|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1195.56 |
RMB/Ton |
0.68% |
3/3/2015 |
|
VSF |
1841.94 |
RMB/Ton |
0.44% |
3/3/2015 |
|
ASF |
2587.95 |
RMB/Ton |
0% |
3/3/2015 |
|
Polyester POY |
1198.80 |
RMB/Ton |
0% |
3/3/2015 |
|
Nylon FDY |
2948.40 |
RMB/Ton |
0% |
3/3/2015 |
|
40D Spandex |
7452.00 |
RMB/Ton |
0% |
3/3/2015 |
|
Nylon DTY |
5705.64 |
RMB/Ton |
0.06% |
3/3/2015 |
|
Viscose Long Filament |
1466.10 |
RMB/Ton |
0% |
3/3/2015 |
|
Polyester DTY |
2673.00 |
RMB/Ton |
0% |
3/3/2015 |
|
Nylon POY |
2737.80 |
RMB/Ton |
0% |
3/3/2015 |
|
Acrylic Top 3D |
1409.40 |
RMB/Ton |
0% |
3/3/2015 |
|
Polyester FDY |
3240.00 |
RMB/Ton |
1.01% |
3/3/2015 |
|
30S Spun Rayon Yarn |
2543.40 |
RMB/Ton |
0.64% |
3/3/2015 |
|
32S Polyester Yarn |
1879.20 |
RMB/Ton |
0.87% |
3/3/2015 |
|
45S T/C Yarn |
2867.40 |
RMB/Ton |
0% |
3/3/2015 |
|
45S Polyester Yarn |
2689.20 |
RMB/Ton |
0% |
3/3/2015 |
|
T/C Yarn 65/35 32S |
2592.00 |
RMB/Ton |
0% |
3/3/2015 |
|
40S Rayon Yarn |
2025.00 |
RMB/Ton |
0.81% |
3/3/2015 |
|
T/R Yarn 65/35 32S |
2478.60 |
RMB/Ton |
0% |
3/3/2015 |
|
10S Denim Fabric |
1.58 |
RMB/Meter |
0% |
3/3/2015 |
|
32S Twill Fabric |
0.99 |
RMB/Meter |
0% |
3/3/2015 |
|
40S Combed Poplin |
1.34 |
RMB/Meter |
0% |
3/3/2015 |
|
30S Rayon Fabric |
0.72 |
RMB/Meter |
0% |
3/3/2015 |
|
45S T/C Fabric |
0.78 |
RMB/Meter |
0% |
3/3/2015 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.16200 USD dtd. 03/03/2015)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
Punjab cotton ginners, traders and farmers upset over not getting big-ticket investment and technology upgradation for textiles in Malwa region. As Narendra Modi , while addressing a Lok Sabha election rally on April 25, 2014 had promised to take care of farmers of Malwa and cotton traders. He had suggested the '5Fs' formula - farm to fibre to fabric to fashion and fashion to foreign - to revive cotton exports if NDA was voted to power.
During the interim Budget presented by Arun Jaitley on July 10, 2014, Punjab was left out while announcing eight textiles mega clusters at Varanasi, Bareilly, Lucknow, Surat, Kutch, Bhagalpur, Mysore and Tamil Nadu with an investment of Rs 200 crore. However, Malwa region's cotton farmers and traders were hopeful that the Centre would fulfill its promise in the current Budget but once again disappointed. According to Punjab Cotton Factories and Ginners Association president Bhagwan Das Bansal, the current government has done nothing to provide any relief to cotton textile industry. They were expecting a textile park in Malwa region, but the finance minister has paid no heed to formulating a policy to promote textiles. It is very disheartening.
If the NDA government is serious about helping the cotton growers and traders of Malwa region, it should make efforts to prevail upon Pakistan to open Hussainiwala border for trade so that the fibre could be exported to the neighbours without any trouble. Around 3,000 bales of cotton are being sent almost daily to Karachi through Wagah border, which is far away for Malwa traders. If export of cotton is allowed from the Hussainiwala border it could save us lot of money.
Farmer Gurmail Singh said that they were very hopeful of getting a market to sell the fibre prepared from cotton grown by Malwa farmers but there is no such proposal. The finance minister should have kept in mind the promise made by Modi and should have taken care of Punjab farmers as a lot of dreams were sold before Lok Sabha elections to the cotton growers and all those had crashed. Demanding that the Centre should take steps to promote the textile firms in the state, the local industrialists have demanded that Pakistan should be prevailed upon to allow cotton exports Hussainiwala border post.
