INTERNATIONAL
Textile Raw Material Price 2016-09-20
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1013.39 |
USD/Ton |
-0.29% |
9/20/2016 |
|
VSF |
2515.49 |
USD/Ton |
0.00% |
9/20/2016 |
|
ASF |
1888.87 |
USD/Ton |
0.00% |
9/20/2016 |
|
Polyester POY |
1023.14 |
USD/Ton |
-6.12% |
9/20/2016 |
|
Nylon FDY |
2421.05 |
USD/Ton |
0.00% |
9/20/2016 |
|
40D Spandex |
4422.35 |
USD/Ton |
0.00% |
9/20/2016 |
|
Nylon DTY |
2623.43 |
USD/Ton |
0.57% |
9/20/2016 |
|
Viscose Long Filament |
5614.13 |
USD/Ton |
0.00% |
9/20/2016 |
|
Polyester DTY |
1289.23 |
USD/Ton |
0.00% |
9/20/2016 |
|
Nylon POY |
2233.66 |
USD/Ton |
0.00% |
9/20/2016 |
|
Acrylic Top 3D |
2061.26 |
USD/Ton |
0.00% |
9/20/2016 |
|
Polyester FDY |
1236.76 |
USD/Ton |
-1.20% |
9/20/2016 |
|
10S OE Cotton Yarn |
2008.04 |
USD/Ton |
0.00% |
9/20/2016 |
|
32S Cotton Carded Yarn |
3223.81 |
USD/Ton |
0.00% |
9/20/2016 |
|
40S Cotton Combed Yarn |
3747.75 |
USD/Ton |
0.00% |
9/20/2016 |
|
30S Spun Rayon Yarn |
3103.14 |
USD/Ton |
0.00% |
9/20/2016 |
|
32S Polyester Yarn |
1693.98 |
USD/Ton |
-0.88% |
9/20/2016 |
|
45S T/C Yarn |
2608.43 |
USD/Ton |
0.00% |
9/20/2016 |
|
45S Polyester Yarn |
1843.89 |
USD/Ton |
-0.81% |
9/20/2016 |
|
T/C Yarn 65/35 32S |
2548.47 |
USD/Ton |
0.00% |
9/20/2016 |
|
40S Rayon Yarn |
3238.06 |
USD/Ton |
0.00% |
9/20/2016 |
|
T/R Yarn 65/35 32S |
2368.58 |
USD/Ton |
0.00% |
9/20/2016 |
|
10S Denim Fabric |
1.37 |
USD/Meter |
0.00% |
9/20/2016 |
|
32S Twill Fabric |
0.84 |
USD/Meter |
0.00% |
9/20/2016 |
|
40S Combed Poplin |
1.19 |
USD/Meter |
0.00% |
9/20/2016 |
|
30S Rayon Fabric |
0.70 |
USD/Meter |
0.00% |
9/20/2016 |
|
45S T/C Fabric |
0.67 |
USD/Meter |
0.00% |
9/20/2016 |
Source: Global Textiles
Note: The above prices are Chinese Price (1
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
The Bharatiya Janata Party (BJP)-led government in Jharkhand on Tuesday released policies for six sectors — information technology (IT) & IT-enabled services (ITeS); business process outsourcing (BPO); electronic system design & manufacturing (ESDM); start-up; automobile & auto component; and textile. During a road show here on Tuesday, the state government signed agreements worth Rs 5,000 crore in the areas of textile, health, IT, and skill development. These investments are expected to create 20,000 jobs in three years. Jharkhand chief minister Raghubar Das said the government signed 40 memoranda of agreement (MoUs) on Monday. “Today, the government signed MoU with Siemens which will invest Rs 1,200 crore in the next 18 months for the establishment of three centres of excellence, while Tech Mahindra has evinced interest for the same in the IT sector. In addition, the government has already signed MoUs with Cisco, Oracle and PTC from the US for skill development for the physically handicapped. The government proposes to train two million people under its ambitious skill development project in the next five years,” he noted. The Jharkhand CM said his government’s policies are investor-friendly with a focus on single-window clearance. “Today, after the release of textile policy, the state received investment of Rs 1,500 crore to create 15,000 jobs.
