The Synthetic & Rayon Textiles Export Promotion Council

MARKET WATCH 05 MARCH, 2019

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INTERNATIONAL

Want to terminate preferential trade status for India: Trump to US Congress

New Delhi not providing us equitable and reasonable access to markets. Want to terminate preferential trade status for India, says Trump in letter to US Congress. Arguing that New Delhi had failed to assure America that it would provide equitable and reasonable access to its markets in numerous sectors, US President Donald Trump on Monday informed the US Congress about his intent to terminate the designation of India and Turkey as a beneficiary developing country under the Generalised System of Preferences (GSP) programme. In a letter to the Speaker of the US House of Representatives, Nancy Pelosi, Trump said he was determined that New Delhi had "not assured" the United States that it would "provide equitable and reasonable access" to the markets of India. "I will continue to assess whether the Government of India is providing equitable and reasonable access to its markets, in accordance with the GSP eligibility criteria," Trump said in his letter, a copy of which was released to the press. In a separate letter, Trump also informed the Congress of his intent to terminate the GSP beneficiary designation of Turkey. This was primarily because the economy of Turkey had improved a lot in the last four-and-a-half decades, he said. "In the four-and-a-half decades since Turkey's designation as a GSP beneficiary developing country, Turkey's economy has grown and diversified," he said. "Increases in Gross National Income per capita, declining poverty rates and export diversification by trading partner and by sector are all evidence of Turkey's increased level of economic development. In addition, Turkey has graduated from other developed countries' GSP programs due to its increase in economic development or through reciprocal arrangements," he argued. Trump's letter to Pelosi could be seen as a major setback in India-US bilateral relationship, in particular in the arena of trade and economy. In a separate statement, the US Trade Representative (USTR) said India's termination from GSP followed its failure to provide the US with assurances that it would provide equitable and reasonable access to its markets in numerous sectors. Turkey's termination from GSP followed a finding that it was sufficiently economically developed and should no longer benefit from preferential market access to the US market, the statement said. "By statute, these changes may not take effect until at least 60 days after the notifications to Congress and the governments of India and Turkey, and will be enacted by a Presidential Proclamation," the USTR said. Under the United States GSP programme, certain products can enter the US duty-free if the beneficiary developing countries meet the eligibility criteria established by Congress.The GSP criteria include, among others, respecting arbitral awards in favour of US citizens or corporations, combatting child labour, respecting internationally recognised worker rights, providing adequate and effective intellectual property protection and providing the US with equitable and reasonable market access. Countries can also be graduated from the GSP programme, depending on factors related to economic development. The Trump Administration had launched an eligibility review of India's compliance with the GSP market access criterion in April 2018."India has implemented a wide array of trade barriers that create serious negative effects on United States commerce. Despite intensive engagement, India has failed to take the necessary steps to meet the GSP criterion," the USTR said.

The US had designated Turkey as a GSP beneficiary developing country in 1975. An increase in the Gross National Income (GNI) per capita, declining poverty rates and export diversification by trading partner and by sector were evidence of Turkey's higher level of economic development, the USTR said.

Source: Business Standard

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Want permanent seat for India in reformed UN Security Council: France

France said that enlargement of the powerful UNSC in both permanent and non-permanent categories is the 'first crucial part' towards UNSC reform. France, which assumed the March Presidency of the United Nations Security Council, has reiterated its support for India as the permanent member of the powerful UN organ, saying the UNSC's enlargement is the "first crucial part" towards its reform. India has been calling for the reform of the UN Security Council along with Brazil, Germany and Japan for long, emphasising that it rightly deserves a place at the UN high table as a permanent member. France, a veto-wielding permanent member of the 15-nation Security Council, last month moved a fresh proposal in the UNSC along with the US and the UK to designate Pakistan-based terror group Jaish-e-Mohammed chief Masood Azhar as a global terrorist. Reiterating its support for India, Germany and Japan as permanent members of an expanded Council, France said that enlargement of the powerful UN organ in both permanent and non-permanent categories is the "first crucial part" towards UNSC reform. "We want enlargement of the Security Council in the two categories of non-permanent and permanent categories - India, Brazil, Germany and Japan - and equitable representation of Africans and so that is the first crucial part of it," French Permanent Representative to the UN Franois Delattre told reporters here Friday. Delattre, at a joint press briefing with the German envoy to the UN Christoph Heusgen, said that the key to UN reform is openness through three different areas - the openness of the Security Council that entails expansion of the 15-nation, partnership and openness to civil society.

Germany will take over the Presidency in April. "That is a strategic aim that France has and I do believe it is Germany's strategic aim as well... If we believe in the UN and the representative nature of the Security Council, we need to ensure that enlargement (of UNSC) be a success sooner rather than later," Delattre said. He stressed that the UN cannot be recognised as a centre of gravity for multilateralism throughout the world unless it can step-up partnerships and focus should also be made on openness to civil society, business world, NGOs and trade unions, which are all stakeholders that breathe life into the UN. "The reform of the Security Council through its enlargement is one of the key areas and key priorities of our diplomacy," Delattre said. The German Ambassador pointed out that the Security Council, in its present composition, does not reflect the realities of this world. "France and Germany spoke with one voice in this and we need to have reforms," Heusgen said adding that "If you don't reform the Security Council, it will lose legitimacy and therefore I think we should really work forward".France has maintained that if the crisis of recent times have confirmed the centrality of the UN, they have also reinforced the need to make the organisation more effective and more representative of the current balances in the world. "That is why France pushes for the expansion of the Security Council by supporting the accession to a permanent seat of Germany, Brazil, India, Japan, as well as a greater presence of African countries," according to the Permanent Mission of France. India is at the forefront of efforts at the UN to push for urgent long-pending reforms of the Security Council. Last week, India's Permanent Representative to the UN Ambassador Syed Akbaruddin said on the issue of 'Categories of Membership', a total of 113 member states out of the 122 which submitted their positions in the Framework Document, support expansion in both of the existing categories specified in the Charter. "In short, more than 90 per cent of the written submissions in the document are in favour of expansion in both categories of membership specified in the Charter," he said during the informal meeting of the plenary on the inter-governmental negotiations on the question of equitable representation on and increase in the membership of the UNSC. Earlier, Akbaruddin had said that while reform at the UN is a process rather than an event, "there is no process known to us here that has traversed winding pathways in the manner as this process of the Reform of the Security Council"."In terms of inertia too, it has no peer. While the world is not what it was when we began the process, the objections to moving forward remain the same. "While the global challenges of the 21st century have multiplied, we remain divided even about the process to adopt in order to move forward," he had said.