SOURCE: Yarns&Fibers
Aditya Birla Group has decided to put its viscose staple fibre plant project in Turkey on hold as the viscose market has been in a state of turmoil and the returns are lower, according to Manohar Samuel, Global Business Development, Birla Cellulose. The Turkey project is on but has been delayed because of the capacity overhang in China. Though demand for VSF continues to grow globally, the overcapacity in China, created at the time of the VSF boom, has put pressure on realizations in the global markets. It has resulted in global prices declining by around 15 percent.
Announced in December 2011, the plant was to be the first VSF production facility in Turkey, and the investment to the tune of $510 million (around Rs.3,000 crore) was aimed at supporting the growth of its textile industry. VSF, a raw material used for making home textiles and apparels. While the facility was to address Turkey’s domestic demand, it would also have the potential to export about 20 percent to the European Union and other neighbouring countries.
Incidentally, the surplus VSF capacity in China, which has proved to be a major overhang on margins, has also stalled expansion projects of other stalwart VSF players. End of December 2014, Austria based Lenzing Group, too, decided to abstain from any new capacity expansion projects until market conditions improved. Lenzing Group and Aditya Birla Group are two global viscose fibre giants, and had reportedly gained capacity of above 800,000 tonnes a year each in 2013. Turkey is the fourth largest consumer of viscose in the world, and its Adana Organised Industrial Zone was to host the Indian plant with an annual capacity of 180,000 tonnes.
SOURCE: Yarns&Fibers
Chinese companies are keen to participate in the 'Make in India' campaign and establish manufacturing facilities here, China's Ambassador Le Yucheng has said. "Certainly, (Chinese companies are interested in setting up manufacturing facilities in India). We are closely following the project of 'Make in India' initiated by Prime Minister Narendra Modi. "Chinese companies are expressing keen interest in participating in this project, Yucheng told PTI.
"China is known as the world's factory and India is known as the world's office. So if the factory and office combine and make joint efforts it will make a huge difference. "I'm sure that the companies of both countries will have very good opportunities to join hands and to promote cooperation, especially promote manufacturing in India. I am very optimistic about this prospect," he added.
The Ambassador further said that Chinese investments here will help address India's concern of mounting trade deficit. "Sure (it will help bridge trade deficit). With Chinese investment coming to India, it will produce many products. So, you won't need to import products from China. So, it will certainly help address the trade imbalance," Yucheng said. Prime Minister Narendra Modi is slated to visit China in May this year.
India's trade deficit with China rose to a whopping $37.8 billion last year even as bilateral trade picked up, totalling $70.59 billion, a year-on-year increase of 7.9 per cent. According to annual figures released by China's General Administration of Customs ( GAC), the total trade volume went up to $70.59 billion from last year's $65.57, an increase of $5.02 billion amid increasing Chinese exports to India. Besides, a MoU was signed here between the State Owned Assets Supervision and Administration Commission of Tianjin and industry body CII.
SOURCE: The Economic Times
Union Budget 2015-16 presented by finance minister Arun Jaitley last week has no measures on promoting apparel manufacturing in India, says an expert of India’s clothing and retail industry. “Considering that this (Budget) is meant to be a ‘Make in India’ Budget, what is disappointing is that there are no measures for encouraging or promoting apparel manufacturing or retail. Apparel is the highest employer after agriculture, and I would have liked to see some encouragement being provided to this sector,” said Rahul Mehta, managing director, Creative Lifestyle, in a statement.
Mehta said it was a great relief to see that the finance minister maintained the status quo on the Optional Route of Excise Duty on Branded Apparel. “Any change on this would have led to a serious blow to an Industry already facing a slow down,” he said. “It is good to see the reaffirmation of the GST coming in force from April 2016, although we still do not know the exact rates/slabs for the same,” said Mehta. However, he added that the increase in service tax to 14 per cent will again push up the prices to a small extent.
SOURCE: Fibre2fashion
India would like to work with Pakistan to help the South Asian Association of Regional Cooperation (SAARC) achieve its potential. This message was conveyed at a meeting between Foreign Secretary S Jaishankar and his Pakistani counterpart Aizaz Chaudhry, in Islamabad, on Tuesday. This is the first official meeting between the foreign secretaries of the neighbours since August last year. Talks between the two countries were called off with India expressing anger over a meeting last year between the Pakistani High Commissioner in India and Kashmiri separatist leaders ahead of a scheduled interaction of the two foreign secretaries.