The policy proposes capital investment subsidy of 20 per cent up to Rs 50 crore, value-added tax subsidy of 100 per cent for seven years followed by 40 per cent for the next three years, and 100 per cent reimbursement of stamp duty. Six training centres will be set up so that the locals will get jobs in the textile sector.” He added the MoUs were signed for setting up of a 500-bed hospital, and medical and nursing colleges with an investment of Rs 1,000 crore. He explained that the IT&ITeS, BPO and ESDM policies provide 100 per cent reimbursement of stamp duty, registration fee and transfer duty. The BPO policy offers special consideration for units employing 500 or more and relaxation in late shifts for women.
He added that three ESDM hubs will be created at Ranchi, Jamshedpur and Dhanbad, he added.
Das said that out of the proposed investment of Rs 65,000 crore, the state has received Rs 23,000 crore in steel, cement and food processing sectors during the past 20 months. Besides, investments to the tune of Rs 15,000 crore will be finalised within a month in the power sector, he added. According to him, the government does not face any land acquisition issue because it already has a land bank of 134,000 hectares. “Land belonging to various government departments and corporations have been pooled into one corporation, which allots land to the investor,” he said.
SOURCE: The Business Standard
India’s merchandise exports shrank 0.3% in August, compared to a year ago. Exports have fallen in 20 of the last 21months. The balance of trade looks healthy because imports fell 14%, the 21st consecutive month of this trend. Neither is healthy. Exports are dented by global recession, and by low productivity, thanks to poor policymaking. Falling imports, especially of non-oil, non-valuables that include capital goods, which shrank 3% year on year, shows the lack of appetite to invest. Today, exporters are rooting, with some camouflaged support within the government, for a devaluation of the rupee, which has appreciated 2.5% in six months. This is a bad idea that has to be dropped.
The rupee is poised to slide against the dollar in any case. Later this month, around $20 billion will flow out of India as redemptions for foreign currency non-resident bonds. This will put pressure on the rupee, whose exchange rate is set by the market, the RBI only dampening volatility. Much of our exports have imported components, so devaluation will actually import inflation, making exports uncompetitive. By December, the US Fed might start hiking interest rates, triggering a dollar outflow, weakening the rupee. Focus, instead, on the policy mess that hobbles exports.
Avariety of domestic producers — Ficci recently produced a detailed list — are hamstrung by steep duties on imported raw materials while duties are lower on finished imports. A minimum import price, between $341 and $750 per tonne of imported steel, protects profits of local steel manufacturers, but cripples industries that use the metal. The government may extend such protection to aluminium as well. It should not. Scrap the inverted duty structure. In fact, to extend the same rate of effective protection to all sectors, have the same low rate of import duty for all products, as Chile does. Build better infrastructure like roads and ports; minimise paperwork that slows down trade and open non-critical sectors to 100% overseas investment. Regulate quality in sectors like pharma. That is the way to compete globally.
SOURCE: The Economic Times
Keen to improve its performance in the World Bank’s index measuring ‘ease of doing business’, India has reached out to countries such as Singapore, Canada, Australia, Saudi Arabia and Mexico to gain from the expertise in their respective areas of excellence. Top officials, experts and policy makers from countries that ace the World Bank’s indicators used for ranking countries — such as access to credit, issuing construction permits, access to electricity and property registration — will be in New Delhi this month to give lessons to both the Centre and States on the measures to be taken to improve their performance. “Although India has shown improvement in its ranking on the World Bank’s ease of doing business index, it is far from the best. We are getting the best of the best in various categories to show us what all India needs to do to reach their levels of efficiency,” an official from the Department of Industrial Policy & Promotion (DIPP) told BusinessLine. For instance, Mexico, which has a federal system like India, will give tips on how to carry out business regulation reforms in a federal country. Senior officials from the land regulation department of the UK will share ways in which India can bring about reforms in land regulation, the official said.
Representatives from both Australia and Mexico will give presentations and suggestions on how to improve handing out construction permits while Saudi Arabia will share tips on ease of getting credit. Canadian experts on start-ups will share their experience in reforming business start-ups and providing unique business identities to entities. “The countries that we have invited to come to India and share their expertise are the best in their respective areas. Not only will they share their experience, they will also give concrete recommendations based on the conditions in our country,” the official said, adding that experts from the World Bank will also chip in. Officials from both States and the Centre will attend the three-day meeting. States have so far only interacted with the Centre to bring about changes in their rules and regulations in order to make them more business friendly and this will be the first time that many of them would be interacting with international experts on the matter. Last year, India’s ranking on the index measuring ease of doing business improved four notches to 130 (compared to the previous year’s revised ranking of 134) in a total of 189 countries. China ranked 84th in the index.
