|
Item |
Price |
Unit |
Fluctuation |
|
PSF |
1158.34 |
USD/Ton |
-0.97% |
|
VSF |
1847.17 |
USD/Ton |
0% |
|
ASF |
2436.90 |
USD/Ton |
0% |
|
Polyester POY |
1185.96 |
USD/Ton |
0% |
|
Nylon FDY |
2973.02 |
USD/Ton |
0.55% |
|
40D Spandex |
6904.55 |
USD/Ton |
0% |
|
Nylon DTY |
2761.82 |
USD/Ton |
1.19% |
|
Viscose Long Filament |
1470.26 |
USD/Ton |
0% |
|
Polyester DTY |
5726.72 |
USD/Ton |
0% |
|
Nylon POY |
2583.11 |
USD/Ton |
0% |
|
Acrylic Top 3D |
3281.69 |
USD/Ton |
0.50% |
|
Polyester FDY |
1405.28 |
USD/Ton |
0% |
|
30S Spun Rayon Yarn |
2566.87 |
USD/Ton |
0% |
|
32S Polyester Yarn |
1868.29 |
USD/Ton |
-0.86% |
|
45S T/C Yarn |
2875.54 |
USD/Ton |
0% |
|
45S Polyester Yarn |
2599.36 |
USD/Ton |
0% |
|
T/C Yarn 65/35 32S |
2696.84 |
USD/Ton |
0% |
|
40S Rayon Yarn |
2485.64 |
USD/Ton |
0% |
|
T/R Yarn 65/35 32S |
2030.75 |
USD/Ton |
0% |
|
10S Denim Fabric |
1.14 |
USD/Meter |
0% |
|
32S Twill Fabric |
0.99 |
USD/Meter |
0% |
|
40S Combed Poplin |
1.35 |
USD/Meter |
0% |
|
30S Rayon Fabric |
0.76 |
USD/Meter |
0% |
|
45S T/C Fabric |
0.79 |
USD/Meter |
0% |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.16246 USD dtd. 18/03/2015)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
For the development of textile industry in the state, Maharashtra finance minister Sudhir Mungantiwar proposed an outlay of Rs 59.66 crore in his Budget speech for the year 2015-16 towards interest subsidy of 5 to 7 per cent on long term loan of the eligible textile industrial units in the state under the Textile Policy. Mungantiwar also proposed an outlay of Rs 28 crore towards 10 per cent capital subsidy on the long term loan of eligible textile industrial units in Vidarbha, Marathwada and North Maharashtra.
“For the regular scheme of power subsidy to power looms an outlay of Rs 1232.53 crore is proposed,” the minister said. The minister also proposed to start a new Industrial Cluster Development scheme to boost development of industrially backward areas. For this, an outlay of Rs 26.50 crore is proposed in the year 2015-16. The government has launched a unique programme called ‘Make in Maharashtra’ with an objective of retaining the premium position of the state in industrial development and economic progress of the state.
“Under the ‘Make in Maharashtra’ programme, the investors who are willing to invest in the State will benefit by simplified and easier procedures while obtaining various permissions to start an industry thereby reducing the time required to complete various procedures,” the minister said.
SOURCE: Fibre2fashion
Maharashtra today announced Local Body Tax (LBT) would be abolished from August 1 and extended tax exemption on essential commodities like rice and wheat in Budget 2015-16. As regards LBT, a compensation of Rs 6,875 crore will be given to the municipal corporations, excluding Mumbai. This was one of the main electoral promises of the Bharatiya Janata Party (BJP). The loss of revenue would be compensated by enhancing the rate of tax under VAT which will be applicable to the whole state, Maharashtra Finance Minister Sudhir Mungantiwar told the Assembly while presenting his maiden budget in the state Legislature here.
A revenue neutral rate has been recommended considering the share of increased tax collection to be given to the areas where LBT is not levied, he said adding that extensive deliberations are required on enhancement of tax rates under VAT. The Mumbai municipal corporation gets substantial revenue by levying octroi on crude oil. The octroi amount is collected by oil companies as part of the state specific duty from all consumes in the state. This aspect is also required to be taken into account, the minister said. The total plan size of the state is Rs 54,999 crore and the budget estimates for 2015-16 are Rs 1,98,230.50 crore. As per the estimates, the revenue deficit would be Rs 3,757.40 crore.
Mungantiwar, who presented a surplus budget of Rs 107.10 crore, also announced tax proposals which are estimated to result in net revenue gain of Rs 643 crore, which has been incorporated in the budget estimates of 2015-16. He proposed a levy of 5 per cent entry tax on long steel, 12.5 per cent tax on all types of wood-free plain and pre-laminated particle boards. He also announced extension of tax exemption on essential commodities like rice, wheat, pulses and their flour, turmeric, chillies, tamarind, jaggery, coconut, dates, Solapuri chadars and towels upto March 31, 2016.
