longer than anticipated as the ongoing war and sanctions take a toll on economies, threatening a further slowdown to global trade volumes. The global economic outlook is clouded by the ongoing war in Europe and the pace of monetary policy tightening by central banks in response to mounting inflationary pressures, the RBI report said.
Source: Business Standard
The NAPS was launched on August 19, 2016, to promote apprenticeship training in the country and to provide financial support to establishments undertaking apprenticeship. The ministry of skill development and entrepreneurship (MSDE) has made the National Apprenticeship Promotion Scheme (NAPS) as part of the direct beneficiary transfer (DBT) scheme, providing direct government benefits to all apprentices. This would prevent delay in payments as well as significantly reduce any leakages in the system. Earlier companies used to pay apprentices the entire amount and then seek reimbursement from the government. “With the launch of the DBT scheme, the government will directly transfer its contribution to bank accounts of apprentices through National Skill Development Corporation (NSDC),” MSDE said in a statement on Saturday. Under NAPS, the government pays 25% of the stipend payable up to Rs 1500 per month per candidate. “Apprenticeship is getting a big boost under Skill India. Crediting stipend into the accounts of the candidates through DBT will not only be a boost to apprenticeship but also takes us closer to realising the potential of Skill India,” skill development minister Dharmendra Pradhan said. National Apprenticeship Promotion Scheme (NAPS) was launched on August 19, 2016 to promote apprenticeship training in the country and to provide financial support to establishments undertaking apprenticeship. The program aims to motivate employers to hire apprentices and aid them in discovering the right job roles while maximising their potential through in-depth skill development. As of today, more than 12 lakh apprentices have been engaged with various industries. The government is of the view that turning apprenticeship into a participatory movement is important to skill, reskill and upskill young India, increase per capita economic production and support national missions. It not only exposes candidates to real-time industrial environments but allows them the opportunity to contribute to the economy even during training but also gives a boost to the Skill India Mission by creating sustainable skill development strategies in association with the government, businesses, and educational systems.
Source: Economic Times
An unsaid belief in this industry, mentions Soharia, is that women cannot be good tailors. The fashion industry is massively responsible for greenhouse gas emissions, depletion of non-renewable sources, etc., and is trying every trick in the book to reduce its carbon footprint. It was on witnessing this “dark side of fashion” that Swati Soharia (33) from East of Kailash, decided it was time to take a stand. The 2011 graduate in knitwear design from National Institute of Fashion Technology, Delhi shares, “In 2016, I took a pledge that I won’t shop for a year. That was the genesis of Katran.” Talking about her initiative, Katran—an upcycling studio with a five-member team—she says, “After 2016, since I took the pledge, I started upcycling my own clothes and also did this for family members. That garnered a lot of attention. That is when I started getting orders; people would come with their bag of old clothes and I would upcycle it for them. I hired my first set of tailors.” While it started as a “customer A to customer A business model”, Soharia later scaled it up to work with pre-consumer waste from export houses, local tailors, design colleges, etc., to make accessories, home décor objects, bags, saris, and stoles. “There is so much textile waste that even fashion designers reach out to us.” Making a difference Talk to Soharia and the one thing she stresses on is “frugal design”. We ask her to elaborate on what that would constitute and she replies, “Frugal design is basically ‘jugaad’ [translates to being resourceful]. The idea is to find solutions instead of finding problems.” Mentioning the fabrics and textiles they work with, Soharia mentions, “Upcyclers cannot be choosers; we have to work with the waste that we receive. If polyester fabric and other such fabrics [that are not biodegradable] come to us, we use it as it should so it does not have to go to the landfill. If we will not use it, then who will? ” Building communities that thrive An unsaid belief in this industry, mentions Soharia, is that women cannot be good tailors. “This was a challenge I took upon myself; I wanted to break that bubble,” she adds. One of the main objectives of Katran, therefore, is to provide employment to women from economically vulnerable and marginalised communities. Through her network, she was able to reach out to clusters across the country, “We have an ongoing project in two clusters [10 women each] in Kashmir where we are doing Crewel work on fabric with Sozni and Tilla; there are about four to five clusters in Maharashtra, here we make accessories using Paithani sari waste and other crafts from the region; one in Hosur, Tamil Nadu; and of course, in and around Delhi.” The team recently completed a project with the Short Stay Home—a temporary shelter for the needy women and girls in distress—of the Tihar Jail happening at the Nirmal Chhaya Complex, which is a statutory protective and corrective institution. Stressing on the fact that Katran works on collaboration, she concludes, “The responsibility is shared because nobody can reinvent the wheel; my business relies a lot on collaboration. We partner with a lot of NGOs, corporate partners, people who are promoting the work, and this is how Katran survives.”