World Bank ranks countries based on about 10 broad parameters which include starting a business, getting construction permits, accessing electricity, payment of taxes, enforcement of contracts and getting credit. Recently, India has taken a number of measures to improve ease of doing business such as enacting the insolvency and bankruptcy code, launching an e-biz portal for one-stop shop for clearances for starting a business and bringing down the documents required to start a business.
SOURCE: The Hindu Business Line
Trade between India and Pakistan may not be affected substantially as a result of the political tension between the two countries following the Uri attack, unless New Delhi decides to impose a complete ban. However, such a situation has not arisen in the recent past, not even after the attack on the Indian Parliament in December 2001, when only partial sanctions were imposed and trade was banned through the air and land routes, while it continued through the sea-route, a Commerce Ministry official told BusinessLine. “The decision on whether to leave bilateral trade untouched or impose a partial or complete ban lies with the Prime Minister’s Office and the Ministry of External Affairs. But, experience shows that a complete ban would be an extreme decision,” the official said. The recent violence in Uri and the killing of Indian soldiers, however, will prove to be a further dampener for the bilateral trade liberalisation process, which started in January 2011, but has been in limbo since early 2013 following violence at the Line of Control in Kashmir.
Pakistan had brought down the number of banned Indian goods to 1,209 items from about 6,000 while India has reduced duties sharply on a number of Pakistani products. Trade experts say that putting a complete ban on trade would not be a judicious decision as the balance of trade is heavily in India’s favour. “Any ban on trade will adversely affect the Indian industry more than the Pakistan as the country exports much more than it imports,” pointed out Nisha Taneja from ICRIER.
India’s exports to Pakistan were valued at $2.17 billion in 2015-16 while its imports from the country were a little less than $500 million. According to Taneja, political tension had not resulted in a dip in bilateral trade either after the Parliament attack in December 2001 or after the Mumbai terrorist attack in 2008. “In fact, trade between India and Pakistan steadily increased (after a slight dip in 2002) in the entire period the partial sanctions continued. After the Mumbai attacks, too, trade expanded as Pakistan increased the number of items on its positive list,” Taneja said.
SOURCE: The Hindu Business Line
The competitive pressure on China's manufacturing sector from India is perhaps much bigger than China imagined - that's a Chinese government run media outlet's exact comment. State-run media in China usually reflects what the Chinese leadership is thinking, so it appears China's really feeling the pinch. In an article titled 'China should reduce production costs for manufacturers as competition with India grows', Global Times today wrote that China's low-end manufacturing sector is facing hard times as some multinationals move production from there to other Asian countries, India included. "The increasing competition from India raises a tough question for China's manufacturing sector of how to keep its competitive edge at a time when the nation's labor cost advantage is shrinking rapidly. Now it is time for China to map out concrete measures to reduce production costs for manufacturers," Global Times' article said.
One way it has suggested this could be done is by reforming the country's "overheated real estate market". Apparently, big plans to build new manufacturing plants in China's coastal cities have proven costly because of high real estate prices. "In this regard, the Chinese economy has to reduce its reliance on real estate and strive to create a favorable investment environment for manufacturers. Additionally, as some foreign-backed companies show an increasing interest in India over China, the country should promote the development of its local manufacturers and encourage them to build plants in less-developed central and western regions where labor costs are relatively lower," the article advocated.
Still, Global Times doesn't believe it's all doom and gloom for China's manufacturing. "Despite India being more attractive to manufacturers than ever, it will be difficult for the country to build a complete industrial chain overnight. India may still need to expand its imports of Chinese-made components and parts to support the development of its nascent and growing manufacturing sector," the article said.