The tax exemption on currants and raisins as well as 5 per cent tax on tea will also continue till March 31, 2016. The Minister said that women drawing salary upto Rs 10,000 per month will not have to pay professional tax. This will benefit nearly 1.5 lakh women in the state. He also proposed to reduce sales tax on ladies’ purse and handbags from 12.5 per cent to 5 per cent. Besides, work books, graph books, drawing books and laboratory books for students have been made tax-free. The rate of excise duty on country liquor would now be 200 per cent of the manufacturing cost or Rs 120 per proof litre, whichever is higher.
Certain medicines required for treatment of cancer will also be exempted from tax and a list of such drugs would be notified separately. Mungantiwar also proposed to reduce tax on guide wire required for medical treatment and LED bulbs from 12.5 per cent to 5 per cent. Mungantiwar said new automation project for sales tax has been started which will help business and the sales tax department in further simplification of procedures. All the processes envisaged under the GST are being incorporated in the new software system under development, so it will make hassle-free migration of data of existing tax payer to the new GST system. He also announced enhancing premium on additional FSI which will result in substantial revenue gains.
The minister said the government has promised to enhance the FSI limit from 0.33 to 0.60 and increase the rate of premium in Brihanmumbai Municipal Corporation limit. It is also under consideration of the government to enhance the rate of premium on grant on all kinds of FSI. These gains in FSI will benefit individuals, but the government does not get benefit of revenue increase in the same proportion. These amendments are proposed to ensure legitimate share of revenue for the government from overall benefits accruing to the beneficiaries of the FSI without burdening the common man, he said. The government intends to grant timely permissions, simplify procedures and charge legitimate premium on additional benefits.
As part of the amendments in the Maharashtra Value Added Tax Act, there will be no VAT on service tax and late fee for VAT return will be reduced from Rs 2,000 to Rs 1,000. Similarly, multiple revised returns in case of audit findings or investigation proceedings by sales tax authorities would be allowed. Assessment can be initiated if there is reason to believe that the tax payer is not correctly discharging tax liability or is attempting to evade tax on any transaction. The Finance Minister also proposed to introduce time limit for completion of transaction-wise assessment and also provide for cancellation of order, if it is done ex-parte. Computation of interest in case of a revised return filed for a period less than a year is also proposed. After the High Court approves merger or demerger of companies, a period of 30 days will be specified for making an application for registration from the date of notification by the registrar of companies, he added.
SOURCE: The Financial Express
K.K. Birla Group flagship company Sutlej Textile and Industries Ltd has got approval from its Board of Directors to acquire another group company, Birla Textile Mills, which is a unit of Chambal Fertilisers and Chemicals Ltd located at Baddi in Himachal Pradesh, on the basis of a slump sale. Slump sale is the transfer or sale of one or more undertakings for a lump sum where no values are assigned to individual assets and liabilities.
According to the filing, the Board of Directors took this decision at their meeting held on March 14 and the transaction is subject to requisite approvals. The parties are currently negotiating and finalizing the terms of the business purchase and transfer agreement and the other related transaction documents, and shall sign these documents as soon as there is consensus. The transaction is subject to requisite approvals, the company said.
The plant of Birla Textile Mills in Himachal Pradesh has a total installed capacity of 40,320 spindles, while another 40,000 spindles were added in 2006, extending the total to 83,320, according to the company’s website. Birla Textile mills started its commercial production in May 2000. Sutlej Textiles and Industries was incorporated in June 2005 out of a corporate restructuring exercise of Sutlej Industries Ltd and DamanGanga Processors Ltd. It has 260,872 spindles for spinning yarn, six million metres a year for apparel fabrics, 1.6 million trousers a year and 3 million metres a year for home textiles fabric. It has plants in Jammu and Kashmir, Rajasthan and Gujarat.
SOURCE: The CCF Group
Days after IMF chief Christine Lagarde described India as a "bright spot" on cloudy global horizon, the Organisation for Economic Cooperation and Development (OECD) has said the country is expected to become the fastest-growing major economy over the next two years. In its 'Interim Economic Assessment', the OECD has forecast Indian economy will grow 7.7% in 2015 and 8% in 2016. China is pegged to grow at 7% in both these years, even as the world economy is forecast to do moderately better than expected a few months ago. "The Indian economy is set to perform strongly, if key challenges can be overcome," the Paris-based think tank said on Wednesday.
