|
Item |
Price |
Unit |
Fluctuation |
|
PSF |
1142.07 |
USD/Ton |
-1.68% |
|
VSF |
1855.66 |
USD/Ton |
0.18% |
|
ASF |
2443.80 |
USD/Ton |
0% |
|
Polyester POY |
1148.59 |
USD/Ton |
-3.42% |
|
Nylon FDY |
2981.44 |
USD/Ton |
0% |
|
40D Spandex |
6924.10 |
USD/Ton |
0% |
|
Nylon DTY |
1376.67 |
USD/Ton |
-2.31% |
|
Viscose Long Filament |
3290.98 |
USD/Ton |
0% |
|
Polyester DTY |
5742.93 |
USD/Ton |
0% |
|
Nylon POY |
1441.84 |
USD/Ton |
-2.21% |
|
Acrylic Top 3D |
2802.22 |
USD/Ton |
1.18% |
|
Polyester FDY |
2590.43 |
USD/Ton |
0% |
|
30S Spun Rayon Yarn |
2574.14 |
USD/Ton |
0% |
|
32S Polyester Yarn |
1857.29 |
USD/Ton |
-0.87% |
|
45S T/C Yarn |
2883.68 |
USD/Ton |
0% |
|
45S Polyester Yarn |
2003.92 |
USD/Ton |
-1.60% |
|
T/C Yarn 65/35 32S |
2476.38 |
USD/Ton |
-0.65% |
|
40S Rayon Yarn |
2704.47 |
USD/Ton |
0% |
|
T/R Yarn 65/35 32S |
2606.72 |
USD/Ton |
0% |
|
10S Denim Fabric |
1.14 |
USD/Meter |
0% |
|
32S Twill Fabric |
1.00 |
USD/Meter |
0% |
|
40S Combed Poplin |
1.35 |
USD/Meter |
0% |
|
30S Rayon Fabric |
0.77 |
USD/Meter |
0% |
|
45S T/C Fabric |
0.79 |
USD/Meter |
0% |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.16292 USD dtd. 23/03/2015)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
Ahead of the Tamil Nadu state Budget which is to be presented on 25 March, 2015, various associations have submitted their pre-Budget demands to the government. The Tirupur Exporters’ Association (TEA), in its Pre-Budget Memorandum 2015-16, submitted to chief minister O Panneerselvam, urged the government to address the issues like infrastructure, workers’ stay, non-availability of working women’s hostel etc., and stated that once these issues are resolved, exports will grow significantly from Tirupur.
TEA has also asked the state government to set up a State Textiles Board, and formulate a separate textile policy for Tamil Nadu. Having a Textiles Board and framing a textile policy would help the government in taking a focused approach to the development of textile industry, said TEA president A Sakthivel in the memorandum. Similar to the textile policies of Maharashtra and Gujarat governments, the Tamil Nadu textile policy should provide 5 per cent interest subsidy and 10 per cent capital subsidy towards modernisation and expansion of capacity in existing units, TEA said.
Incentives for promotion of technical textiles, and capital subsidy for setting up various types of effluent treatment plants (ETPs), setting up of a dedicated power station for the Tirupur knitwear cluster, and widening of the Tirupur-Oddanchathram road were among the other demands put forward by the association. In a separate pre-Budget representation made to the state government, Coimbatore-based Indian Chamber of Commerce and Industry (ICCIC) requested a reduction in the value-added tax levied on cotton, cotton yarn and synthetic yarn to 2 per cent. Stating that the current system of e-payment of VAT is cumbersome, ICCIC also urged the government to liberalise the mode of VAT payment by allowing payment through other options like RTGS/NEFT, through post offices and by a/c payee cheques etc.
SOURCE: Fibre2fashion
Negotiations for the proposed free trade agreement with the European Union may resume as India today said that it is "ready to talk" with the EU on the pact. No negotiation was held after both sides failed to bridge substantial gaps on crucial issues including data security status for the IT sector in May 2013. "I have assured the EU ambassador and ambassadors of individual EU countries that we are ready to talk with the European community. They have been our traditional trading partners," Commerce and Industry Minister Nirmala Sitharaman told reporters here.
Launched in June 2007, the negotiations for the proposed Broad-based Trade and Investment Agreement (BTIA) between India and the 28-nation European bloc has witnessed many hurdles with both sides having major differences on crucial issues. The two sides are yet to iron out issues related to tariffs and movement of professionals but the EU has shown an inclination to restart talks. She said that the FTA has been delayed for a very long time and several rounds of negotiations were held, but did not reach any logical conclusion. "This was stated by great concern and worry by the European community Ambassador...we did ask the Ambassador if their priority is till on an FTA with India, considering there is talk about Trans Atlantic partnership going on and the Ambassador said yes. The EU is looking forward to having an FTA with India and talks would be encouraging. "We readily accepted and therefore we certainly and definitely want to engage with the EU on that," she added.