SOURCE: The Economic Times
Despite a flurry of media reports suggesting a serious rethink, Australia continues to actively pursue the finalisation of a Free Trade Agreement (FTA) with India. There seem to be two sticking points: India's high tariff rates and whether Australia would ever export uranium to India. With some government officials recently expressing frustration over the slow pace of the negotiations, doubts are being raised whether Australia was serious about inking the deal, also known as the Comprehensive Economic Cooperation Agreement (CECA), with India. The pace of the negotiations may slow down in the coming months but, it seems, the upswing in bilateral ties would continue under Australia's incumbent Liberal government. "Bilateral ties have deepened significantly since Prime Minister (Narendra) Modi's 2014 visit. The government is pursuing an ambitious bilateral agenda with India and Prime Minister Turnbull met Prime Minister Modi on November 15, 2015, and September 4, 2016, during G20 Summits," Australian Minister for Trade, Tourism and Investment Steven Ciobo said in a communication. The two-way goods and services trade between Australia and India totalled A$18 billion (Rs 910 billion) in 2014-15. Of this, Australia's exports to India was at A$12.7 billion and the imports from India were A$5.3 billion. "India's economy offers significant opportunities -- our economies are highly complementary. Soon after Prime Minister Modi's visit, the Australia Business Week in India (ABWI) exposed a delegation of 450 business leaders to the trade and investment opportunities presented by India," Ciobo noted.
It is not that India is playing the role of a recalcitrant partner in the trade pact. While former Trade Minister Andrew Robb made no less than four visits to India last year to escalate the negotiations, a number of Indian ministerial delegations have also touched down in Australia to strengthen bilateral ties. "A more recent visit to Australia by Finance Minister (Arun) Jaitley in March/April 2016, with two business delegations, highlighted the potential for two-way investment, which has been on an upward trajectory since Prime Minister Modi's visit," Ciobo pointed out. The defence of Australia's stance on the FTA was echoed by Sheba Nandkeolyar, National Chair of the Australia India Business Council. "Since Prime Minister Modi's visit to Australia, there have been innumerable visits made by (then) Minister Andrew Robb and his team to India," Nandkeolyar told IANS. "India traditionally has tariffs which are very high and complicated. To expect India to suddenly abolish or bring down everything is not a win situation for India either," she opined.
While there are conflicting reports about the progress and fate of the FTA, some commentators have also been raising doubts whether Australia would ever export uranium to India. Supply of the crucial fuel required for the mushrooming Indian nuclear power stations has been a contentious issue ever since the then Australian Prime Minister John Howard expressed his government's willingness to lift the uranium export ban in 2007. "The governments of Australia and India opened the door to the supply of Australian uranium to India in late 2015 by bringing a bilateral nuclear cooperation agreement into force," Ciobo pointed out. "The Australian government understands that commercial negotiations on supply contracts are advancing well, and looks forward to seeing exports commence soon," he added. "The Australia-India nuclear cooperation agreement was negotiated and brought into force in the period 2013-2015," Ciobo said.
Even though Modi and his predecessor Manmohan Singh have done significant work to improve bilateral ties, there is a general perception that New Delhi can do more to keep the trajectory moving northwards. The ongoing Festival of India in Australia is cited as one example of the Modi government's willingness to engage with Australia. India's low position on the World Bank's Ease of Doing Business index is often cited as one reason why the bilateral ties are not moving at the same pace as with China (Indian ranking 130 vs China 84) which is Australia's largest trading partner. "More visits by senior business leaders, more bilateral cultural events and festivals like Confluence," Nandkeolyar replied when asked what India can do to improve bilateral ties. She said there is a need to debunk the perception that India is a hard place to do business and highlight ground-breaking measures such as the introduction of the Goods and Services Tax, "which has international business ramifications".
SOURCE: The Economic Times
Germany today pitched for immediate resumption of negotiations between India and European Union on the long-pending free trade agreement and sought a “modern” investment protection pact under its framework. German Ambassador to India Martin Ney said the FTA will significantly enhance trade ties between India and EU and will also help in boosting Indo-German economic engagement. He said both the sides must resume the negotiations immediately for the FTA and try to incorporate a modern investment protection agreement to ensure “legal certainty” and business environment for investments. “If we, the countries that believe in democracy, economic freedom, progress if we aren’t joining hands in shaping globalisation, sitting down and spelling out standards and writing it into FTAs then in the future somebody else will do it for us,” Ney told reporters. The envoy pressed India for resumption of the FTA talks. The talks on FTA are stuck on sticky issues relating to intellectual property rights (IPR), data security for IT services and tariff in the automobile sector. The last round of talks on the FTA was held in May, 2013. The EU has been maintaining that it was ready to show flexibility on all major issues that have stalled the talks as the FTA will be a “win-win deal” for both the sides. The EU was also looking at insurance, banking and retail as major areas for economic engagement with India.