"India is now expected to be the fastest-growing major economy in 2015-16, overtaking China," it said, even as it warned that obstacles are emerging to reforms in the country. In its previous assessment, in November 2014, the OECD had forecast 6.4% growth in 2015 and 6.6% in 2016. Part of the upward revision is due to revamp in India's GDP numbers that has bumped up growth from what was earlier estimated under the factor cost method.
The new numbers follow the internationally accepted market prices based system of estimating GDP and showed that the economy expanded 6.9% in 2013-14, compared to 4.7% estimated under the earlier method. "Part of this relative improvement reflects significant revisions to past GDP data, which raise the base growth rate through 2014," the OECD said. India's own assessment is that the economy will grow between 8.1% and 8.5% in 2015-16. The statistics office has pegged the rate of growth in the current year at 7.5%.
The OECD said that the recovery is actually slower than anticipated earlier. "The projected acceleration in growth this year is actually smaller than foreseen in the November 2014 Economic Outlook, reflecting sluggish growth of investment and exports," it said. The report also carried a warning on the pace of reforms, echoing frustration voiced by some business leaders over the lack of progress on the ground.
"With obstacles emerging to the adoption of growth-friendly structural reforms, maintaining rapid growth will pose a difficult challenge, notwithstanding the strong current momentum," it said. The low oil prices and monetary easing are providing support to global growth, the OECD said. "Lower oil prices and widespread monetary easing have brought the world economy to a turning point, with the potential for the acceleration of growth that has been needed in many countries," said OECD chief economist Catherine L Mann. Strong domestic demand in the United States is also benefiting other countries. The OECD projects the US will grow 3.1% in the current year and 3% in 2016. The report warned that excessive reliance on monetary policy to prop up growth is creating financial risks without yet reviving business investment. "A more balanced policy approach is needed, making full use of fiscal and structural reforms, as well as monetary policy, to ensure sustainable growth and public finances over the longer term," it said.
SOURCE: The Economic Times
India and Cuba will seek to engage in the pharma and public transport sectors during a rare high-level political visit from the Caribbean country in the last four decades. Cuban first vice-president Miguel Diaz-Canel’s trip, starting next week, assumes importance in the light of the West lifting long-standing sanctions imposed on the country. As the $121-bn Cuban economy opens up, it gives India an opportunity to further push its business interests beyond Latin America to the Caribbean.
During the trip, Diaz-Canel will meet Prime Minister Narendra Modi and other senior officials. On the agenda is expediting a bilateral investment treaty and cooperation in sectors of India’s interest, such as pharmaceuticals, automobiles and science and technology. A senior Indian diplomat said: “This is the right time for India to step in and take advantage of the huge opportunities that are opening up in that country with a population of over 11 million.”
In Cuba — as in much of Latin America — India is trying to at least hold on to, if not expand, its influence at a time China has emerged a key investor, donor and trade partner. The 33-member Community of Latin American and Caribbean States (CELAC), of which Cuba is an integral part, wants to boost economic ties with BRICS nations. During a recent Delhi visit, Cuban foreign minister Bruno Rodríguez Parrilla said: “We wish to seek a higher level of economic cooperation with India and other BRICS nations.” Parrilla said Cuba and other CELAC members had considerable amount of expertise and resources to offer to Indian companies in the pharmaceutical sector.
During Diaz-Canel’s visit, the Modi government plans to resurrect a proposal of gifting Cuba 25 buses for public transport in Havana. The plan had fallen through due to US sanctions, as Tata buses have American components. The plan was to gift 25 buses and then another 200 to Cuba. The personal role of President Fidel Castro in forging the India-Cuba alliance is well known. The image of Cuban leader Fidel Castro in a bear-hug with then Prime Minister Indira Gandhi in 1983, while handing over the NAM chairmanship to her in 1983, had become iconic. But in a world where international affairs are ruled increasingly by pragmatism, the challenge for New Delhi is whether it can build on the goodwill of a historic alliance, based largely on an increasingly irrelevant ideology, and craft a new partnership for a new world.
SOURCE: The Financial Express
India’s foreign exchange reserves, at an all-time high currently, are still far off from pre-crisis adequacy levels, which, perhaps, is the reason the Reserve Bank of India’s dollar purchases are not slowing down. Forex reserves were at $338 billion as of February 27, up $43.7 billion from a year ago on the back of aggressive dollar buying by the central bank. The RBI’s dollar purchase in January was $12.14 billion, the highest monthly buy in seven years. Dealers said the central bank has been buying dollars even in February and March albeit the frequency has slowed.