SAARC Yatra
Jaishankar is in Pakistan as part of a tour of SAARC member countries. The decision to send the foreign secretary on the regional tour was announced by Prime Minister Narendra Modi on February 14 after he telephonically spoke with the presidents of Sri Lanka and Afghanistan and the prime ministers of Pakistan and Bangladesh. “I conveyed the expectations of our leadership on SAARC and their determination to forge a cooperative relationship with all our neighbours. We discussed ideas and initiatives to take SAARC forward,” Jaishankar said after his meeting with Chaudhry.
He added that his visit had provided an opportunity to discuss bilateral relations. “We engaged on each other’s concerns and interests in an open manner. We agreed to work together to find common ground and narrow differences. I reiterated our known concerns on cross-border terrorism, including on the Mumbai case,” he said.
SOURCE: The Hindu Business Line
India’s economy needs to reach an annual growth rate of 9 per cent to 10 per cent and then sustain that activity “many, many more years than 10 years” in order to improve infrastructure and bring down rampant poverty, Finance Minister Arun Jaitley said here on Tuesday. “We need resources and I can’t get resources until I grow by 9 to 10 per cent. And therefore, I would like to see India grow by that rate for the next 10 years,” Jaitley said in response to a question following an impromptu speech at the Columbia University’s School of International and Public Affairs.
Jaitley, in New York on a private trip just two days after presenting the Budget that focused on boosting growth before taking on structural reforms, said he realises that to achieve this goal, the $2 trillion South Asian economy needs to find investment from outside. “I have no doubt about the fact that the investment available within the country is very modest. Even our banks' ability to finance that is modest, and, therefore, we need it from wherever it is available,” he said.
The new Budget is the first full-year Budget since Prime Minister Narendra Modi's landslide election victory last May. It promised higher investment in India’s decrepit roads and railways, while offering the carrot of tax cuts to global companies but the stick of tighter rules to get business tycoons to invest at home rather than stash wealth abroad. India’s economy is forecast to accelerate to 8-8.5 per cent growth in the fiscal year starting in April, up from 7.4 per cent this year. Jaitley used China as the example of what high growth rates can do over a decades-long period. He said that if the country could reach 8 per cent growth and then boost that to the 9-10 per cent range, “we will have substantially created a better infrastructure and brought down poverty rates at a faster pace.”
SOURCE: The Business Standard
Even as India and the United States prepare to forge deeper ties, the future of their economic partnership remains fragile, and accomplishing the goals set during President Barack Obama's visit to India in January may be a tall order. Bilateral trade between the two countries has slowed despite good-faith gestures by Obama and Indian Prime Minister Narendra Modi that point to warming relations between the two counties. Obama is the first US president to have been the chief guest at India's Republic Day function. The visit, which was rich in symbolism, also saw the two countries hammering out important issues concerning trade and investment, including ways to make doing business easier for American firms in India.
India and the US have decided to take the two-way trade in goods and services to $500 billion by 2020 from $100 billion now. If recent trends are anything to go by, the target may be difficult to achieve. Total merchandise trade between India and the US rose by a sluggish 0.47 per cent in 2013-2014, in contrast to 25 to 30 per cent between 2007-08 and 2011-12. For long, the US has held that India's intellectual property rights (IPR) regime is not conducive to supporting growth in trade. And it remains steadfast in its stand. Earlier this month, the US Chamber of Commerce's Global Intellectual Property Centre (GIPC) released its third annual international IP index, in which India was ranked 29th of the 30 countries surveyed for having a poor IPR regime. "We want the Indian government to not make compulsory licences (in the case of pharmaceuticals) an easy approach for commercial purposes and that they should be invoked only on emergencies," said Patrick Kilbride, executive director, GIPC.
Furthermore, GIPC has asked the Office of US Trade Representative (USTR) not to change India's designation as a 'Priority Watch List' country, a designation given by USTR to the worst IPR offenders of the world. "There has been no improvement on the policy front in India. So we do not think there should be a change in the designation," Kilbride added. What, according to GIPC, also acts against India is that it is neither a signatory to any of the international treaties on IPR nor does it have a free-trade agreement with a country with significant IP provisions. The government had announced that it would roll out the National IPR Policy by early 2015, but it has only managed to bring out a draft policy so far. Officials in the department of industrial policy and promotion, which is in-charge of drafting the policy, say the government is collating comments on the policy and will unveil it soon.