Launched in June 2007, the negotiations for the proposed FTA have witnessed many hurdles as both the sides have major differences on crucial issues. “We wish now to conclude an up-to-date Investment Protection Agreement with India. This is supposed to be done within the framework of the FTA that the (European) Commission has already been negotiating. In order to get there we need the resumption of FTA talks,” Ney said.
Talking about ease of doing business, he said both Germany and India have the same interest in having a better environment for investment. “India and Germany have the same interest in improving ease of doing business in India because it is a crucial to improving growth and trade.” “It is of course not only up to the Indian government but up to the whole government system in India, including the judiciary because legal protection is crucial for investment from both sides.” On EU-India ties, he said Germany strongly felt that the FTA will be in the interest of “both of us”. “Let me just say that …when we talk about resumption of FTA negotiations with part of society I find a protectionist reflex that is hovering in discussions,” he said.
SOURCE: The Financial Express
Driven by a drop in global cotton prices, Brazilian cotton purchasers and sellers stayed away from the market, reducing liquidity in the Brazilian spot market in the fortnight ended September 15. The nearing of the end of cotton harvesting, with growers prioritising accomplishment of trades, also contributed to the trend in the reporting period. The CEPEA/ESALQ Index, with payment in 8 days, for cotton type 41-4, delivered in São Paulo, increased 1.07 per cent, closing at BRL 2.4827 or $0.7509 per pound between August 31 and September 15. Quoting data from the Foreign Trade Secretariat, CEPEA said that in August alone, 56,100 tons of cotton was exported, up a staggering 238 per cent as against its previous month, in which 14,600 tons was exported. However, Brazilian cotton imports in the month of August fell to 2,900 tons, down a massive 58.4 per cent compared to July 2016.
SOURCE: Fibre2fashion
Alleged dumping of Chinese textiles into Peru threatens hundreds of thousands of jobs in Gamarra, Lima’s historic garment district. Over 200,000 jobs have been lost and another 400,000 are at risk in the storied garment district located in La Victoria. Peru’s clothing manufacturers cannot compete with cheap Chinese imports, which they say are being unfairly priced to squeeze out competition. “Five thousand businesses have closed in the last 12 months,” Diogenes Alva, a trade group president who has worked in Gamarra for over 50 years, told El Comercio. “Gamarra has had three crises: the Velasco government, terrorism and right now. This is the worst.” Lima Chamber of Commerce (CCL) director Carlos Posada told Gestion that 4,900 Peruvian textile exporters closed between 2012 and 2015, and Peru’s textile exports fell 30%. The CCL has requested that Peru’s trade commission, Indecopi, investigate alleged dumping of Chinese textiles. Posada explained that a CCL study of shirts from China sold in Peru and the United States found that the same garments were priced on average of four times more in the U.S., and as much as 883% more. While that does not meet the legal definition of dumping as defined by the World Trade Organization, Posada believes it warrants an investigation.
The WTO’s defines dumping when goods are sold in an export market at a higher price than in their home market. If the clothes being imported into Peru are bought at prices lower than in China, then Peru would be entitled under its free trade agreement with China to slap import tariffs on those products. In 2013 Gamarra faced a similar crisis, and Indecopi responded by invoking anti-dumping statutes to tax imports on five specific product codes. In May 2015, however, Indecopi overruled its previous resolution and repealed all tariffs on Chinese textiles. According to industry experts, the removal of the tariffs prompted an avalanche of cheap Chinese clothes in Gamarra which have swamped Peru’s production. El Comercio reports that from the first quarter to the second quarter of 2015, when the tariffs were lifted, all five textile categories saw marked increases in import volumes. Shirts and underwear saw the most modest increases with 25% and 39% respectively, while underwear and pants grew 77% while socks more than doubled. Some industry analysts say the importers of Chinese textiles simply evaded those tariffs with falsified import documents and outright contraband.