Source: Business Standard

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China asks for duty-free import of 85% of its products into India

India has offered to open up 74% of its market to Chinese goods in phases but China is not satisfied with the proposal. China has asked India to allow duty-free import of 85% of its products into the country. During the countries' bilateral discussions, Indian officials were told that China was willing to give duty-free access to 92% of Indian exports, provided the bar was raised for Chinese products. India has offered to open up 74% of its market to Chinese goods in phases but China is not satisfied with the proposal, mentioned reports. The demand from the Asian giant is putting pressure on the policymakers as they are looking to create the world's largest free-trade agreement under the Regional Comprehensive Economic Partnership (RCEP). According to a report in Times of India, India offers lower concessions to China as compared to other countries where over 90% of imports can come duty-free. However, even the current arrangement deals with risk of Chinese goods dominating Indian markets, which would further impact the trade deficit estimated at $63 billion in the last financial year. Officials also acknowledged that India has little option other than to open up the market gradually with a long tariff phase-out period so that Indian players have time to adjust to the competition, as mentioned in the daily. During a RCEP meet last week, trade ministers from the 16 participating countries decided to intensify negotiations so that it can conclude over the next few months. A final decision of concessions across sectors is only expected after the new government comes to power this summer. Talks for RCEP have been underway for over six years now but India has been concerned over cheap imports that would enter the country and devastate certain sectors. Apart from India and China, ASEAN members, Japan, South Korea, Australia and New Zealand are in the process of negotiation with 2019 as the deadline.

Source: Business Today

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India tops Global Consumer Confidence Survey

Singapore, March 4 (ANI):The global consumer confidence in India is at peak. This was revealed in the latest Conference Board Global Consumer Confidence Survey, which is conducted in collaboration with Nielsen. The survey which was conducted over the internet, polls more than 32,000 consumers in 64 countries across Asia-Pacific, Europe, Latin America, the Middle East, Africa and North America. India had a Consumer Confidence Index (CCI) score of 133 in the fourth quarter of 2018 edging past the Philippines (131) and Indonesia (127). India maintain its number one position from the third quarter when it scored 130 on the index whereas Philippines and Indonesia were joint fourth in Q3 of 2018 with an identical score of 126. South Korea has the most pessimistic consumers in the world. People there are worried about rising inflation, lower wage growth, a weak stock market, unemployment and global trade uncertainties. Meanwhile, the Global Consumer Confidence Index increased one point to 107 in fourth quarter of 2018, the highest in 14 years. The main indicators measured by Conference Board CCI are optimism towards job prospects, health of personal finances and spending intentions in the next 12 months. Globally, consumers perceptions towards job prospects and personal finances remain positive but consumer sentiment towards spending remain low and less optimistic because of anticipated higher prices due to higher oil prices creating inflationary pressures, uncertainty with regards to global trade, falling currency and rising interest rates affecting borrowing costs. With the exception of North America where consumer confidence is at its highest for years, developed economies are generally less optimistic. With a reading of 100 on the CCI considered positive, European consumers tended to be the least optimistic with an average score below 90. Whereas their Asian and North American counterparts tended to be more upbeat. Consumers in the Latin America, Middle East and Africa are considered to be cautiously optimistic with a score in the nineties, but all regions have seen improvements in consumer confidence in the last year. The survey shows the CCI in the Asia-Pacific increased three points to 117. Major markets such as China, India, Indonesia and Japan all improved. Although the CCI for Asia-Pacific is generally good, people in the more mature economics like Australia, New Zealand, Singapore and Hong Kong are more cautious about their spending but these countries continue to offer good opportunities for consumer businesses. While consumer confidence remains high in China, there are signs from retail spending data that consumers are spending less - an impact as a result of trade tensions with the US. The residents in the second largest economy in the world are also beginning to be less positive about jobs. On balance, consumers globally are somewhat more confident compared with a year ago. The global uptick in confidence is a positive sign for economic and business growth in 2019. Consumer confidence surveys are seen as a proxy measure to gauge short term demand by assessing people's views on the economy. A positive trend indicates the possibility of higher spending by consumers in the short-term and that may boost economic growth. However, several economic headwinds are expected to affect global GDP like the yet unresolved trade dispute between China and the US, rising interest rates, inflationary pressures and uncertain oil prices. Indeed, some economists expect that GDP growth will moderate in 2019. Fears of significant pullback of global trade could undermine growth outlook for both emerging and mature economies particularly those that depend on global trade. This is after a steady rise in GDP in recent years despite trade fears, fluctuating oil prices and worries about the impact of Brexit. According to International Monetary Fund data, real global GDP growth has been inching up since 2015 at a rate of between 3.3 percent in 2016 to 3.7 percent in 2018. However, growth is not even with emerging markets growing at a higher rate of 4.7 percent in 2018 compared with 2.4 percent in the advanced economies. For India, the results of this survey mirrors a Reserve Bank of India (RBI) survey released in early February which indicates that consumer confidence in India is at a two year high. The RBI survey was conducted across 13 major Indian cities. The rise in consumer sentiment is likely due to inflation hitting an 18-month low in December as oil prices stabilised and the rupee appreciated. Although 76 percent of respondents in the RBI survey expect inflation to rise in 2019, consumers say they expect a rise in income and employment opportunities in the same period. The results of this survey come at a time when PM Modi's government is facing criticism due to a lower job creation rate resulting in unemployment touching a 45-year high in 2017-18 according to the National Sample Survey Office's periodic labour force survey released recently. Going forward, India's consumer confidence may be dampened by poorer macroeconomic fundamentals like a weak currency, widening deficits, rising prices, mounting bad loans and stricter credit conditions. However, this impact is expected to be buffered by ramped up government spending and social programmes leading to the general elections.

Source: Business Standard

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Chinese cheer for Indian exports

India’s bilateral trade deficit with China has shrunk this year, though Indian exports are still dominated by primary products. Amidst growing concerns about the trends in India’s export growth over the coming months due to perceptible signs of a cooling global economy is an unexpected area of cheer. Dynamics of India’s trade with its largest trade partner — China — are showing surprisingly good results in the current fiscal. In the first nine months of 2018-19, India’s exports to China have grown by an impressive 34 per cent (as against less than 10 per cent overall), while imports from its northern neighbour have declined by nearly 4.5 per cent (as against an increase of 14 per cent overall). This combination of positive export growth and negative import growth is a rare occurrence in India-China trade, having occurred only twice earlier since the middle of the previous decade. One of these included 2009, the year in which the Chinese economy had felt the impact of economic downturn. As a result of the export upswing being witnessed in recent months, India’s trade deficit with China during April to December 2018 was $41.3 billion, down from nearly $47 billion in the corresponding period in the previous fiscal. This is the steepest decline in trade deficit for the first nine months of any financial year. India thus seems poised to register the sharpest decline in its trade deficit with China for an entire financial year. This would also reverse the rising trend in trade deficit, which had touched an all-time high of $63 billion in 2017-18. What was remarkable about this figure of trade deficit is that it accounted for nearly 40 per cent of India’s overall trade deficit. Over the past two decades, India-China trade has changed drastically. At the turn of the millennium, China was the outside the list of top five import sources for India, having a share of less than 3 per cent in India’s total imports. In 2000-01, India’s imports were $1.5 billion and exports were $831 million, and the trade deficit was a modest $671 million. Imports from China recorded dramatic increase from 2003-04, up from $4 billion to $32 billion in 2008-09. By 2014-15, imports from China had exceeded $60 billion, and in the previous financial year, imports were over $76 billion. On the other hand, India’s exports to China remained extremely sluggish. From $3 billion in 2003-04, exports reached $10 billion in 2007-08. Indian exports peaked at $18 billion in 2012-13, but five years thereafter it could export no more than $13 billion. Consequently, the trade deficit expanded drastically to over $63 billion in 2017-18.