Till that happens, trade between the two counties is unlikely to gather momentum. "While India's failure to provide adequate and effective intellectual property protection disadvantages the US industry, it also harms India by stifling its own economic development," says Brian Pomper of the US-based Alliance for Fair Trade with India (AFTI). Apart from India's patent regime, the US also objects to India's subsidy programme for its farmers. America's wheat industry has accused India of offering export subsidies, even though they are illegal under its WTO commitments. "Increasing support levels give Indian farmers an artificial incentive to produce more wheat," says the US Wheat Associates. "In fact, India's wheat production increased 35 per cent over seven years from 2005-06. That buoyed world wheat supplies and increased pressure on prices that hurt farmers in other countries."
With no conciliatory announcements in the Budget, the standoff continues. The government "failed to make any bold announcement on the transfer pricing issue and GAAR," says an American executive in India who does not want to be named. In defence too, the US has been pushing the Indian government to increase the foreign direct investment limit beyond the current 49 per cent if it wants transfer of technology. "India has to undertake some quick reforms if it wants American investments. It will not be easy to improve its ranking in the World Bank's Ease of Doing Business report. Only if that happens will the US businesses will sit up and take notice," says Sanjay Puri, founder and chairman, US India Political Action Committee.
SOURCE: The Business Standard
At the 7th meeting of National Assembly Standing Committee on Textile Industry was held on Monday, PSDP Budgetary proposals worth Rs 69.370 billion was given approval after a detailed discussion for the year 2015-16. Also Faisalabad Garment city phase 2 worth Rs598.5 million, Faisalabad Garment City Training Centre costing Rs60 million, Karachi garment city phase 1, amounting Rs805.119 million, were discussed in detail.
The committee also talked about monitoring and management of BT resistance in cotton boll worms project, costing Rs59.822 million , cotton as relay crop in standing wheat for enhancing productivity of cotton and wheat crop estimated at Rs17.190 million, development of management strategies for red and dusky cotton bugs, a Rs 59.928 million project and implementation of cotton standardization system for the production of high quality standardized clean cotton under Prime Minister’s skill development programme. The project costs around Rs75.160 million.
The continuations of ongoing projects, which are included in PSDP 2014-2015, were also discussed. Pak-Korea Garment Technology Training Institute Karachi, strengthening of National Textile University Research Centre, strengthening of research and development Cell, Skill Development Programme for Informal Textile Industry, are running projects which were approved after discussion. Parliamentarian Abdul Rasheed Godel drew attention towards increasing raw cotton export and demand for duty on imported yarn. He also came up with the suggestion of establishing sales offices in Dubai and South Africa. The minister textile industry proposed that Pakistan textile city Karachi must be an agenda item in the next meeting, so that the issues related to the much delayed project can be addressed as soon as possible as the project would provide employment to over 50,000 people. The federal minister for textile industry Abbas Khan Afridi stated that raw cotton export results in competitive advantage for other countries such as Bangladesh and negatively impacts their exports. Value-addition is norm of the day and must be encouraged.
SOURCE: Yarns&Fibers
The steeply devaluating Euro has added to the woes political unrest stricken Bangladeshi apparel exporter community. “It’s a double whammy for us,” said Atiqul Islam, President, BGMEA. The Eurozone is the largest export destination for Bangladesh, with 60 per cent, or more than US $ 14 billion, of garment items being shipped to the region every year. In September last year, each euro traded for Tk 110, but now it is trading at Tk 87, which is almost a 21 per cent decline in value. Hence the exporters are receiving less after currency conversion for the goods they shipped a few months ago.
SOURCE: The Apparel Resources
Galashiels is set to become the home of a new Scottish Centre of Textiles however plans for the centre are still in the early stages. First on the list is to create a Scottish National Archive, which would house both historic and contemporary designs. The industry has been through a difficult period, with many of the traditional mills closing with the loss of hundreds of jobs.
The people behind the project have spent many years campaigning for the centre to be based in the Borders, worldwide known for producing high quality textiles. The centre will work closely with Heriot-Watt University who run their School of Textile and Design from the Scottish Borders College base in Galashiels. The aim is to have a clear route for students to follow once they begin their course, and they will also be able to use the national archive as a source of inspiration.
However, during the past year there has been a bit of resurgence, with a number of new initiatives aimed at encouraging young people into the industry. Johnsons of Elgin, based in Hawick, also opened a new training centre and hired a number of young apprentices. The next step for the project leaders is to put together a business plan, before looking for funding. Other plans for the textile centre could include a manufacturing base, a cafe and a museum.