Source: New Indian Express
New Zealand and the European Union (EU) have concluded negotiations on a major free trade agreement (FTA), which unlocks access to one of the world’s biggest and most lucrative markets, New Zealand’s Prime Minister Jacinda Ardern and trade and export growth minister Damien O’Connor have announced. The deal provides duty-free access on 97 per cent of the New Zealand’s existing goods trade to the EU within seven years, 91 per cent from day one. PM Ardern said: “Our EU-NZ FTA is expected to increase the value of New Zealand’s exports to the EU by up to $1.8 billion per year from 2035. For comparison that’s more lucrative than the benefits derived from our recent UK FTA. It’s a strategically important and economically beneficial deal that comes at a crucial time in our export led COVID-19 recovery. “It cuts costs and red tape for exporters and opens up new high value market opportunities and increases our economic resilience through diversifying the markets that we can more freely export into. The complete removal of duties on the majority of products New Zealand exports to the EU is a major achievement in a deal that covers market access into 27 European countries.” This is New Zealand’s fifth Free Trade Agreement in the past five years. Damien O’Connor, who has spent the week in Brussels negotiating with his counterparts said the deal provided access for products that were previously locked out in the historically difficult to access European market. “With total savings on tariffs worth $110 million annually, $100 million up front, the deal will make our exports immediately more competitive in the EU market and provides a platform for growth.” O’Connor added: “This FTA also helps to level the playing field and creates significant opportunity for more great Kiwi businesses to diversify into this high-value market. Importantly, the services and investment ‘Most Favoured Nation’ outcome will ensure the FTA remains at the cutting edge, with New Zealand able to receive the benefit of services market access and investment treatment the EU may agree to in future FTAs. “It also delivers a positive outcome for New Zealand businesses seeking access to EU’s large government procurement market for goods and services worth more than $3 trillion. Consistent with our approach to trade negotiations, the agreement contains legally enforceable commitments on climate action, environment and labour standards and gender equality.” The EU is New Zealand’s fourth-largest trading partner with two-way goods and services trade was worth NZ$17.5 billion in for the year to December 2021.
Source: Fibre 2 Fashion
Fear if incentive is withdrawn, they may not meet existing export orders Textile exporters on Thursday called on Prime Minister Shehbaz Sharif to take effective measures for sustainable growth of the industry, continue providing regionally competitive energy tariffs, fix concessionary rates of other utilities and manage exchange rates of the US dollar and euro to bring down the cost of raw material imports. The value-added textile export industry contributed 61% to the total national exports of approximately $28.87 billion in 11 months of fiscal year 2021-22, with textile export share standing at $17.62 billion, Pakistan Apparel Forum Chairman Muhammad Jawed Bilwani said. “The value-added textile sector is the backbone of the economy, earning the highest amount of foreign exchange and generating the highest urban employment opportunities as it is one of the most labour-intensive industries,” he said. “Currently, export is the need of the hour to fetch foreign exchange,” textile sector analyst Arsalan Hanif told The Express Tribune. The government needed to focus on increasing exports by providing relief and incentives to the industries to make them regionally competitive, he stressed, adding that in the current environment, maintaining textile exports was a challenge due to the global slump in demand. “Current economic situation demands immediate support for the growth of economy and exports,” Bilwani said. In contradiction to the government’s Textile and Apparel Policy 2020-25, the economic team did not consider the continuation of regionally competitive energy tariffs despite repeated requests and appeals by the value-added textile export industry in the prebudget and postbudget proposals for FY23, he pointed out. “It is imperative to ensure a level playing field for Pakistan’s textile exporters so that they could compete regionally and globally by reducing the cost of manufacturing in line with the competing countries.” The continuation of competitive energy tariffs “is crucial for the sustainability and enhancement of exports”. Furthermore, the utility tariff (water charges) as well as exchange rates of the US dollar and euro should be fixed for exporters so that they could import goods at a reasonable cost to run their export-oriented industries, Bilwani emphasised. He claimed that