Posada told Gestion that it is too easy for Peruvian importers of Chinese goods to appeal tariffs levied by SUNAT to have the tariff removed. He estimates that, in 99% of cases, the fiscal tribunal rules that SUNAT cannot determine the product’s true price and exonerates the tax. In 2014 Chinese cotton began to replace Peruvian cotton, which is high-quality but expensive. Cotton production fell 70% in 2013. One source told La Republica that many cotton growers did not stop producing because of cheap competition from China, but to move on to higher profit crops. At least 40% of the garments sold in Gamarra are made in China, while 50% of those made in Peru are made with Chinese cotton. “Clothing can’t come in by the sack without protection,” President Pedro Pablo Kuczynski told concerned vendors during a campaign event in Gamarra during the 2016 elections. But he did not mention pressing for tariffs in recent comments after his visit to China this month. “What do we need to do? We need to improve the brand and quality of the clothes and seek new markets,” Kuczynski told Andina. The president cited the economic crisis in Venezuela as putting downward pressure on prices of exports to South America. He touted lower taxes and less bureaucracy for small business. A Semana Economica report from August 2015 implied that not all of Gamarra’s problems come from unfair competition from China. “Fast fashion” brands and the emergence of shopping malls in the low-income outskirts of Lima have reduced the appeal of Gamarra, which the report says could become “a mere fabric supplier” if it does not adjust its offering to the new market. “The new government can implement anti-dumping measures on China, but that is not the solution,” writes fashion blogger Adriana Seminario in La Mula. She says Peru’s textile producers need to improve their value proposition and business practices. “Some [companies] are betting on reinvention and better managing their business, not just production and sales, but they are not the majority. And yes, [international competition] will not decrease. More and more multinational brands will arrive, and the only solution for the sector will be to become professional.” Peru’s textile industry currently has 18,000 workshops which employ 2 million people. The United States this month imposed a 162.47% tariff on Chinese imports of a specialty fabric used in sports apparel due to dumping in a ruling by the Department of Commerce. They have also begun to tax certain steel imports. Peru’s Aceros Arequipa recently closed a manufacturing plant in Arequipa, citing dumping from China.
SOURCE: The Peru Reports
Lima's largest textile outlet, Gamarra where thousands of people flock to buy clothing items for their family at affordable prices. Peru's President Pedro Pablo Kuczynski in order to target new markets is focused on improving the brand and quality of garments produced at Lima's Gamarra Commerce Emporium. According to the Head of State, the current situation in Venezuela a major garment buyer has had a negative impact on the textile outlet. When consulted on the Trans-Pacific Partnership (TPP) situation, the top official acknowledged it as a positive agreement for Peru, even if it does not include China, which is the dominant power in Asia is a concern in the long-term. Mr. Kuczynski also reaffirmed Peru’s commitment to sign TPP and expects its approval by the U.S. Senate. It must be noted TPP is the one of the world's most important trade blocs. Australia, Brunei Darussalam, Canada, Chile, United States, Japan, Malaysia, Mexico, New Zealand, Singapore, Vietnam and Peru belong to the group hosting 805 million consumers, thus accounting for nearly 40% of global production. The agreement will contribute to turning Peru into a "hub" for Asia-Pacific area. The South American country will draw investments from other nations and be allowed to export goods within the area by taking advantage of TPP preferences. The senior economist reaffirmed Peru's commitment to ratifying TPP, signed by the previous administration. Within the framework of the UNGA 71, Mr. Kuczynski's agenda includes a series of activities in the United States on September 19-23, including meetings with U.S. government officials and investors. As is known, Peru's Commander-in-Chief will address the UN General Assembly on Tuesday, September 20.
SOURCE: Yarns&Fibers
Ambassador of Denmark to Pakistan, Ole Thonke, during his meeting with Governor Sindh Dr. Ishrat Ul Ebad Khand at Governor House on Monday said that Denmark through enhanced trade, investment, and sharing expertise mainly in textile sector and energy is keen to expand bilateral ties with Pakistan. In this connection, Governor Sindh will be providing all facilities to Danish investors in the province. Presently many Danish companies are engaged in various sectors of economy in Pakistan and it is maximizing the industrialization in the country. Ishrat ul Ebad Khan said that the decision of Danish Government to provide all help and assistance to their investors desirous of investing in Pakistan would further boost the economic activities in Pakistan and specially Sindh.
Denmark is heavily dependent on the trade with other countries for its economy adding that that maximum investment would be carried out in Pakistan to boost its overall economy and to help to eliminate terrorist activities. Currently, the volume of bilateral trade was $425 million between the two countries, which needs further expansion.