SOURCE: Yarns&Fibers
Strong trade link between Britain and Mexico likely to boost up textile industry of Yorkshire, as, trade between the UK and Mexico is enjoying double-digit growth, with bilateral trade in 2013 totaling £3.3bn, an increase of 15 percent on the year before, according to UK Trade & Investment. Mexico is the UK’s fourth largest market for goods exports, and the UK is Mexico’s fifth largest inward investor. Mexico is the UK’s second largest trading partner in Latin America.
A host of major British brands hope to cash in on ties that are due to be established by a state visit to the UK from the Mexican president, Enrique Pena Nieto, this week. In 2013, Hackett London revealed that it was sourcing textiles from Yorkshire for a new fundraising product range for The Prince’s Trust. The Prince of Wales collection features a new version of the iconic grey and blue check cloth in a range of garments and accessories. The collection uses cloth sourced from mills such as Fox Brothers, Lovat and Bradford-based William Halstead.
Business Secretary Vince Cable said that Mexico is an important growth market for their exports and British firms can also use Mexico as a base for wider operations throughout Latin America. British exports to Mexico are expected to receive a further boost from the memorandum of understanding (MOU) signed between UK Export Finance and PEMEX, Mexico’s state-run fuel conglomerate to secure a line of credit of up to $1bn. This finance is intended to be used by PEMEX and its subsidiaries to buy services from UK exporters, including SMEs.
Alongside the commercial announcements, the Government has also confirmed that a Mutual Recognition of Qualifications Treaty between the UK and Mexico will be signed to support higher education collaboration and create opportunities for research and innovation. A programme is being staged throughout the year to celebrate the best of the arts and creative industries in both countries. These include the English National Ballet performing at the Palacio de Bellas Artes, and the London Philharmonic Orchestra performing in Mexico under the direction of Mexican conductor Alondra de la Parra.
SOURCE: Yarns&Fibers
Swedish fashion retailer Lindex said it has banned the use of perfluorinated compounds (PFCs) in all the garments they sell. The fashion retailer has been phasing out PFCs since 2012 as a part of its efforts to reduce the use of hazardous chemicals. “Lindex has already banned 16 phthalates starting with DEHP, BIBP, DBP and BBP and the use of PVC and APEO in their production,” it said in a press release.
“To eliminate all doubts about content of the water repellant finishes, the most successful way has been to nominate chemical brands that can provide us with that,” Agneta Häll, quality standard manager at Lindex said. She added, “So far we have started cooperation with one chemical brand, the Rudolf Group that can provide and guarantee us a PFC free finish.” The cooperation with the Rudolf Group first began in 2012 when Lindex started using the fluorocarbon-free water-repellant finishing Bionic-Finish Eco in their outerwear range for kids.
“Lindex and Rudolf Group checks the production processes together and organises clarifying discussions between all involved parties including suppliers and textile mills,” said Sabine Jahn, pull marketing manager at Rudolf. Today, Bionic-Finish Eco is used as finish in Lindex’s entire outerwear range and its next goal is to ensure that its suppliers completely phase out the use of PFCs, even for other brands. “We are proud to be one of the first fashion brands to have banned and phased out PFCs and it is great to see other brands too are following and we look forward to see it become industry standard,” Hall noted.
SOURCE: Fibre2fashion
Fashion Remake, an exhibition sponsored by the Camera Nazionale della Moda Italiana is showcasing sustainable fashion clothing. The 30 garments and accessories from six young fashion designers, graduates of IED Moda Milan have been designed and created with fabrics from recycled PET. These clothing have been created from Newlife fabrics, a range of textiles which are 100 per cent made in Italy and certified with yarns produced recycled used PET bottles. While, the accessories have been created and made with the 3D printer Ekocycle Cube, which uses a filament, made from recycled plastic bottles.
The fabrics come from partners of C.L.A.S.S. platform like Borgini Jersey, GruppoCinque for fabrics, Lanfranchi for the zippers and Miroglio Textile with E.Volution for smart prints, all made from Newlife. The “Fashion Remake” Oscar was awarded to Martina Maggiorelli of Florence, who interpreted the theme and the values of the world’s fair. After having graduated from the Institute of Art, she decided to deepen her passion for abstract art at the IED in Milan. “It has been a very intense and important experience working together with other designers and I am very excited to have won the award,” says Martina.