Electronics, pharma dominate

More than the increase in imports, it is the composition of India’s trade with China that is of real concern. Imports from China are primarily in two commodity groups — electrical and electronic equipment and pharmaceuticals. In 2017-18, almost 60 per cent of India’s import requirements of electrical and electronic equipment were met by China, as were more than 75 per cent of the active pharmaceutical ingredients, the raw material used by India’s generic pharmaceutical industry. China supplied more than 80 per cent of the antibiotics imported by India, and well above 60 per cent of electronic products and components. Thus, some of the key sectors of the Indian economy are critically dependent on China. In sharp contrast, India’s top exports were mostly intermediate products and raw materials. These included cathodes, petroleum oils, intermediate products for the producing films and plastics and iron ore and concentrates. The broad sectoral trends of the exports of China and India show that for the latest year, manufactured products constituted 55 per cent of India’s non-oil exports to China, while the corresponding figure for China was as high as 95 per cent. This implies that primary commodities had a significant share of India’s exports, which is consistent with China’s strategy to source raw materials from its trading partners. Now that India’s exports have jumped by more than a third in April-December 2018, as compared to the corresponding period in the previous year, has the commodity composition also changed in India’s favour? The product group contributing the most to the increased exports to China was petroleum products. In terms of volume, the increase was by over two and a half times during April-December 2018 as compared to the previous year. Favourable movement in product prices in most of 2018 resulted in a three-fold increase in value of exports. Augmentation of Reliance Industries’ aromatic production capacities over the past couple of years has positioned the company as one of the major producers of paraxylene, orthoxylene and benzene (the building blocks for polyester fibres and several other petrochemical intermediates). This increased production has found its way into the export market; China emerging as one of the major destinations. Among the group of products pushing India’s exports to China in the recent months are two primary products — fish and crustaceans and raw cotton. Exports of both these product groups in the current fiscal increased by at least three-fold as compared to 2017-18. Although India’s exports to China have registered impressive increase, and have also contributed to the lowering of the trade deficit with its largest trade partner, there remains a significant area of concern. This stems from the fact that the recent export trends merely reinforce India’s role as a supplier of raw materials and intermediates to China. Thus, in the absence of adequate manufacturing facilities that could have helped in processing the increased production of raw materials and intermediates, these products are being exported and India is foregoing domestic value addition. With the government failing in its attempt to incentivise “making” in India, increased exports to China should, therefore, be seen as a stream of opportunities missed for creating jobs in the country and adding additional incomes in Indian hands. The writer is Professor, Centre for Economic Studies and Planning, Jawaharlal Nehru University

Source: The Hindu Business Line

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Indian exporters should tap Africa more: Exim Bank MD

Indian exporters need to tap more African countries that have an almost ‘unlimited market’, according to David Rasquinha, managing director of Export Import Bank of India. Speaking at the International Trade Conclave organised by the Bengal Chamber of Commerce and Industry in Kolkata recently, he said the bank was quite optimistic about the African continent. India’s exports to Africa had increased from 7.5 per cent in 2009-10 to 8 per cent in 2017-18. Of the 54 African countries, there was significant trade with 47. The bank is engaged in some infrastructure projects in Africa where the quantum of finance extended was close to $2.5 billion in aggregate, Rasquinha said. A railway project in Ghana was already under way where Exim Bank is having an exposure and it is also financing companies doing trade with Africa, he said. The bank was bullish on renewable energy, power transmission, agriculture, textiles and sugar in the sub-continent, he said.The bank may clock a 10 per cent growth, with its business likely to touch ₹1 lakh crore this fiscal, he added. (DS)

Source: Fibre2Fashion

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US puts end to dispute with EU over diplomatic protocol

The United States on Monday put an end to a dispute with the European Union over diplomatic protocol and lauded the 28-nation bloc as "one of America's most valuable partners." US Ambassador Gordon Sondland announced that "effective immediately" a recent diplomatic demotion of the EU ambassador in the largely ceremonial diplomatic Order of Precedence would be ended. The perceived snub caused friction in early January and was seen as underscoring deteriorating trans-Atlantic relations. EU Commission spokeswoman Maja Kocijancic said the bloc "was in touch with the U.S. administration to clarify this matter and we are therefore pleased that the United States took the decision to revert to the usual." Even if the diplomatic change had little direct impact on relations, it was seen as a harbinger of future relations in which the EU would sink ever lower in the esteem of U.S. President Donald Trump. Sondland now said in a statement that "the European Union is a uniquely important organization, and one of America's most valuable partners in ensuring global security and prosperity." "Europe's security and success are inextricably linked to that of the United States, and this level of engagement and cooperation should be recognized appropriately in all settings," he said. Both sides, however, continue to disagree over issues, from the assessment of the nuclear threat of Iran to economic disagreements. EU trade chief Cecilia Malmstrom is in Washington this week to meet her counterpart Robert Lighthizer in an attempt to stave off a trade war over car tariffs. Trump says the US is mulling tariffs on imported vehicles from Europe, suggesting a final decision will hinge on the two sides reaching a trade deal in the coming months. Malmstrom has said "there is full support" from EU member states to hit back if Trump impose tariffs on cars and car parts.

Source: Business Standard

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Coming soon: Skill vouchers from Modi govt to incentivise India's youth

The vouchers can be used to pay for skill training at any of the approved skill To incentivise youth to undertake skilling programmes, the government is considering issuing skill vouchers or skill wallets. According to the Economic Times, the vouchers can be used to pay for skill training at any of the approved skill providers. The redeemable value of these vouchers/wallets will depend on the courses opted for,” ET reported, quoting an official. The move is in line with the government’s plan to shift from subsidy-based system to incentive-based Skill India mission.

— 100% redeemable vouchers in sectors with less starting salary

The government will issue 100% redeemable wallets/vouchers for skills training in sectors like construction as the starting salary earned in these sectors is generally not enough for the youth to bear the cost of training.

— Partly redeemable vouchers in sectors with a higher starting salary

However, for courses like those of beautician or fashion designing where the starting salary is good, the vouchers will be partly redeemable and the remaining cost will have to be borne by the candidate.

Key takeaways

* Students can pay for the course through the voucher and choose the course/institute of their choice. This could improve access and equity.

* The choice to the students could facilitate informed decision on course/trade to be taken up. This could lead to better access to employment opportunities.

* The institutes have to earn their vouchers based on meeting the performance criteria.

* If the scheme is successfully implemented. it can provide millions of young people the opportunity and choice to build meaningful careers through skill development.