the uncertainty surrounding the businesses had restrained the exporters from negotiating new export orders as they could not meet the high manufacturing cost. Taurus Securities Head of Research Mustafa Mustansir told The Express Tribune that the government had limited fiscal space for doing anything substantial. “At best, it can continue the regionally competitive energy tariffs.” “Other subsidies demanded by the textile sector seem very hard for the government to accept,” he said. The value-added textile sector fears that if the competitive energy tariffs are withdrawn after June 30 and the manufacturing cost including utility tariffs and exchange rates is not fixed for the exporters, the existing export orders may be difficult to meet and future orders will not materialise. Topline Securities’ textile sector analyst Saad Ziker said the government should set energy tariffs and prices of other utilities at its earliest as companies were reluctant to finalise export orders due to the uncertainty about tariff rates. “As the textile sector contributes the largest share to the overall exports, the exporters will not be able to meet orders due to this uncertain situation,” he said. Meanwhile, expressing fear that the entire exportoriented textile supply chain may come to a halt, the Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) issued a distress call over the acute financial crisis faced by the industry. PRGMEA North Zone Chairman Sheikh Luqman Amin stated that the whole industry may break down amid delay in release of sales tax refunds, rising markup rate, soaring fuel and energy costs and worst power shutdown in the country.
Source: Tribune
A United States' business delegation has shown interest in investing different sectors in Pakistan including renewable energy, textile, and agriculture, a statement said on Friday. The delegation headed by Dilawar Syed, State Department’s special representative for Commercial and Business Affairs held a meeting with Finance Minister Miftah Ismail at Finance Division, where representatives of International Development Finance Corporation (DFC) and US Embassy were also present. It was shared that the DFC is planning to revise the power purchase agreements (PPAs) of its sponsored wind power projects depending upon the support and cooperation of government of Pakistan. The finance minister welcomed the delegation and apprised them about economic challenges being faced by the government. The chair also apprised delegation about reforms in policies that have been undertaken by the present government to tackle these challenges. “We're getting a glimpse of the future possibilities for an evolving US-Pakistan relationship post-Afghanistan withdrawal. State's top official on commercial affairs is now in Islamabad w/reps from DFC. This comes soon after new US amb announced a new bilateral health dialogue,” said Michael Kugelman, deputy director Asia Program. “Notable that DFC representatives are in Islamabad. In an Asia context, DFC is often associated w/the US Indo Pacific strategy, which Pakistan doesn't appear to be a part of. DFC itself describes Indo Pacific as "a vast region that stretches from India to Southeast Asia & the South Pacific," he added. During the meeting, Ismail shared that the reforms aimed at enhancing the GDP growth, attracting the Foreign Direct Investment (FDI) and augmenting exports of the country. The finance minister also shared that present government was committed to provide conducive environment for foreign investment and was also promoting foreign companies, especially involved in automobile and mobile assimilation for promotion of exports. The US delegation showed their interest in investments in various sectors including wind, renewable energy, textile and agricultural sector. Ismail, on a concluding note, shared that the government was striving for bringing in growth in energy, export and foreign investment and every required step in this regard would be undertaken, he vowed. Gaia Self, regional policy lead for Europe and Central Asia, DFC, Dan Froats, economic counselor, US Embassy, secretary Finance and senior officers from Finance Division and US Embassy attended the meeting
Source: The News
China's textile-apparel exports maintained growth momentum in the first five months of the year, according to data from the Ministry of Industry and Information Technology. Such exports rose by 11.2 per cent year on year to $125.1 billion in the period, the data showed. Textile exports reached $62.9 billion, surging by 12.1 per cent from a year ago. Apparel exports were worth $62.2 billion, up by 10.2 per cent year on year, an official news agency reported. During this period, the added value of textile firms with annual operating revenue of at least 20 million yuan (about $2.99 million) climbed by 1.5 per cent year on year, while the operating revenue of the aforementioned firms increased by 7.1 per cent from the same period a year ago.