SOURCE: Yarns&Fibers
Vietnam garment and textile sector due to order shortage likely to fail in achieving its export turnover target of US$31 billion this year which will be decade’s lowest growth level of 4.3 percent. Therefore, Truong Van Cam, deputy chairman of Viet Nam Textile and Apparel Association (VITAS) want to lower its export target to $29 billion. Cam said that domestic garment and textile firms should discuss with each other the difficulties in competing with foreign companies. They have also urged their member companies to avoid internal competition while enhancing co-operation to share orders. The local firms should strive to reach the export turnover of around $2.66 billion a month in the year-end months to meet the whole year's target. In fact, the sector will need basic and synchronous investments to not only overcome difficulties and ensure sustainable and fast growth.
Hung Yen Garment Joint Stock Corporation has 13 businesses with more than 14,000 labourers. The corporation targeted an export turnover of $280 million, but by the end of last month had only reached $160 million, posting a 10-per cent drop compared to last year. Nguyen Xuan Duong, chairman of the corporation's management board, said that his firm had enough orders for this month, but in previous years the number of contracts at this time was usually enough for production until the end of the year. In addition, the exchange rate and salary policies have made prices higher 2-4 percent higher than those of textiles from other countries. The increasing production costs, limited orders and pressure by exporters to reduce selling prices have placed a burden on their corporation, Duong added. Further, the exchange rate of the Vietnamese dong had not been adjusted for years, while the currencies of other countries were devalued by 18-20 percent, making their products 20 percent cheaper than Vietnamese ones.
Importers want them to lower selling prices by 18-20 percent, even 30 percent. However, several still found partners from other countries and have also received small orders until the end of the third quarter of the year. According Hoang Ve Dung, chairman of the Duc Giang Garment and Textile Corporation's management board, obtaining orders had become more complicated, demanding higher quality and advancing delivery deadlines. In the first eight months of the year, export turnover of garment and textile products reached $18.7 billion, meeting 64.5 per cent of the annual target.
SOURCE: Yarns&Fibers
China is working towards creating one the largest trading block in history spanning from India to Japan, a top US trade official has said. US Trade Representative (USTR) Mike Froman said that not signing Trans Pacific Partnership (TPP) would be akin to conceding the Asia Pacific space to China. “China is executing on its regional strategy: the One Belt, One Road initiative, the Silk Road Fund, the Asian Infrastructure Investment Bank, the challenges in the East and South China Seas, and its push to conclude the regional comprehensive economic partnership, or RCEP,” Froman said yesterday in his address at the Rice University’s Baker Institute for Public Policy in Dallas Texas. “RCEP is a mega-regional trade agreement with 16 countries, spanning from India to Japan. It would be the largest regional trading block in history. Russia too has an active regional strategy, signing partnership agreement with countries in the region and through its Eurasian economic union,” Froman said.
Observing that China is posing a major challenge to the US, Froman said that answer to this challenge was to put TPP in place as soon as possible. “China is not our adversary. But it is a competitor that in many respects holds very different views of its role and responsibilities than other major powers,” he said. “There is a perception that China doesn’t play by the same rules that we and much of the rest of the world do, that it’s taking advantage of us, and that it’s asserting its interests in the Asia-Pacific region, and more generally, at the expense of ours and at the expense of its neighbours,” he added. What is interesting about this debate is that while the diagnosis might be right, many have come to exactly the wrong prescription. The answer to this challenge is not to allow China to write the rules of the road for trade, but for the United States to lead that effort, he said. “The answer is not to allow China to carve up the markets of the future, but to level the playing field and give American workers and businesses a shot to compete and win. The answer to China’s challenge is not to withdraw from TPP, but to put it in place as soon as possible,” Froman said. He said that at a time when political discourse in the US was increasingly turning inward, it is worth recalling what’s at stake in the Asia-Pacific. The US is a Pacific power with a long history of leadership and deep interests in the region, he asserted.