Only 4.7% of the workforce in India has formal skill training

The National Sample Survey Office’s 68th report says that only 4.7% of the workforce had formal skill training, compared to South Korea (96%), Japan (80%), Germany (75%), United Kingdom (68%) and the United States (52%). Most workers acquire skills due to on-the-job training.

According to a World Bank report published in 2017, more than 12 million youth between 15 and 29 years of age are expected to enter India’s labour force every year for the next two decades. The government’s recent skill gap analysis concludes that by 2022, another 109 million or so skilled workers will be needed in the 24 keys sectors of the economy. At present, however, school leavers have few opportunities to acquire job-specific skills. providers

Source: Business Standard

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India Design Week to launch its first edition of Spring Summer

India Design Week is coming up with its first edition of Spring Summer season in April 2019. The design week aims at giving the platform to artisans of art and craft, handloom sector which is on the verge of extinction and also to promote young talent in the field of Textile, Knitwear and Lifestyle along with fashion which is again an untouched segment of the fashion industry. "With India Design Week we strive to focus on Positive Fashion, creating a platform designed to celebrate diversity, sustainability, craftsmanship and new talent where the young designers, artisans can connect to direct buyers and get appreciated for their art and efforts," said Deepshikha Chaudhary, Founder of India Design Week. "Creating a platform to save dying crafts and boost young talents of other sectors like Knitwear, textile and lifestyle of India are our originality. India has a vast range of rich crafts and tradition, and Fashion and textile is an essential dose of any person's lifestyle and if we combine it with Indian craft its identity changes completely," said Nidhi Chaudhary, Founder, India Design Week. Platform designed to boost young designers and artisans. This summer artisans and designers will get a new platform as India Design Week commences this April. The event will have runway shows along with the Exhibition to showcase fashion, textile, knitwear, lifestyle and accessories designers as well as other art and craft artisans will put their products to sell. The artisans will display the different varieties of products from different parts of India. The event will be held on 29th and 30th April at CIDCO Exhibition Centre, Vashi, Navi Mumbai. It will be interesting to see new talents, a variety of crafts, culture coming together under one roof. The sisters came up with the idea to bring the artisans of different states and young designers together on a national platform where they can showcase their real talent. This story is provided by NewsVoir.

Source: Business Standard

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Uttarakhand to set up centre of excellence for Himalayan fibre

The Uttarakhand government has decided to set up a centre of excellence for Himalayan fibre in Almora district of Kumaon. The decision was taken at a cabinet meeting here on Sunday evening, said state Urban Development Minister Madan Kaushik. The centre of excellence will be set up with support from the Northern India Textile Research Association (NITRA) - Ghaziabad. NITRA, which comes under the Union Ministry of Textile, will set up a training institute for developing fibre products at the Centre. The cabinet also cleared a proposal for allotment of 0.4 hectares of land needed for the centre at Bercimi village in Almora, Kaushik said. "Our aim is to produce top quality fibre and best quality products from the forest flora in Uttarakhand.This will give people new avenues of employment," said Kaushik. The centre of excellence is in line with the state's efforts to optimise the use of local trees such as pine, bhimal and oak. Union Minister of State for Textile Ajay Tamta has been taking a keen interest in the better use of pine needles, which otherwise are a major cause of forest fires in Uttarakhand. It was on Tamta's request that NITRA, Ghaziabad started research to see whether pine needles can be used to make fibre products. "Work is on to produce a blend of fibre and yarn," said Shweta Saxena, a Senior Scientific Officer at NITRA. Bhimal (Grewia optiva), another common tree of the lower Himalayan region -- the leaves of which make for excellent fuel and cattle fodder -- is now being used to make fibre from which products such as slip-ons, baskets, mats and bags are prepared. A group of women, supported by the Bhartiya Gramotthan Sanstha, in Rishikesh are experimenting with bhimal fibre and jute to even produce handloom items. "We mix the fibre of bhimal and jute to make handloom products," said Veena Pundir, the group trainer.

Source: Business Standard

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India needs land, labour reform to aid manufacturing-chief economic adviser

The share of manufacturing in the economy has grown just 1.5 percentage points in the last three years to 18 percent, and good exports have shown little sign of a pick up in the last five years. India’s next government will have to bring in land, labour and financial sector reforms to improve the productivity of the manufacturing sector and boost economic growth, India’s chief economic adviser said. “These are the critical areas, we need to work on,” Krishnamurthy Subramanian told Reuters in an interview. Several business leaders said a delay in land acquisition for private factories, decades-old restrictive labour laws and higher borrowing costs discourage many investors who therefore prefer to build new plants in countries like Vietnam, Thailand, and Bangladesh. The share of manufacturing in the economy has grown just 1.5 percentage points in the last three years to 18 percent, and good exports have shown little sign of a pick up in the last five years. India’s economic growth rate has decelerated to a five-quarter low of 6.6 percent in the last quarter of 2018, dragged down by lower growth in consumer demand and government spending, raising concerns among policymakers and politicians. But brushing aside concerns about an economic slowdown, Subramanian said the present government’s economic reforms have contributed to an average annual growth rate of 7.3 percent over the past five years. Subramanian, who was a student of former Reserve Bank of India governor Raghuram Rajan at the University of Chicago Booth School of Business, was appointed as chief economic adviser by Prime Minister Narendra Modi last December for three years.

BACKED OFF

Modi tried to push land and labour reforms after he took charge in 2014, but had to shelve them after strong opposition from political parties and labour unions. Industry has for years sought approvals for easy acquisition of land at a cheap price for setting up factories, flexible labour laws to hire and fire workers, a subsidised social security network for employees, and lower interest costs for funding to compete with other countries. Land costs have more than doubled over the past five years, and hiring costs have gone up significantly, hitting labour intensive sectors like textile, leather and gems and jewelery, business leaders said. The country faces an uphill task to create jobs and shift millions of unemployed and underemployed youth from the rural farm sector to urban areas. As many as 75-100 million young people are expected to come onto the Indian labour market in the five-year term of the next government. A general election must be held by May. As for low food prices, Subrmanian said that increasing farm production is taking its toll on prices. “We have a population that is growing at less than one percent and the food is growing more than 3 percent,” he said referring to fall in prices of food items. “Because there is a surplus, the prices will go down,” said Subramanian, adding that India’s farm sector faced a real crisis and needed government intervention. The average annual income of farm households was just 30,000 rupees ($423.71), he said, and the government’s plan to directly transfer 6,000 rupees annually to each of about 120 million farmer households would help them as well as the economy. On the state of the economy compared to 2014 when Modi took charge, Subramanian said the economy was on a stronger footing thanks to economic reforms, higher state spending on infrastructure and fall in inflation which has strengthened the domestic consumer demand and private investments. “We are poised for growth because some of the requirements for a sustained growth without speed breakers have been erected,” he said adding the economy could grow at 7.2 to 7.5 percent in the next fiscal year beginning April 1.