The adequacy of reserves is gauged mainly through their import cover which is the extent of import payments the reserves can meet at a given point in time. A cover of minimum three months is considered essential for stability. Forex reserves at the current level offer an import cover of 11 months, an improvement from an import cover of around 7 months in the last one year. However, this coverage is yet to reach pre-crisis levels of 14 months in March 2008.
The cover has increased due to a rise in reserves as well as a simultaneous fall in the country’s merchandise imports. Imports have shrunk, simply due to a fall in the global oil prices that have already started climbing up again. Imports fell 15.66% to $28.39 in February and the Indian crude oil basket price averaged around $59 during that month. Economists say that since adequacy is a judgment call, RBI could be playing it cautious as a possible reversal of dollar flows becomes a plausible threat in the near future. “We believe the reserves should accumulate to $370 billion,” said Shubada Rao, chief economist at YES Bank. Following a meeting with the finance minister, RBI governor Raghuram Rajan, on Wednesday, said the country’s forex reserves are “significant” and, therefore, the RBI is prepared for any major dollar outflows.
With the US Federal Reserve expected to tighten monetary policy, analysts are forecasting dollar outflows from emerging market economies including India. On Tuesday, the International Monetary Fund had warned that the emerging market economies should prepare for greater volatility in markets as the Fed readies to tighten its policy. “It is very difficult to say what level of reserves is adequate. But one can never rest easy over reserves. We also need to see reserves in relation to external debt and capital flows,” said Saugata Bhattacharya, chief economist at Axis Bank.
SOURCE: The Financial Express
The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 51.46 per barrel (bbl) on 18.03.2015. This was higher than the price of US$ 51.42 per bbl on previous publishing day of 17.03.2015.
In rupee terms, the price of Indian Basket increased to Rs 3225.00 per bbl on 18.03.2015 as compared to Rs 3223.52 per bbl on 17.03.2015. Rupee closed stronger at Rs 62.67 per US$ on 18.03.2015 as against Rs 62.69 per US$ on 17.03.2015.
The table below gives details in this regard:
|
Particulars |
Unit |
Price on March 18, 2015 (Previous trading day i.e. 17.03.2015) |
Pricing Fortnight for 16.03.2015 (Feb 26 to Mar 11, 2015) |
|
Crude Oil (Indian Basket) |
($/bbl) |
51.46 (51.42) |
58.21 |
|
(Rs/bbl |
3225.00 (3223.52) |
3618.92 |
|
|
Exchange Rate |
(Rs/$) |
62.67 (62.69) |
62.17 |
SOURCE: PIB
Today the President is announcing nearly $500 million in public-private investment to strengthen American manufacturing by investing in cutting-edge technologies through a new, textiles-focused manufacturing institute competition led by the Department of Defense, and by sharpening the capabilities of small manufacturers through Manufacturing Extension Partnership competitions in twelve states. The White House, as detailed in a new report, is also launching a Supply Chain Innovation Initiative focused on building public-private partnerships to strengthen the small U.S. manufacturers that anchor the nation’s supply chains.
The President’s Fiscal Year 2016 Budget, to create jobs and strengthen America’s leadership in advanced manufacturing technology, provides the resources to double the number of manufacturing innovation institutes nationwide to 16 by the end of 2016 and fulfills the President’s goal of building a network of up to 45 institutes over the decade. In contrast, the House Republican Budget released yesterday entrenches the harmful sequester levels of funding and proposes to eliminate the Manufacturing Extension Partnership, putting at risk critical investments in advanced manufacturing, workforce development and training, and innovation proposed in the President’s Budget.
After a decade of decline in the 2000s when 40 percent of all large factories closed their doors, American manufacturing is adding jobs at its fastest rate in decades, with 877,000 new manufacturing jobs created since February 2010. Ohio alone has added nearly 70,000 manufacturing jobs over that period. Manufacturing production is up by almost a third since the recession and the number of factories manufacturing across the United States is growing for the first time since the 1990s. In addition to announcing new competitions for nearly $500 million in public and private investment the President is calling on Congress to do its part to make the bipartisan investments needed to strengthen manufacturing across the United States, including in places like Ohio.
Investing Nearly $500 Million to Strengthen U.S. Advanced Manufacturing:
SOURCE: The White House
Representatives of nine top Myanmar based apparel factories went to Paris and Berlin last month in order to get a better understanding of European markets and European buyers’ requirements. “The participants were able to gain insights into the multilayered European textile market by visiting two major garment and textile trade shows located in Paris and Berlin,” SMART Myanmar said on its website. “The trade fairs gave them the chance to establish new business contacts as suppliers and to start practice dialogue with Asian and European partners,” Smart Myanmar added. At the same time, visiting the fairs provided the participants with highly needed sourcing knowledge as a high number of Asian exhibitors were present with their products like fabrics and accessories.