The two-way commerce stood at USD 101.5 billion in 2013-14. Further responding to a question on an FTA with the customs union of Belarus, Kazakhstan and Russia, Commerce Secretary Rajeev Kher said the joint study group has been created for the proposed pact. "The meetings are in the process. We expect that it should take about six months to complete the process of consultations and thereafter then on the basis of recommendations both sides will start working on negotiations for an FTA," Kher said. Under the proposed Comprehensive Economic Cooperation Agreement (CECA), two sides aims to significantly reduce duties on the maximum number of tradable goods besides by liberalising norms for service and investments. It also aims at facilitating movement of professionals.
SOURCE: The Economic Times
Taking forward its ‘Act East’ policy, the BJP government is finalising the mechanism for setting up special purpose vehicles by Export Import Bank of India and private companies to invest in manufacturing hubs in Cambodia, Myanmar, Laos and Vietnam (CMLV). “We are hoping to roll out the mechanism in the next three-four months,” Commerce Secretary Rajeev Kher told reporters on the sidelines of an event in New Delhi on Monday.
The bigger idea behind investing in CMLV countries is not only to tap these markets but also larger markets like the US with which the group has entered into trade pacts such as the TPP, the secretary said. The mechanism, which will operate through the SPV, will have a project development facility that will be funded by the government. The project development facility will invest in a country in hubs such as special economic zones (SEZs). “It will invest in the SEZ, develop it and then allocate it to business entities in India against payment,” Kher explained.
He said that the government was making investments to begin with as the private sector was not confident about taking the first step. Finance Minister Arun Jaitley had announced in his budget speech that the government will help in setting up manufacturing hubs in CMLV "The 'Act East' policy of the government of India endeavours to cultivate extensive economic and strategic relations in Southeast Asia. A project development company through separate special purpose vehicles will set up manufacturing hubs in CMLV," Jaitley had said.
SOURCE: The Hindu Business Line
Currency value has a close co-relation to corporate earnings. With export income accounting for a third of the CNX Nifty earnings, any upward or downward movement in the currency impacts in a meaningful way. While the rupee has remained largely stable against the dollar in recent times, other currencies have weakened sharply. The euro, for instance, has depreciated 20 per cent against the rupee in the past year. Currency analysts expect the trend to continue in 2015, with the region's economic outlook likely to weaken further. Europe accounts for 17 per cent of India's total exports. So, companies exporting to that region might report a contraction in revenues and earnings.
The euro has fallen against a basket of other currencies as well - not just the rupee. Indian exporters might not be able to increase prices to offset the loss arising from a depreciation of the euro. Given the economic environment, European firms might not be willing to pay a higher price for imports, impacting export volumes. There are some sectors, which have a much higher exposure to Europe than others. Software services exporters are seeing some stress thanks to cross-currency volatility. Indian vendors derive 31-48 per cent of sales from Europe, which is why revenue and margins might come under pressure over the next few quarters. The other sectors that have a sizable exposure to Europe include textiles, apparels, auto components, organic chemicals, and iron & steel. As Europe accounts for 45 per cent of India’s total apparel & footwear exports, these two segments are likely to be impacted the most on account of a weaker euro, says Spark Capital.
Organic chemicals, iron & steel, electrical and machinery components are likely to be hit as Europe accounts for 20-25 per cent of the total exports in these sectors. Auto & auto components account for 19 per cent of the sector’s total exports. In the auto & auto components segment, Bharat Forge and Sundaram Clayton are the names that are expected to see some impact. Exports to Europe account for 12 per cent of their total exports. The currency is a big risk to corporate earnings as India does not have the productivity enhancing tools that can offset such a strong currency in export markets. Ridham Desai, managing director, Morgan Stanley (Research), says the rupee is overvalued by seven per cent and it is a big risk to earnings and growth.
SOURCE: The Business Standard
Global retailers planning to set up shop in India are also looking at the country as a sourcing hub for their global operations, according to top executives of such firms. “I think opening Indian fashion to the rest of the world is an opportunity,” said Bonnie Brooks, vice-chairman, Hudson’s Bay Co., which owns retail chains such as Hudson’s Bay, Lord & Taylor and Saks Fifth Avenue. She spoke on the sidelines of the Indian Fashion Forum (IFF) in Mumbai. Last year, a management team from the luxury department store chain Saks Fifth Avenue was in India to look at retail opportunities. “For Saks Fifth Avenue, India is on the horizon in the foreseeable future,” said Brooks, without giving details. During her visit in Mumbai, Brooks visited the showrooms of fashion designers Gaurav Gupta and Sabyasachi. She was also interested in visiting high-end jewellery retailers, she said. In January, Ikea India Pvt. Ltd, the local unit of Swedish furniture firm Ikea Group which got foreign direct investment approval to open stores in India, said it plans to double its sourcing from the country by 2020. Currently, Ikea sources products worth $370 million from India.