Source: Financial Express

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Srinagar office of Carpet Export Promotion Council opened

Indian textiles minister Smriti Irani has assured full support to the Kashmir carpet industry’s growth and promotion. Inaugurating the Srinagar office of Carpet Export Promotion Council (CEPC) in the premises of the Indian Institute of Carpet Technology (IICT) in Srinagar recently through video conference, she said the new CEPC branch will help enhance exports. The state textile committee in partnership with the development commissioner, handicrafts, (DCH) and CEPC will offer special lab testing facilities at IICT in Srinagar. A wool bank will also be opened in collaboration with the Wool Development Board to ensure availability of sufficient raw wool through the follow up of the office of the DCH, according to a news agency report.

Source: Fibre2Fashion

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Global Textile Raw Material Price 04-03-2019

Item

Price

Unit

Fluctuation

Date

PSF

1286.39

USD/Ton

0%

3/4/2019

VSF

1989.95

USD/Ton

-0.30%

3/4/2019

ASF

2446.07

USD/Ton

0%

3/4/2019

Polyester POY

1230.49

USD/Ton

0.98%

3/4/2019

Nylon FDY

2891.76

USD/Ton

0%

3/4/2019

40D Spandex

4725.20

USD/Ton

0%

3/4/2019

Nylon POY

3130.26

USD/Ton

0%

3/4/2019

Acrylic Top 3D

5634.47

USD/Ton

0%

3/4/2019

Polyester FDY

1527.87

USD/Ton

0.49%

3/4/2019

Nylon DTY

2683.08

USD/Ton

0%

3/4/2019

Viscose Long Filament

2548.93

USD/Ton

0%

3/4/2019

Polyester DTY

1445.88

USD/Ton

0%

3/4/2019

30S Spun Rayon Yarn

2742.70

USD/Ton

0%

3/4/2019

32S Polyester Yarn

2019.76

USD/Ton

0%

3/4/2019

45S T/C Yarn

2876.86

USD/Ton

0%

3/4/2019

40S Rayon Yarn

2161.37

USD/Ton

0%

3/4/2019

T/R Yarn 65/35 32S

2548.93

USD/Ton

0%

3/4/2019

45S Polyester Yarn

3040.82

USD/Ton

0%

3/4/2019

T/C Yarn 65/35 32S

2534.02

USD/Ton

0%

3/4/2019

10S Denim Fabric

1.37

USD/Meter

0%

3/4/2019

32S Twill Fabric

0.83

USD/Meter

0%

3/4/2019

40S Combed Poplin

1.12

USD/Meter

0%

3/4/2019

30S Rayon Fabric

0.66

USD/Meter

0%

3/4/2019

45S T/C Fabric

0.71

USD/Meter

0%

3/4/2019

Source: Global Textiles

 

Note: The above prices are Chinese Price (1 CNY = 0.14906 USD dtd. 04/03/2019). The prices given above are as quoted from Global Textiles.com.  SRTEPC is not responsible for the correctness of the same.

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UK : Polyester has grown to represent 55% of the world's fibre consumption

In her first piece for 2019, resident digital printing expert Debbie McKeegan explores one of the most common fabrics in fashion: polyester. With sustainability and pollution on the minds of many, Debbie shares a world in which we could be using only recycled polyester by 2030. Debbie is the CEO of TexIntel – an expert advisory practice serving the Creative, Digital and Print Textile manufacturing Industry.

How do we re-fashion fashion?

Firstly we have to understand the fabrics we consume. Polyester has grown to represent 55% of the world’s fibre consumption, and acts as a staple of our industry. It’s big business, when viewed as a percentage of an industry that’s valued at $1.3 trillion (US). Polyester is a much misunderstood synthetic fibre in the world of Fashion, maligned by the sustainable lobby because it is derived from oil-based resins, and because it consumes large amounts of energy in its current process of manufacture which must be reformed. Yet, it does have many relative ecological merits when compared to cotton and other fibres and their energy consumption, water use, social and environmental impact, and manufacturing processes. All of which have to be balanced against the perceived image of the fibre as wasteful and polluting.

But first, some facts: what is polyester?

Polyester is a synthetic polymer made of purified terephthalic acid (PTA) or its dimethyl ester dimethyl terephthalate (DMT) and monoethylene glycol (MEG), all derived during the refining and distillation of crude oil. Originating from research, headed by W.H. Carothers, working for DuPont on the development of synthetic fibres. British scientists Whinfield and Dickson, took up the research in the late 1930s and eventually patented PET or PETE in 1941. Polyethylene terephthalate forms the basis for synthetic fibers like Dacron, Terylene and Polyester. Polyester is a synthetic fibre, with a high resistance to water, wind and the environment when compared to cellulose (plant derived) fibres. In 1946, DuPont bought all legal rights from Imperial Chemical Industries (ICI). Over the years, fuelled by public demand for the types of fabrics that polyester made possible, polyester fibre production has not only grown enormously, but its rate of growth is accelerating. With no sign of a slow down in its use predicted, when you allow for the global growth as estimated by the UN (United Nations), the world population is set to grow to 8.5 billion people by 2030 with a huge rise in a spending population within the middle classes which are set to increase to 5 billion, their affluence will increase demand for and the consumption of fashion. Polyester is formed as a resin, which is then extruded as a fibre. Once spun, knitted or woven polyester exists as multiple fabric types, many of which mimic cellulose fabric constructions from chiffons to Panama weaves and from silks, satins to knitted stretch jersey, with uses spanning every sector of fabric through the vast product SKUs of Apparel, Athleisurewear, Sportswear and Interiors. Polyester and the fabric derivatives produced from it have been popular for many reasons: they are reasonably priced, readily available worldwide, tough and durable, and, above all, they can be engineered to produce an enormous variety and range of fabrics and products. Yet, as the sustainability agenda grows in significance, many experts point to the substantial fault lines in the polyester equation. It’s made from oil, a non-renewable resource. It isn’t bio-degradable, and will be with us for 300 years in landfills. It’s production is energy greedy, with power stations built to supply the electricity required by its production plants. It’s production currently causes large scale local pollution, and importantly its bi-products are dispersed into the water table of producing countries which pollute the environment. Polyester also sheds microfibres – tiny micro-beads of plastic – which are released from the fibres with which they are spun, leading to pollution of the planet’s water systems. Beads released during the washing cycle and decaying polyester landfill waste all lead to ongoing ocean contamination with trillions of microbeads. The largest pollutent factor is land fill; it takes 300-500 years for polyester to degrade (not bio-degrade). Care must be taken here to understand that the fabric eventually breaks down into microbeads and, as such, these disperse into the water table as trillions of microbeads which get smaller and smaller over time to become microscopic, but nevertheless ever present, over hundreds of years. As such they are then ingested by marine life and even micro-organisms, and can now be found at the very depths of the world’s deepest oceans in the sediment of the ocean floor. Yet, amid all this gloom and doom, there is some light at the end of the tunnel. Polyester is recyclable and, utilising new technologies, the re-purposing of polyester is about to become big business. This is good news for the fashion industry who could potentially be able to choose to use only recycled polyester by 2030. There are many emerging technologies that enable polyester recycling but none that can currently recycle the massive volume of worldwide waste, or create the mountain of fibre needed to truly replace the virgin polyester fibre currently utilised by the greedy fashion industry. Some of the new technologies (which use varied applications) and new science will become scalable and, as such, over the next five years we will see a new industry emerge to regenerate usable fibres from the garments and waste that we discard. In more good news, it’s now also possible to split the blends (alternate fibres) that are spun into many polyester fabrics. Cotton and polyester are probably the most commonly known partners and, using new science that splits the fibres at a molecular level, it’s now possible to recycle to recover both components. Its also important to note that the technology utilised for re-cycling must be sustainable and profitable if it is to be adopted globally. It has to use green energy and non-toxic chemicals if it is to be truly sustainable. The fashion industry consumes billions of metres of fabric per year, and the newly recycled polyester yarns will also have to be competitively priced if they are to be adopted by the world’s mills and fashion brands. Most of the development of new recycling technologies is currently in the East and yet most of the waste is in the West; this poses a problem for the industry and one that has to be resolved on a local basis. As an industry we are moving into new era and a generation of Circular Design. We must re-pupose the products we create and, in doing so, continue to provide the world with a viable fashion industry. We must re-fashion fashion and together control the supply chain and its components, from design through to production, and onto retail in a sustainable format. Our consumers increasingly demand transparency and a successful fashion brand must deliver.