The Myanmar garment manufacturers said they wished to add more value to their garment production by moving from the so called Cut Make Pack (CMP) business model to the higher margin Free On Board (FOB) production. Through a systematic analysis of European shops, ranging from low level to high level price range, the entrepreneurs extended their knowledge on characteristics of the European market conditions. A key event of the trip was an intensive dialogue with German buyers during a B2B meeting organised jointly with German Fashion Confederation and the Confederation of the German Fashion and Textile Industry.
In Paris, the main points on the agenda were shop and product analysis as well as the visit of one of the world’s major trade fairs in the textile sector, Tex World. Giovanni Beatrice, Dutch garment expert held an introductory session where he provided the group with a tool for shop and product analysis as well as a tool for efficient price enquiries regarding suppliers. During their visit of TexWorld, the delegation had the chance to speak both to buyers and to suppliers. During the analysis sessions about the garment products being sold in Paris shops, they visited and analysed more than 30 shops in Paris.
In Berlin, the participants visited the trade fair, Asia Apparel. Here, they received a good overview about their competitors from China, Bangladesh and other Asian countries. Like in Paris, product as well as shop analyses were conducted in Berlin and they compared shops ranging from C&A to Louis Vuitton, had a look at alternative shop concepts like TK Maxx. The delegates also met with SMART Myanmar’s project director, Simone Lehmann in order to continue work on the Code of Conduct of Myanmar garment factories. Both in Paris and Berlin, it emerged that Myanmar companies have a good reputation and that buyer companies start considering Myanmar as an alternative to countries like China and Bangladesh. “Myanmar is not only offering comparably cheap labour, but has also made considerable progress in its reforms of relevant laws that set conditions for doing business in Myanmar,” SMART Myanmar informed.
SOURCE: Fibre2fashion
Thailand’s Indorama Ventures Public Company Limited (IVL) informed on Wednesday that its subsidiary Indorama Petrochem Limited, Thailand has signed a definitive share purchase agreement with Bangkok Cable Company, Limited, a major shareholder, to acquire 94.91 percent equity stake in polyethylene terephthalate (PET) polymers maker Bangkok Polyester Public Company Limited (BPC), Thailand.
Bangkok Polyester is a producer of PET polymers in Rayong, Thailand, with an annual capacity of 105,000 tons. The transaction, subject to customary approval, is expected to be completed in the second quarter of 2015. IVL’s PET segment accounts for half of the company’s overall production. As of end-2014, its PET capacity stood at 3.1m tonnes, up 7% from 2.9m tonnes in 2013. In February, IVL had said that it will shell out a total of $2.2bn in capital expenditures over three years (2015-2018)– $1.9bn for growth and $300m on maintenance. The capex will be funded through a combination of cash flow and debt.
The company has announced $600m worth of projects that it will invest on, with additional projects worth $900m “under active discussions”, it said in the notes accompanying its full-year financial results. If all the projects are completed this year, IVL said that they should boost the company’s capacity by a quarter. Among IVL’s acquisitions that will be completed this year is Polyplex Turkey – the Thai firm’s second plant acquisition in the European country.
The deal, expected to close in the first quarter of 2015, will bring Indorama’s capacity in Turkey to 382,000 tonnes/year, following its acquisition of the 130,000 tonnes/year Artenius Turkpet PET plant last year. In December 2014, IVL had signed a definitive agreement to fully acquire Performance Fibers Asia (PF Asia), which producres 41,000 tonnes/year of polyester tyre cord frabic and 48,000 tonnes/year of polyester tyre cord yarn in China's Guangdong province.
SOURCE: Yarns&Fibers
At the time when Zimbabwean clothing sector is facing stiff competition from cheap imports that have flooded the market, making locally manufactured clothing uncompetitive. The government has granted a one-year rebate to the clothing and textile industry which will allow 52 manufacturers to import textile materials duty-free. Rebate is an amount paid by way of reduction, return, or refund on what has already been paid or contributed.
The Ministry of Finance granted a one-year reprieve ending December 2015 as part of efforts to boost the operations of local producers, according to statutory Instrument 32 of 2015 cited as Customs and Excise (Clothing manufacturer) rebate Regulations gazetted on March 6 2015. These regulations may be cited as the Customs and Excise Clothing Manufacturer Rebate Regulations 2015. These regulations shall be deemed to have come into effect on January 1 2015 and shall be valid for a period of twelve months to December 31 2015.