It is looking at increasing its number of suppliers for existing home furnishing categories such as textiles and rugs, as well as in new categories such as furniture, mattresses, metal, plastics and lighting. The firm is also looking at sourcing goods made from local sustainable materials such as bamboo, jute and acacia. Indian handicrafts, one of the country’s largest exports, are also being sourced by luxury stores in the West. “We will end the financial year 2015 with revenues of Rs.27,000 crore, a 24% growth over last year’s Rs.21,500 crore,” said Rakesh Kumar, executive director, Exports Promotion Council for Handicrafts, adding that these products are showcased in the gift, furniture, home, fashion and lifestyle sections of high-end department stores such as Bloomingdales, Gallery Lafayette and Harrods.
The Indian handicrafts market is estimated to be worth Rs.46, 000 crore; exports account for close to 60% of the overall market. Moreover, 60% of the Indian handicrafts exports goes to the 10 quality-conscious markets, including the US, the UK, Germany, France, Italy and the Netherlands, said Kumar. Jewellery exports from India are also growing. However, unlike handicrafts, most Indian jewellery is mass-produced and sold at value retail chains such as Wal-Mart, J.C. Penney and Sears. “India’s market share in the global jewellery market has increased from 0.5% in 1997 to 12.5%, accounting for $12 billion-worth of exports for Indian jewellers,” said Pankaj Parekh, vice-chairman, Gems and Jewellery Export Promotion Council (GJEPC), a lobby group. Less than 1% of the overall exports are couture, he added.
While India is known as a textile and apparel manufacturing hub, Indian fashion caters largely to the Indian diaspora. “Indian fashion can’t be showcased in department stores,” said Sunil Sethi, managing director, Alliance Merchandising Pvt. Ltd, a sourcing and buying agency. Over the years, the firm has taken more than 25 Indian fashion designers to the international platform, selling their products under their own brands to stores such as Selfridges, Golf & Co, TsUM, The Conran Shop, Habitat and Coin. “It will be difficult for any of the Indian cities to become a global fashion capital in the near term...
India’s fashion sector is very nascent and is considered to be less than 2% compared to the global market. Even Bangladesh and Vietnam, estimated to be a tenth of India’s size, compete strongly against India in the global apparel export,” said Neelesh Hundekari, principal and head, luxury and lifestyle practice, India, at global consultancy firm A.T. Kearney at IFF 2015. China’s contribution to global apparel exports is about 40% while India’s is 5%, he said. Meanwhile, Sethi of Alliance Merchandising is working with BHLDN Llc, a retail chain specialising in wedding wear to showcase Indian designers. A small number of fashion and jewellery designers have made a name globally, securing orders from celebrities. Lady Gaga and Nicole Scherzinger have worn ensembles of fashion designers Alpana and Nikhil. Jewellery designer Viren Bhagat, who makes only 60 pieces a year, is one of the most-sought after contemporary jewellery designers, according to Christie’s, a New York-based auctioneer.
SOURCE: The Live Mint
Indorama Ventures which has been on an acquisition spree since the last few months has now acquired the Montreal; Canada based PTA business of Cepsa Química SA. “The plant is the only PTA facility in Canada and one of only three PTA suppliers in North America,” Indorama ventures said in a press release. “The acquisition, subject to usual regulatory approvals, will allow the company to expand its footprint into Canada,” the Thailand based producer of intermediate petrochemicals added.
Aloke Lohia, Group CEO said, “Cepsa provides us the unique opportunity to acquire assets that will consolidate our North American polyester value chain businesses for added feedstock security.” “The acquisition is in line with our announced strategy to expand in our core businesses, primarily in the West,” he too added by saying. Cepsa produces approximately 600,000 tons of PTA per annum at this plant and receives piped supply of its feedstock, Paraxylene from an adjacent refinery.
According to Indorama, the plant is logistically well placed to economically serve customers via rail access or via the St. Lawrence River. Cepsa is an energy group fully owned by the International Petroleum Investment Company (IPIC) and employs more than 10,000 people and operates at every stage of the hydrocarbon value chain. It is engaged in petroleum and natural gas prospecting and production activities, refining, transport and sale of crude oil and natural gas derivatives, biofuels, co-generation and electricity sales.
Cepsa has developed a world-class chemicals division that is tightly integrated with its oil refining segment, where feedstock is manufactured and sold for the production of high value added components. It also has a prominent position in Spain and, through the continuing international expansion of its business; it also operates in 15 countries, marketing its products all over the world.