Martina was inspired by Martin Margiela, Belgian fashion designer who boasts collaborations with Lady Gaga, Simona Ventura and Renzo Rosso. The future designer’s favourite colours are on one hand, the contrast of black and white and on the other, the delicacy of pastel colours that she will use in her creations. The Newlife fabrics were provided by C.L.A.S.S. an international multi-platform network and the only one of its kind, offering fabrics and exclusive materials created using the most sustainable technologies. C.L.A.S.S. is a 360° initiative that offers overall product development, specialised in a new way of understanding luxury fashion through the creation of innovative and sustainable design solutions.
SOURCE: Fibre2fashion
Indonesian government is planning to apply existing tax allowances to labour-intensive industries that include garment industry in an effort to reach its 2-million-a-year job-creation target. However, at the moment the allowance applies to just 129 business sectors, ranging from plantations to real estate. Investment Coordinating Board (BKPM) deputy chairman Azhar Lubis after a meeting with industry officials said that they really need the investment in the labour [-intensive] industries, including garment, footwear and furniture. If they don't give [a tax allowance] to them, they [investors] may relocate to other countries.
In 2012 a tax policy was enacted that slashed taxable income to 30 per cent of overall investment realised over six years; sped-up depreciation and amortisation; charged an income tax of up to 10 per cent for offshore taxpayers; and carried forward losses from five years to 10 years. The industry ministry's director-general for base manufacturing industries, Harjanto, said that the tax allowance should be made more accessible to downstream industries ineligible under the current system. At present, for example, the tax accommodation applies to textile businesses, but excludes the garment industry. They may require greater flexibility as their new orientation is to absorb labour.
The labour-intensive industry covers firms that employ at least 200 workers and whose labor costs account for 15 percent of total production costs; they include manufacturers of textiles and garment, food and beverages, tobacco, leather and leather products, footwear, toys and furniture. Harjanto added that in addition to the tax allowance, his office has proposed a restitution of taxes for firms in export-oriented industries to encourage them to use locally sourced raw materials. Such an incentive would be needed to entice investment in the industrial sector, where there is stiff regional competition.
Investment in labour-intensive industries trended upward between 2010 to 2014, rising by between 20 and 40 percent annually, with 1,528 projects realized in 2014 making up 15 per cent of total domestic and foreign direct investment. However, industrial growth did not trigger increased labour absorption, which raised concerns among policymakers; in fact the number of workers in the labour-intensive industry tumbled, falling from 337,305 workers in 2011 to 203,732 workers last year.
SOURCE: Yarns&Fibers
The 25th East China Fair 2015, a prestigious and preferred exhibition that attracts hundred and thousands of exhibitors and visitors of national and international fashion, gifting, and home furnishing business community opened on 1st March at the Shanghai New International Expo Center in the Pudong New Area. The fair will go on till Thursday, 5th March. Companies taking part in the East China Fair are targeting the higher-end market to be more competitive but the still-weak global economy and sluggish demand loom large in their strategic planning.
Irma Sun, research and development director at Shartex International Trading Co, a textile and clothes maker at the fair, said that to be competitive, they have to transform to a higher-end market. Although they are in a traditional industry, they use a lot of technology in their production. Shartex has partnered with Japanese technology firm Toray to produce absorbent-dry and ultraviolet-cut clothes. It has also teamed up with Swarovski to make accessories for clothes. To respond quickly to market demand and become a custom-made producer of clothes, Shartex uses digital printing in its production to beef up its added value.
Although China can now offer upgraded products and the weakening yuan is in the interest of Chinese exporters, traders at the fair said that they are cautiously optimistic about the export outlook this year due to uncertainties in external demand. Josie Peng, general manager of Dongyang Jirong Plastic Industrial Co, a company making environment-friendly and recycled bags for markets including Japan, South Korea and the European Union sadi that they hope to expand into more markets but the global economy may remain weak and constrain the demand.
The East China fair is supported by Ministry of Commerce of the People's Republic of China and co-sponsored by 6 provinces and 3 cities. The total exhibition area is of 115, 000 sqm with 5,780 standard booths thereby allowing to showcase a variety of products on a large parameter. The product range encompasses Home Textiles, Fashion Garments, Home Furnishing Products, Art Deco Gifts, and other Consumer Goods. Within 5 days, the show will welcome around 21,400 international business visitors and 14,000 Chinese counterparts. These visitors are going to engage in developing strong trade relation with more than 3441 exhibitors from 10 countries and regions including Mainland China, Taiwan, Hong Kong, Japan, South Korea, Malaysia, Iran, Columbia, Nepal, Western Samoa.
SOURCE: Yarns&Fibers