Treasury said that the rebate duty shall be granted on material referred to in the second schedule imported or taken out of bond by a manufacturer for use in the manufacture of clothing. Materials eligible for the rebate include cotton sewing thread containing 85% or more by weight of cotton, cotton sewing thread, denim, plain weave weighing more than 100g per square metre, sewing thread of man-made staple fibres, not put up for retail sale, woven fabrics of polyester staple fibres, chenille fabrics, tulles and other net fabrics.
Companies that will qualify to import raw materials under the rebate include Archer Clothing, James North Zimbabwe, Enbee Stores and Carousel (Private) Limited among others. Last year, government in partnership with the private sector launched the cotton-to-clothing strategy as part of efforts to revive the sector. The textile and clothing industry at its peak used to employ at least 35 000, but the figure has since plunged to about 8 000 due to a number of problems bedevilling the industry.
SOURCE: Yarns&Fibers
Australia's biggest-ever bilateral trade deal is set to grow much bigger, with China agreeing to a special ratchet clause that will ensure that future benefits conferred to other countries will flow automatically to Australia. The much-coveted "most favoured nation" provisions in the China-Australia Free Trade Agreement have been kept under wraps at the request of Chinese negotiators, who were pursuing a parallel deal with South Korea.
Trade Minister Andrew Robb confirmed the MFN provisions in an interview with Fairfax Media. "This is huge, I think," said Mr Robb. "It means that we will automatically receive the same treatment provided by China to any other country in the future including the EU and the United States." Australian negotiators, analysts and industry bodies were surprised at the range of liberalisation commitments that China committed to during President Xi Jinping's visit to Canberra in November. The full text, which will not be released until later this year, will include unprecedented commitments over a range of service sectors, including education and financial services.
Some China analysts speculated that Mr Xi may have been using the Australia trade deal as a lever to liberalise his own economy, which is starting to strain under the weight of bad debts and rash investments. The previously unreported MFN mechanisms take the deal to another level. Australian negotiators are most enthused by potential MFN gains on the investment side. The "prize" will be a special "negative list" feature that China looks set to provide the US under a bilateral investment treaty, which would greatly increase the range of Australian investment opportunities. Similarly, Australian fund managers could potentially gain majority ownership rights in Chinese counterpart firms, up from a ceiling of 49 per cent in the existing FTA, if the US manages to get what it is seeking. "This MFN clause was something we had long sought but didn't really believe we could get," said Geoff Raby, the former ambassador to China who had been involved with negotiations for a decade before stepping down to take on corporate directorships and advisory roles. "It is a big achievement by Robb and the team to have secured this." Mr Robb told Fairfax Media the MFN provisions would apply to investment and services chapters. He said a separate review mechanism had been built into the "goods" provisions, which would apply three years after the agreement entered into force and then every five years thereafter. "On most fronts, if not all, those will be protected, locked in, in the future when China make concessions with other countries," Mr Robb said. "Overall this means we have substantially [greater] preferential arrangements than any other trading partner."
Dr Raby, a director of Fortescue, said there had been considerable political resistance on both sides when he first floated the idea of a China trade deal to his ministers in 2003, when the Howard government was concluding a trade deal with the US. He said Chinese officials had been been anxious that they had paid too high a price for accession to the World Trade Organisation and Australians were unhappy at having to grant China "market economy" status even before negotiations had begun. "It was the first time a developed country had engaged China on this idea," he said. Dr Raby said the MFN provisions would be particularly important for investors because China was negotiating an ambitious bilateral investment agreement with the US. "It is extremely valuable as it preserves our position as China negotiates other FTAs so the benefits which we have 'paid' for in the negotiations can't be whittled away," Dr Raby said.
The chief executive of the Business Council of Australia, Jennifer Westacott, said the MFN deal would keep Australia "on a level playing field with key competitors for valuable trade with what is the growth engine of the world". "This opens the door to deep access to Chinese markets and a greater capacity to further diversify the Australian economy," she said. Former Austrade chief economist Tim Harcourt agreed that the China deal had surpassed expectations but also warned that great challenges lay ahead in the implementation. "At the end of the day it's the internal decisions you have to deal with in China, where so much is determined by administrative fiat," said Dr Harcourt, now a lecturer and researcher in the MBA program at the University of NSW. "FTA or no FTA, you still have to have those connections to get your deal up," he said. "You've got to have the [Chinese Communist Party's] blessing right down through the ranks."