Source: Fibre 2 Fashion
The UAE Circular Economy Council convened its second meeting of 2022, presided over by Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment. The meeting drew the participation of high-level representatives of various government and private sector entities from across the UAE. These included Abdullah bin Touq Al Marri, Minister of Economy; Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade; Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Teleworking Applications; Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, CEO of Alliances for Global Sustainability; Omar Suwaina Al Suwaidi, UnderSecretary of the Ministry of Industry and Advanced Technology; Razan Khalifa Al Mubarak, Managing Director of the Environment Agency – Abu Dhabi. The participants also included Dawood Al Hajri, Director-General of Dubai Municipality; Abdulrahman Al Nuaimi, Director-General of the Municipality and Planning Department in Ajman; Essa Al Hashmi, Assistant Under-Secretary for the Sustainable Communities Sector at the Ministry of Climate Change and Environment; Yousif Al Ali, Assistant Under-Secretary for Electricity, Water and Future Energy at the Ministry of Energy and Infrastructure; Khaled Al Huraimel, CEO of Bee’ah; Laila Mostafa Abdullatif, DirectorGeneral of Emirates Nature-WWF; and Ibrahim Al-Zu’bi, Chief Sustainability Officer at Majid Al Futtaim Holding. The Council approved 22 policies proposed by its subsidiary, the Circular Economy Policies Committee, that focus on accelerating the implementation of the circular economy model in the UAE in four main sectors – manufacturing, food, infrastructure, and transport. The Council also identified at least 16 circular economy activities that open a wealth of opportunities for businesses, such as upcycling textile waste into new products, developing automated AI-enabled waste management solutions, and remanufacturing electronic waste. "With the cabinet’s approval of the UAE Circular Economy Policy in January 2021, we have embarked on an ambitious and important mission to transition from a linear model to a circular economy approach. Our current linear economy consumes valuable materials and resources without being able to benefit from them after use, which represents waste in the modern concept of sustainability. Our approach seeks to protect our environment and to ensure the long-term economic and social prosperity of our country," Almheiri said. "Many key stakeholders in the UAE have already started to embrace circular economy principles. We at the Ministry of Climate Change and Environment and at the Ministry of Economy have been engaging with them and others to gain valuable information and insights about ways of facilitating the transition to a circular economy," she added. The Minister noted that 45 percent of global greenhouse gas (GHG) emissions result from producing cars, clothes, food, and other products used every day. This demonstrates the great potential that lays in circular economy, which can complement the emission reduction and mitigate the current climate crisis. For his part, Minister Abdullah Al Marri, who also heads the Council’s Circular Economy Policies Committee, noted that the Committee recently held intensive workshops and meetings with the government and private sectors as well as international partners. The workshops were designed to support the implementation of the UAE Circular Economy Policy in four key sectors – manufacturing, green infrastructure, transportation, and food production and consumption – as well as the 22 new policies issued to drive the UAE’s overall transition to a circular economy. "These policies will contribute to addressing all challenges the private sector is facing in its shift to a circular economy and support the country’s green development drive. The initiatives align with the directives of our wise leadership to fast-track the country’s transition to a circular economy as one of the sustainability, flexibility, and growth drivers of the new economic model as per the Principles of the 50. "The Committee continues its efforts to implement the UAE Circular Economy Policy 2021-2031 through programmes and projects that are set to attract investments to this field and expand its infrastructure. Efforts are also being exerted to establish a circular economy database, in addition to offering incentives to encourage the private sector to shift towards clean production methods, thereby enhancing the UAE’s competitiveness as one of the leading circular economies regionally and globally," he stated. After a brief on the progress of current circular economy projects in the UAE and startups’ insights, Anis Nassar from the World Economic Forum (WEF) updated Council members on the Scale360 initiative. The initiative brings together global partners to scale up the use of Fourth Industrial Revolution (4IR) technologies with the aim of fast-tracking the adoption of the circular economy principles. The meeting agenda also featured an overview of Bee’ah’s efforts to implement a circular economy model in its operations as well as a presentation on the Abu Dhabi Emirate Single Use Plastic Policy that came into force on 1st June 2022. Approved in January 2021, the UAE Circular Economy Policy identifies the optimal approach to the country’s transition to a circular economy. Its objectives include building a sustainable economy, promoting efficient use of natural resources, encouraging the private sector to shift to cleaner industrial production methods that involve the use of artificial intelligence (AI) and other 4IR technologies, and adopting sustainable consumption and production patterns that reduce environmental stress while meeting the basic needs of the population. The UAE Circular Economy Council comprises 17 representatives of relevant federal and local government entities, private sector businesses, and international organisations.