Forman warned that for the US turning inward meant turning away from this century’s greatest economic opportunity. The Asia-Pacific is one of the world’s fastest-growing regions, home to nearly half of humanity and over one-third of the world economy. In less than 15 years, two-thirds of the world’s middle class will call the Asia-Pacific home, and they will want more of everything that America is great at making, Forman argued. “From cars to cosmetics, from apps to streaming movies, from beef and pork to fresh fruits and vegetables. And their governments and businesses will be among the fastest-growing investors in everything from infrastructure to aircraft to satellites — all of which we lead the world in producing. TPP puts us at the center of that growth story,” he said. It brings together 12 countries comprising nearly 40 per cent of the global economy, countries large and small, developing and developed, to define high standard rules of the road for the future of international trade, Froman said. He said it cut or eliminates over 18,000 foreign taxes or tariffs on US exports, making it easier for American workers, farmers, ranchers, and businesses of all sizes to compete and win in the global economy. Froman said the RCEP kinds of arrangements present a very different future than that envisaged by TPP. Unlike TPP, these agreements do not raise labour and environmental standards. They do not ensure that government owned corporations have to compete fairly against private firms. They do not protect intellectual property rights and they do not maintain a free and open Internet, he said. According to Froman, without TPP, US’ partners in the region will question the wherewithal of America as a Pacific power. “If Congress fails to follow through in a timely fashion, they will have no choice but to question the reliability of our commitment to the region. And failure to lead in the Asia Pacific will have broad spillover effects around the globe,” he warned. “Whether it’s negotiating other trade agreements, leading international economic policy, or making commitments to countries outside of the economic realm, turning inward and failing to deliver on our promises undermines the credibility of the United States more generally,” he said.
SOURCE: The Financial Express
At the 19th edition of the Techtextil Symposium, which is held concurrently with the two leading international trade fairs, Techtextil and Texprocess, renowned experts will present the latest research results, as well as new products and applications. Techtextil Symposium 2017 is an informative and visionary expert forum revolving around the subjects of technical textiles, functional garment fabrics and their multifarious applications, which will take place from 9-12 May in Frankfurt, Germany. Techtextil Symposium will take place from 9-12 May in Frankfurt, Germany. © Messe Frankfurt Exhibition GmbH / Thomas Fedra In addition to the proven lecture format, discussions and workshops will facilitate an active exchange of ideas for the first time. Experts interested in making a contribution are invited to subject proposals for the individual formats until 7 November 2016.
New perspectives
“Each area of application has specific requirements with regard to the properties and production of technical textiles. At the same time, textiles are the key to new solutions in fields such as architecture, medicine and safety,” said Michael Jänecke, Director, Technical Textiles & Textile Processing Brand Management. “The symposium permits an interactive debate about current problems and innovative visions of the future, and opens up new perspectives for participants.”
Themes and formats
The focus of Techtextil Symposiums 2017 will be on new developments, trends and potential areas of application for technical textiles and nonwovens whereby emphasis will be given to both processing and new products. Special themes include apparel textiles, including smart textiles and wearables, printing technologies, such as 3D and digital printing, and the internet of things with regard to textile machines and sustainability. The thematic blocks are:
Texprocess, a leading international trade fair for processing textile and flexible materials, will be held concurrently with Techtextil for the third time from 9-12 May 2017. In 2015, Texprocess and Techtextil attracted 1,662 exhibitors from 54 countries and around 42,000 trade visitors from 116 nations. At Techtextil 2015, 34,000 trade visitors saw the new products being shown by 1,389 exhibitors.
SOURCE: The Innovation in Textiles
Expoprotection is the only event in France that brings together top international specialists and the most innovative equipment and solutions, combining conferences and meeting areas. Sympatex Technologies, pioneer in the field of sustainable functional textiles to exhibit its ‘Smart Textiles’ product category at the fair. At the show, Sympatex will introduce the latest generation of integrable heating and lighting system, developed especially for the use in jackets, waistcoats and gloves in the workwear sector. The Sympatex heating system contains battery-powered heating modules in different sizes that can be used flexibly, offering the wearer a great freedom of movement. They are invisible from the outside, easy to control and have a multi-level regulation and offer a quick and homogeneous heat supply for long lasting comfortable body temperature. According to the company, the advantage lies in a higher performance and well-being like during construction or road building work, in freezing temperatures. While the integrable battery-powered lighting system offers an improved view and visibility by daylight, at dusk and at night and with the help of an operating unit, it is very easy to regulate four different light functions. Sympatex will be displaying their innovative products at booth T-146 at the Expoprotection fair which will be held from November 7-9, 2016 at Paris Porte de Versailles – Pavilion I.
SOURCE: Yarns&Fibers