SOURCE: The Sydney Morning Herald
China will kick off negotiations on a proposed free trade agreement with Israel this year, the country's Ministry of Commerce said Tuesday. Israel is China's major economic and trade partner in the Middle East and along the route of China-proposed "belt and road" initiative, the ministry's spokesman Shen Danyang said at a press conference. The two sides have completed a feasibility study of the FTA "with a positive outlook," he said, adding it will lift bilateral cooperation to a new height. Bilateral trade has increased notably since the two countries established diplomatic ties in 1992. China is now Israel's third largest trade partner and the largest in Asia
SOURCE: The China Times
According to the Minister of Agrarian Policy and Food of Ukraine Alexey Pavlenko, Ukraine plans to sign the FTA with Canada, Israel, Turkey, Serbia, and Vietnam. The Minister stated, the necessity of the free trade agreement signing is explained by the partial loss of the CIS countries markets. Thus in 2014 Ukraine decreased exports to the CIS countries by 31%. Meanwhile the country increased supplies to the Asian countries (+10%), EU (+6%) and Africa (+1%). Thus China is one of the most powerful and prospective market, so they are now negotiation on the trade conditions. Besides there are other large-scale players of the agrarian market being interested in the cooperation with Ukraine. The ones are Albania, Egypt, Jordan, Korea Republic, and Tunisia.
SOURCE: The FinChannel
Korea Federation of Textile Industries (Chairman Sung Ki Hak) is conducting a 'Preview in China 2015' at the China International Clothing & Accessories Fair (CHIC), the largest and most influential fashion fair in the Asia-Pacific region at which over 1000 brands from 23 countries and regions are to be exhibited, attracting more than 115,000 visitors and buyers. ‘Preview in CHINA’ opens about 200 booths for 20 Korean textile and apparel companies to exhibit Korean men's, women’s and children’s wear including Casual, Fashion Accessories, etc., to support Korean firms to successfully enter into the Chinese market.
As the bellwether of the Chinese garment industry, CHIC is constantly innovating and adjusting its overall layout, style, and functions based on changing industrial and marketing demands. On the basis of the existing 8 sections of Men's Wear, Casual & Sports, Women's Wear, Kids' Wear, Leather/Fur & Down Wear, Fashion Accessories, Fashion Related Resources and Overseas Pavilions, four brand-new areas, which include In Signature, Future Link, Impulses, and Superior Factory will also be brought out in CHIC2015. The event is sponsored by the Ministry of Knowledge Economy (MKE), China National Textile and Apparel Council, and China National Garment Association, the Korea Federation of Textile Industries prepares Exhibition, Press Conference, Fashion Shows, Seminars and Biz-meetings to discover new distribution channels into the north Chinese market and beyond for the Korean textile and apparel industries.
An official for the Korea Federation of Textile Industries said that they expect this fashion fair to accelerate Korean firms to settle in to address Chinese domestic market optimizing opportunities created by the Korea-China FTA. The 23rd China International Fashion Fair (CHIC2015) will be held for the first time in the newly-built National Exhibition and Conventional Center, which covers 100,000 square meters located in the Shanghai Hongqiao Business Area from March 18th to 20th.
SOURCE: Yarns&Fibers
A new generation of silver-based antimicrobial treatments for textiles, utilising unique delivery systems, is poised to usher us into what one might call the era of Odour Control 2.0. Silver inhibits the growth of odour-causing bacteria on textiles through the release of silver ions (Ag+), which break down the cell walls of microbes and interfere with their normal metabolic processes; but the efficacy, durability, safety, and environmental effects of silver treatments can vary widely. Despite silver’s established history as a safe and natural antimicrobial, many of the current technologies have fallen short.
Surprisingly, silver-based technologies had only a 9% share of antimicrobial textile treatments in 2004, growing to 25% in 2011, according to a 2013 study entitled Comparative Evaluation of Antimicrobials for Textile Applications, authored by Windler, Height, and Nowack and published by Elsevier in the online journal Environment International. The new, non-nano silver-based technologies have been engineered for improved ease of handling and durability, utilising silver salts from recycled silver products, or molecular ionic silver.
Started in 2009, PurThread® is a yarn-based technology that permanently embeds a silver salt into synthetic fibres, demonstrating a high degree of efficacy that outlasts 100 industrial washings. Dow SILVADUR™, launched in 2012, is a technology that delivers silver ions in a liquid topical treatment, forming an acrylic-based polymer throughout the textile that provides a consistent and homogenous dose of antimicrobial odour control through 50 washings, using a low level of silver.
Brands weigh the pros and cons
The confusing claims and lack of a standardized testing protocol for textile antimicrobial treatments have made it difficult for retailers, brands, and textile manufacturers to choose among the competing technologies. With sustainability and transparency top of mind, some of the major athletic and performance apparel brands have simply stayed away from the technology entirely. On the other hand, a surprising number of brands and retailers simply ask for the cheapest available antimicrobial formulation that will survive 10 – 20 home washes, according to several textile manufacturers, who declined to be quoted.