Source: WAM
Regional trade in Bangladesh and Nepal is set to receive a shot in the arm after the World Bank approved the financing of key projects and programmes totalling up to $1.03 billion. The World Bank aims to boost regional trade in these countries by cutting down on trade and transport costs as well as transit times along the regional corridors. Bhutan will also be included in the programme’s second phase. The Accelerating Transport and Trade Connectivity in Eastern South Asia (ACCESS) Program Phase 1 will enable governments to deal with the biggest obstacles to regional trade like manual and paper-based trade processes, inadequate transport and trade infrastructure, and restrictive trade and transport regulations and processes, World Bank said in a press release The $753.45 million ACCESS Project in Bangladesh will modernise the 43km two-lane Sylhet-Charkai-Sheola road to a climate-resilient four-lane road, which will connect the Sheola Land Port with the Dhaka-Sylhet Highway and reduce travel time by 30 per cent. The project will reinforce digital systems, infrastructure, and more streamlined processes at the Benapole, Bhomra, and Burimari land ports, which handle around 80 per cent of land-based trade. It will also help in revamping the Chattogram customs house, which oversees 90 per cent of all import/export declarations in Bangladesh. The $275 million ACCESS Project in Nepal will renovate the 69 km two-lane Butwal— Gorusinghe—Chanauta road along the East-West Highway to a four-lane highway, which will be climate-resilient. As this is expected to reduce travel time by 30 per cent, it will offer better access to India’s western seaports. The project also involves building market areas along the highway with special spaces for women entrepreneurs and traders, so that women can take advantage of the improved economic opportunities. It will upgrade capacity building and digital systems to bolster trade and customs processes at Birgunj and Bhairahawa border points. The programme is also intended to further Nepal’s preparedness and subsequent implementation of the Motor Vehicle Agreement (MVA). Regional trade offers enormous untapped potential for the countries of South Asia. Today, regional trade accounts for only 5 per cent of South Asia’s total trade, while in East Asia it accounts for 50 per cent,” said Hartwig Schafer, World Bank vice president for South Asia. “South Asia can boost economic growth significantly and create opportunities for millions of people by increasing regional trade and connectivity.”
Source: Fibre 2 Fashion
Global textile manufacturer Carrington Textiles reported a great interest for the company’s sustainable and stretch ranges during their presence at the trade fair in Frankfurt last week, showing the industry trend for products that are kinder to the environment yet comfortable to wear. Adlington, United Kingdom: Carrington Textiles, a global manufacturer of textiles for workwear, announced a successful presence at Techtextil 2022, reporting a high number of enquiries received on sustainable products of their Balance Range as well as on high stretch fabrics. Some of the most popular products for the manufacturer during the event, were Delamere (195gsm, 210gsm, 245gsm), Hawksbill, Kielder and Rivington (205gsm, 220gsm) which include environmentally friendly technology in their composition, as well as Balaton and Constance featuring high stretch performance. Following Carrington Textiles’ campaign to promote their presence at the event by providing free passes to visitors, the textile manufacturer also reported welcoming new and existing customers from all over the world, as well as suppliers and partners. During a live video tour of their stand broadcast on Linkedin and YouTube, Carrington Textiles Managing Director, Neil Davey, says: “It’s fantastic to be back at Techtextil (…) engaging with customers and talking to suppliers. The big momentum we have is around sustainable products, which continue getting a good amount of traction with our customers. We’ve got a much bigger product range now (Balance Range), and we are continuing to push that. This is a really important area for us all collectively, so we are looking forward to continuing those conversations.” Carrington Textiles’ 100 square metre stand at Techtextil received outstanding feedback from visitors. Its smart design boasted natural materials and stylish lighting aiming to provide a pleasant visitor experience and to represent the textile manufacturer’s sustainability focus.
Source: What they think