Source: Yarn and fibre

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Pakistan: Govt set to extend Rs600b subsidised loan to textile sector

With a view to increase the investment in the textile sector and broaden the industrial base of the said sector, the government is set to extend subsidised loan credit to textile sector up to Rs600 billion under the Export Financing Scheme (EFS) and Long Term Financing Facility (LTFF). Under Export Financing Scheme (EFS), the government is to increase credit limit to Rs400 billion from Rs226 billion for textile exports and enhance the limit of Long Term Financing Facility (LTFF) to Rs200 billion from existing Rs103 billion for investment in the textile sector. The loan credit under the EFS will be available at subsidised mark-up of 03 percent and under LTFF at 05 percent. "Yes, we have prepared the summary for ECC (Economic Coordination Committee) seeking the credit limits under EFS and LTFF not only to increase the textile products’ export, but also enhance the investment in textile sector,’’ a senior official at textile sector told The News. The textile exporters, the official said, have started feeling the heat as the share of subsidised credit limit has dwindled to 27 percent from 41 percent in a year and the textile sector has been relying heavily on commercial loans at the discount rate of 10.25 percent that has been jacked up from 5.75 percent. The investment in the textile sector by borrowing the loans from commercial banks at interest rate of 10.25 percent is simply quite impossible which is why the authorities in the textile ministry have decided to suggest to ECC seeking the increase in the credit limits to textile exporters at subsidised interest rates of 3-5 percent under EFS and LTFF. More importantly, during the last 13 months, Rupee has devalued by 35 percent against the US dollar, which is why cost of financing for textile project has substantially increased along with the requirement of working capital and in the last 5 years’ time, the import of textile machinery remained almost stagnant. And to this effect, textile ministry, he said, is all set to submit the summary to ECC asking for the surge in loans’ limit to textile sector under EFS up to Rs400 billion from current loan credit of Rs200 billion for increasing the exports. ‘’Likewise, for more investment in the sector, the ministry is going to propose to ECC to increase the LTFF limit up to Rs200 billion from current Rs102 billion.’’ In addition, the textile ministry, the official said, is also set to recommend the increase in project financing limit top Rs03 billion from existing Rs1.5 billion. ‘’This will not only help cover the financing cost but also to encourage the large scale plants having edge in the economies of scales.’’ It is pertinent to mention that State Bank of Pakistan (SBP) has since long been operating two vital schemes, including Long Term Financing Facility, for investment in plants and machinery and Export Financing Schemes (EFS) to provide the working capital. Both the schemes are export oriented and for the availability of credit to the textile exporters. According to the document prepared for the ECC, the total exposure of textile value chain by December 2018 stood at Rs1.000 trillion in which the Long Term Financing Facility stays at Rs112 billion and loans under Export Financing Scheme is Rs226 billion. The official document also unfolds saying that by December 2017, total loan exposure stood at Rs816 billion in which LTFF was Rs87 billion and EFS was Rs187 billion. The share of subsidised loan has decreased to 27 percent from 41 percent in a year and the textile sector has been relying heavily on commercial loans, and the discount rate has hacked up to 10.25 percent from 5.75 percent during the said period. The sitting government has already done a lot to decrease the input cost for export oriented industry by providing the electricity at 7.5 US cents per unit and system gas at Rs600 per MMBTU and Re-gasified LNG at $6.5 per MMBTU.

Source: The News

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Malaysia's exports grow 3.1 pct in January

Malaysia's exports grew 3.1 percent year-on-year to 85.41 billion ringgit (20.97 billion U.S. dollars) in January as exports to China remained steady, official data showed Monday. The Malaysian International Trade and Industry Ministry said in a statement that Malaysia's trade in January expanded by 2.1 percent year-on-year to 159.3 billion ringgit, underpinned by the expansion in trade with China, Saudi Arabia, South Korea, Thailand, the United Arab Emirates and the United States. Its imports increased by 1 percent to 73.89 billion ringgit, resulting in a trade surplus of 11.52 billion ringgit. Export expansion for the month was driven mainly by growth in manufacturing and mining sectors, according to the statement. Exports of manufactured goods rose 2.9 percent year-on-year, mainly driven by electrical and electronic products exports which expanded 8.2 percent. This was followed by chemicals and chemical products which was up 16.7 percent; jewelry that surged 90.8 percent; optical and scientific equipment that rose 7.1 percent; textiles, apparels and footwear which jumped 10.7 percent, as well as wood products that rose 5.6 percent. Mining goods exports surged 23.5 percent year-on-year, supported by higher liquefied natural gas (LNG) shipment. Exports of agriculture goods slumped 13.6 percent, mainly dragged by lower palm oil and palm oil-based agriculture products exports. In January, Malaysia's trade with China rose 14.1 percent to 28.92 billion ringgit, with exports growing 9.1 percent to 11.02 billion ringgit, while imports surging 17.5 percent to 17.9 billion ringgit. The increase in exports was supported by higher exports of LNG, chemicals and chemical products, palm oil and palm oil-based agriculture products, petroleum products, as well as metalliferous ores and metal scrap. Major imports from China were E&E products, machinery, equipment and parts, petroleum products, as well as chemicals and chemical products. "As expected, gross exports growth off to a weak start in January, indicating weak global demand. Lower commodity prices, including crude oil prices compared to a year ago also dampened export earnings from palm oil and petroleum products," the Socio-Economic Research Centre's executive director Lee Heng Guie told Xinhua. Overall, he expected Malaysia's exports to grow by 3 percent to 4 percent this year, as lingering concerns on the world trade conflicts remain, weak global growth and commodity prices would continue to challenge this year's exports momentum.