Other brands take a more thoughtful approach. With its impeccable eco credentials, Patagonia’s endorsement of silver salt-based Polygiene®, made in Sweden, carries some weight. Made from recycled silver, the Polygiene technology is also highly regarded among European brands. While global outdoor brand Columbia declined to reveal its specifications for choosing its antimicrobial technologies, Scott Trepanier, senior manager for PR and promotions, noted that “on a style-by-style basis, our global styles incorporating an antimicrobial have a sewn-in label disclosing the active biocide chemical.”
Canadian manufacturer Lamour relies on silver-based antimicrobials for its base layer brand Terramar Sports, according to vice-president of product development and innovation Michael Smith. “We’ve always believed that silver was the number one antimicrobial, and in a micro porous yarn, silver could be very effective,” he explains. “The yarn is very expensive, but we still use it in our high-end product. Where we’ve moved to topical finishes, we are most concerned with efficacy. The binder is very important.”
The company now relies on a combination of yarns and finishes providing antimicrobial benefits, thermal regulation, and odour adsorption. “Our statistics show that these products are more in demand. The young people in the market like technology. We built our business on technology, and for the most part we are very specific with our suppliers,” Smith continues.
New delivery systems improve performance
With the increased popularity of performance apparel, the new generation of silver-based antimicrobials could meet the growing need for odour-control products that offer measurable results, durability, and ease of use, along with low dosage and reduced depletion of the active ingredient. The eco-concept of fewer home launderings and increased garment longevity is an important aspect of the value proposition. SILVADUR’s silver ions are extracted at the molecular level and delivered via a water-based system; the resultant complexed polymer provides their controlled release in the presence of bacteria on the fabric. This approach to “intelligent freshness” is said to optimize antimicrobial efficacy.
Because SILVADUR is not particle-based, it is not depleted by use or in washing. “It’s all about the delivery system. Particle-based delivery systems are archaic,” believes SILVADUR’s Bob Monticello, the lead technology application expert for the new Dow technology. The controlled release of the silver ions also means that standard antimicrobial tests such as AATCC100 are not an appropriate means of measuring the product’s efficacy. According to Monticello, a member of the International Antimicrobial Council (IAC), Dow tests SILVADUR using labs that specialize in antimicrobial textiles, and are certified by the IAC. He defines the test as “based on real life performance, defined and reproducible.”
“By providing odour control and bacteria reduction to denim, consumers are able to wash the product less, protecting the colour, fit, and stretch of their jeans,” explains Karel Williams, global strategic marketing manager for Dow SILVADUR.
Microban also relies on a proprietary carrier for its SilverShield technology, which targets polyester-based performance fabrics. “The bonding system is critical,” agrees Brian Aylward, director of liquid formulations R&D for Microban. “The trick is in the overall formulation. The carrier bonds the silver salt and makes it highly resistant to washing. It’s way more durable.”
PurThread developed a unique process to embed man-made fibres with Eastman Kodak’s silver antimicrobial agent, derived from recycled silver, at the manufacturing stage. Silver inhibits the growth of odour-causing bacteria on textiles through the release of silver ions (Ag+). © Debra Cobb Originally targeted to industrial and hospital end uses, PurThread is rigorously tested to AATCC100 standards and found to withstand 100 industrial launderings including hydrogen peroxide and chlorine bleaching. PurThread was also shown to kill 99.99% of MRSA, Salmonella, E. coli, and P. acnes (among others) after four hours in university laboratory tests, showing future potential for health care and other applications.
Polyester yarns embedded with PurThread function like standard polyester in manufacturing, dyeing well in most colours, and blending with other fibres such as TENCEL® and elastane. The non-nano silver particles remain distributed throughout the fibre, and do not wash down the drain, according to PurThread CEO and president Lisa Grimes. “We hold ourselves to extremely high standards, and we know we do what we say,” insists Grimes. “I think the industry is starting to look more closely at test methods, and at what works in a real world setting.” A recently-announced partnership with global textile manufacturer Burlington, a part of the International Textile Group, will expand PurThread’s presence into the markets for active wear, uniforms, military and special apparel. PurThread will also market its brand to consumers via hang tags reading “Protected by PurThread.”
Making an informed choice
Whether the technology withstands 25, 50, or 100 washings, increasingly active and tech-savvy customers have a place for odour control in their wardrobes. As government and industry standards for health and environmental safety become more exacting, brands, retailers, and manufacturers owe it to themselves and their customers to do due diligence regarding new and existing antimicrobial technologies for odour control.
SOURCE: Innovation in Textiles