Source: Xinhua

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EU-Vietnam Free Trade Agreement And Investment Protection Agreement – Market Access For Goods And Services – What You Must Know:

OVERVIEW

On the 2nd of December 2015, after almost three years and 14 rounds of negotiations, President Donald Tusk, President Jean-Claude Juncker and Prime Minister of Vietnam Nguyễn Tấn Dũng announced the conclusion of the negotiations of the EU-Vietnam Free Trade Agreement (EVFTA). The EVFTA is a new-generation Free Trade Agreement between Vietnam and the EU. On 17 October 2018 the European Commission submitted to the Council the proposals for signature and conclusion of two agreements: the EVFTA and the EU–Vietnam Investment Protection Agreement (IPA) The EVFTA needs to be approved by the Council and ratified by the European Parliament, while the IPA must be additionally ratified by the Parliament of each EU member country. Both the EVFTA and EVIPA are said to bring the best advantages and benefits ever for enterprises, employees, and consumers in both the EU and Vietnam. Vietnam's GDP is expected to increase by 10-15 per cent and exports are predicted to rise by 30-40 per cent in the next 10 years. Meanwhile, the real wages of skilled laborer's could rise up to 12 per cent, while the real salaries of common workers could increase 13 per cent.1 Once the EVFTA is ratified and implemented, and once Government policies and institutional reforms begin to take effect, Vietnam's business activities will boom.

I. LEGAL ENVIRONMENT

(A). GENERAL MARKET ACCESS FOR GOODS AND SERVICES

The EVFTA is the most comprehensive and ambitious trade and investment agreement that the EU has ever concluded with a developing country in Asia. It is the second agreement in the ASEAN region, after Singapore, and it will intensify bilateral relations between Vietnam and the EU. Vietnam will have access to a potential market of more than 500 million people and a total GDP of US$15,000 billion (accounting for 22 per cent of global GDP).2 Meanwhile, exporters and investors from the EU will have further opportunities to access one of the largest and fastest-growing countries in the region. According to a report released in early 2017 covering 134 cities worldwide,3 Hanoi and Ho Chi Minh City are ranked among the top 10 most dynamic cities due to their low costs, rapid consumer market expansion, strong population growth and transition towards activities attracting significant amounts of Foreign Direct Investment (FDI). Statistics show that the total implemented FDI in the first eleven months of 2018 reached US$16.5 billion, increasing 3.1 per cent compared with the same period the previous year. Vietnam's GDP growth in 2017 was 6.81 per cent, and 7.08 per cent in first 6 months of 2018 – a 10-year record. In addition, Vietnam has the fastest-growing middle class in the region. It is predicted to almost double in size between 2014 and 2020 (from 12 million to 33 million people).4 Vietnam's super-rich population is also growing faster than anywhere else, and there is no doubt that it will continue to rise over the next ten years.

Market access for goods

Nearly all customs duties – over 99 per cent of the tariff lines – will be eliminated. The small remaining number will be partially liberalised through duty-free quotas. As Vietnam is a developing country, it will liberalise 65 per cent of the value of EU exports to Vietnam, representing around half of the tariff lines, at entry into force. The remaining duties will be eliminated over the next ten years. This is an unprecedented, far-reaching tariff elimination for a country like Vietnam, proving its aspiration for deeper integration and trading relations with the EU. Meanwhile, the EU agreed to eliminate duties for 84 per cent of the tariff lines for goods imported from Vietnam immediately at the entry into force of the FTA. Within 7 years from the effective date of the FTA, more than 99 per cent of the tariff lines will have been eliminated for Vietnam. This is a wider reduction compared with the 95 per cent of the tariff lines that the former TPP countries offer to Vietnamese imports. In the ASEAN region, Vietnam is the top country exporting goods to the EU. However, the market share of Vietnam's products in the EU is still small. As a result of the EVFTA, the sectors set to benefit most are main export sectors that used to be subject to high tariffs from the EU including textiles, footwear, and agricultural products. The EU is also a good point for Vietnam to reach other further markets. Vietnam will benefit more from the EVFTA compared with other FTAs, since Vietnam and the EU are considered to be two supporting and complementary markets: Vietnam exports goods that the EU cannot or does not produce itself (i.e., fishery products, tropical fruits, etc.) while the products imported from the EU are also those Vietnam does not produce domestically, including machinery, aircrafts and pharmaceutical products. With better market access for goods from the EU, Vietnamese enterprises could source EU materials, technology, and equipment at a better quality and price. This, in turn, will improve their own product quality and ease Vietnam's burden of over-reliance on its other main trading partners.  The EVFTA is considered as a template for the EU to further conclude FTAs with different countries in the ASEAN region with the aim of concluding a region to region FTA once there is a sufficient critical mass of FTAs with individual ASEAN countries.5 This process could take between 10-15 years. Thus, Vietnam should take advantage of this window of opportunity before FTAs with others in the region are concluded and take effect to become a regional hub.

Market access for EU service providers

Although Vietnam's World Trade Organisation (WTO) commitments are used as a basis for the services commitments, Vietnam has not only opened additional (sub) sectors for EU service providers, but also made commitments deeper than those outlined in the WTO, offering the EU the best possible access to Vietnam's market. (Sub) sectors that are not committed under the WTO, but under which Vietnam has made commitments, include: Interdisciplinary Research & Development (R&D) services; nursing services, physiotherapists and para-medical personnel; packaging services; trade fairs and exhibitions services and building-cleaning services. When these services reach international standards, Vietnam has a chance to export high-quality services, resulting in not only an increase in export value but also export efficiency, thus helping to improve the trade balance.

Government procurement

Vietnam has one of the highest ratios of public investment-to-GDP in the world (39 per cent annually from 1995). However, until now, Vietnam has not agreed to its Government procurement being covered by the Government Procurement Agreement (GPA) of the WTO. Now, for the first time, Vietnam has undertaken to do so in the EVFTA. The FTA commitments on Government procurement mainly deal with the requirement to treat EU bidders, or domestic bidders with EU investment capital, equally with Vietnamese bidders when the Government purchases goods or requests a service worth over the specified threshold. Vietnam undertakes to follow the general principles of National Treatment and Non-discrimination. It will publish information on intended procurement and post-award information in Báo Đấu Thầu – Public Procurement Newspaper, and on information on procurement system at muasamcong.mpi.gov.vn and the official gazette in a timely manner, allow sufficient time for suppliers to prepare for and submit requests for participation and responsive tenders and maintain the confidentiality of tenders.6 The FTA also requires its Parties to assess bids based on fair and objective principles, evaluate and award bids only based on criteria set out in notices and tender documentation and create an effective regime for complaints and settling disputes.7 These rules require Parties to ensure that their bidding procedures match the commitments and protect their own interests, thus helping Vietnam to solve its problem of bids being won by cheap but low-quality service providers. Government procurement of goods or services, or any combination thereof, that satisfy the following criteria falls within the scope of the FTA Government Procurement rules:

Criteria

Investment Dispute Settlement

This is now covered in the IPA. In disputes regarding investment (for example, expropriation without compensation or discrimination of investment), an investor is allowed to bring the dispute to the Investment Tribunal for settlement. To ensure the fairness and independence of the dispute settlement, a permanent Tribunal will be comprised of 9 members: 3 nationals each appointed from the EU and Vietnam, together with 3 nationals appointed from third countries. Cases will be heard by a 3-member Tribunal selected by the Chairman of the Tribunal in a random and unpredictable way. This is also to ensure consistent rulings in similar cases, thus making the dispute settlement more predictable. The IPA also allows a sole Tribunal member where the claimant is a small or medium-sized enterprise or the compensation of damaged claims is relatively low. This is a flexible approach considering that Vietnam is still a developing country. In case either of the disputing parties disagrees with the decision of the Tribunal, it can appeal it to the Appeal Tribunal. While this is different from the common arbitration proceeding, it is quite similar to the 2-level dispute settlement mechanism in the WTO (Panel and Appellate Body). We believe that this mechanism could save time and cost for the whole proceedings. The final settlement is binding and enforceable from the local courts regarding its validity, except for a five-year period following the entry into force of the FTA for Vietnam (please refer to further comments in the Chapter on Judicial Recourse).

Conclusion

The EVFTA, once ratified, will create sustainable growth, mutual benefits in several sectors and be an effective tool to balance trade relations between the EU and Vietnam. Vietnam is working hard to meet the high standards set out in the FTA, and is currently offering greater opportunities for foreign businesses in preparation for the FTA's finalisation. It is now time for foreign investors to start their business plans and grasp the upcoming clear opportunities.

Source: Mondaq.com

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First scalable graphene yarns for wearable textiles produced

A team of researchers led by Dr. Nazmul Karim and Prof Sir Kostya Novoselov at The University of Manchester have developed a method to produce scalable graphene-based yarn. Multi-functional wearable e-textiles have been a focus of much attention due to their great potential for healthcare, sportswear, fitness and aerospace applications. Graphene has been considered a potentially good material for these types of applications due to its high conductivity, and flexibility. Every atom in graphene is exposed to its environment allowing it to sense changes in its surroundings, making it an ideal material for sensors. Smart wearable textiles have experienced a renaissance in recent years through the innovation and miniaturisation and wireless revolution. There has been efforts to integrate textile-based sensors into garments, however current manufacturing processes are complex and time consuming, expensive, and the materials used are non-biodegradable and use unstable metallic conductive materials. As published in ACS Nano, the process developed by the team based at the National Graphene Institute has the potential produce tonnes of conductive graphene-based yarn, using existing textile machineries and without adding to production costs. In addition to producing the yarn in large quantities, they are washable, flexible, inexpensive and biodegradable. Such sensors could be integrated to either a self-powered RFID or low-powered Bluetooth to send data wirelessly to mobile device. One hindrance to the advancement of wearable e-textiles has been the bulky components required to power them. Previously it has also been difficult to incorporate these components without compromising the properties or comfort of the material, which has seen the rise of personal smart devices such as fitness watches. The lead author Dr. Shaila Afroj, who carried out the project during her Ph.D., said " To introduce a new exciting material such as graphene to a very traditional and well established textile industry, the greatest challenge is the scalability of the manufacturing process. Here we overcome this challenge by producing graphene materials and graphene-based textiles using a rapid and ultrafast production process. Our reported technology to produce thousand kilograms of graphene-based yarn in an hour is a significant breakthrough for the textile industry." Dr. Nazmul Karim, The other lead author and Knowledge Exchange Fellow (Graphene) from the National Graphene Institute said "High performance clothing is going through a transformation currently, thanks to recent innovations in textiles. There has been growing interests from the textile community into utilizing excellent and multifunctional properties of graphene for smart and functional clothing applications." "We believe our ultrafast production process for graphene-based textiles would be an important step towards realizing next generation high performance clothing."

Source: Physics.org

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Ghanaian importers are pushing for the use of Chinese Yuan to reduce FX pressures

  • The Ghana cedi has been depreciating freely and steadily against the dollar.
  • This is worrying since the Ghanaian business community especially importers trade in dollars.
  • The business community have therefore suggested the introduction of the Chinese Yuan as a major currency in Ghana.

The Ghanaian business community is advocating for the introduction of the Chinese Yuan as a major trading currency in Ghana to reduce pressures on the Foreign Exchange (FX) market. According to business owners especially importers, this will ensure that the dollar is under little or no pressure in order to slow down the cedi’s depreciation against the US currency. An Executive Member of the Ghana Union of Traders Association (GUTA) Benjamin Yeboah told Accra-based Citi FM said “Whatever steps that can be taken so that we don’t have to depend on the dollar so much has to be taken. I don’t see why we should be wasting that much time if there is a possibility in using it.” He said the government must start discussions with the Chinese government in that regard. In a related development, the Importers and Exporters Association have called on the Bank of Ghana to make the Chinese Yuan more accessible. “It is important if the Ghanaian government allows the Yuan to be used by people who go to the Chinese market to buy,” President of the Association, Samson Asaki Awingobit said. China is Ghana’s second largest trading partner after Europe. According to the statistics from the Trade Ministry Ghana imports items worth over 2 billion dollars every year. These items include textiles, machinery, vegetable oil, plastics, and chemical products. This means that the importers have to change millions of cedis into dollars to enable them to pay their manufacturers and suppliers in China, increasing the demand for the dollar. Despite this call, an Economist at the University of Ghana, Dr. Ebo Turkson said using the Chinese Yuan is not the only measure to address the situation. “The Bank of Ghana can make sure that their counterparts in China can make free transfer of resources so the traders can easily transfer funds without having to change the money into dollars physically in Ghana before sending it.” He was of the view that changing millions of cedis into Yuan and making it accessible on the Ghanaian Market is not the best option.

Source: Pulse.com

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Teijin to display at Intertextile Shanghai Apparel Fabrics

The Teijin Group has announced that Nantong Teijin, the group’s textile manufacturing and sales company based in Nantong, China, will participate in Intertextile Shanghai Apparel Fabrics – Spring Edition 2019, in booth 8-1H-C68. The leading exhibition for apparel fabric and accessories will be held at NECC, in Shanghai from March 12-14, 2019. The Nantong Teijin booth will showcase proprietary materials and high-performance fabrics to further expand its presence in the Chinese market widely from sports to fashion, as well as strengthen relationships with existing customers. Approximately 100 materials and 40 final products will be exhibited, according to Teijin.The exhibit will feature Microft, a moisture-permeable, water-repellent fabric produced with functional, high-quality microfibre. The exhibit will highlight the laminated version, which combines soft texture with enhanced waterproof properties resisting water pressure of 10,000 mm or greater.The booth will also present Solotex, polytrimethylene terephthalate fibre that is soft, stretchable, shape-retaining and dimensionally stable owing to its spring-like molecular structure, as well as producing deep and rich colour.

Source: Fibre2Fashion

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