SOURCE: Fibre2fashion
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$ 52.83 per barrel (bbl) on 23.03.2015. This was higher than the price of US$ 52.50 per bbl on previous publishing day of 20.03.2015.
In rupee terms, the price of Indian Basket increased to Rs 3290.78 per bbl on 23.03.2015 as compared to Rs 3280.73 per bbl on 20.03.2015. Rupee closed stronger at Rs 62.29 per US$ on 23.03.2015 as against Rs 62.49 per US$ on 20.03.2015.
The table below gives details in this regard:
|
Particulars |
Unit |
Price on March 23, 2015 (Previous trading day i.e. 20.03.2015) |
Pricing Fortnight for 16.03.2015 (Feb 26 to Mar 11, 2015) |
|
Crude Oil (Indian Basket) |
($/bbl) |
52.83 (52.50) |
58.21 |
|
(Rs/bbl |
3290.78 (3280.73) |
3618.92 |
|
|
Exchange Rate |
(Rs/$) |
62.29 (62.49) |
62.17 |
SOURCE: PIB
In the Chinese domestic market, prices of Cotton Linter were assessed at RMB 2530/ton in the last week ending March 20, which were down as compared to the previous week ending March 13, 2015. In the last updates from market, offer prices were in the range of RMB 2630/ton to RMB 2830/ton. Trading prices were around RMB 2415/ton to RMB 2700/ton.
Prices of Dissolving Pulp were witnessed at RMB 6000/ton in the last week, which were stable compared to the previous week. Prices of imported Dissolving Wood Pulp were quoted in the range of US$ 795/ton to US$ 800/ton. Prices of Pulp imported from the US and Europe hovered in the range of US$ 830/ton to US$ 840/ton and US$ 810/ton to US$ 815/ton respectively, while those from Canada were in the range of US$ 750/ton to US$ 780/ton. Prices of Pulp imported from Sweden were between US$ 795/ton and US$ 800/ton.
VSF prices were spotted at RMB 11350/ton in the last week, which were marginally down compared to the previous week. During the week, VSF market opened at RMB 11350/ton and closed at the same level. In the Chinese market, offers for imported VSF hovered in the range of US$ 1.54/kg to US$ 1.56/kg. Market analysts expect VSF prices to remain steady in the ongoing week. In the last week, VFY prices increased and were offered at RMB 35300/ton. VFY market sentiments were optimistic during that period. Producers’ kept offers in the range of RMB 35250/ton to RMB 35300/ton. In the Chinese market, offers for imported VFY went up and were assessed in the range of US$ 5600/ton to US$ 5650/ton.
SOURCE: Fibre2fashion
The export of textiles and garments from Sri Lanka increased by 9.4 per cent to US$ 4.929 billion in 2014, compared to exports of $4.508 billion made in 2013, according to the data from the Economics Research Department of the Central Bank of Sri Lanka. The 9.4 per cent growth rate registered by the textiles and garment exports was greater than 6.5 per cent and 7 per cent growth rates witnessed by Sri Lankan industrial exports and total exports during the year, the data showed.
Textiles and clothing accounted for 59.75 per cent of Sri Lankan industrial exports and 44.34 per cent of all exports made by Sri Lanka in 2014. On the other hand, the import of textiles and textile articles by Sri Lanka grew by 13.8 per cent to $2.327 billion in 2014, as against imports of $2.045 billion made in the previous year. The increase in imports of textiles and textile articles shows expansion of garment manufacturing in the island country.
SOURCE: Fibre2fashion
The demand for Indonesian goods is pretty high in Egypt, said Indonesian Ambassador to Egypt Nurfaizi Suwandi on the sidelines of the Cairo International Fair (CIF), the largest annual trade exhibition in Egypt and hence they are committed to continue increasing their exports to Egypt. The primary Indonesian goods exported to Egypt included yarn, textile, handicrafts, crude palm oil (CPO), coffee, tea, paper, tires, electronic devices, and vehicle spare parts as per Indonesian embassy’s trade attaché in Cairo.
The value of Indonesian exports to Egypt has increased by 21.71 percent to US$1.34 billion throughout the 2014 fiscal year from the $1.1 billion recorded in the previous year. Nurfaizi Suwandi said that the double-digit increase showed Jakarta’s commitment to continue exploring economic and trade activities with Cairo.There are 17 companies participating at the CIF’s Indonesian stand consisting of 10 Indonesian firms, five Cairo-based companies and two Indonesian-Egypt joint venture firms.
Tutu Nurhasanah from PT Syukestex, one of the participants from Indonesia said that their batik and textiles have already penetrated the market in Dubai. Now they want to try to enter the Egyptian market. This year the Cairo International Fair (CIF) is a well-established multi-sectorial trade event is an unique platform for marketing products and services. It enables participants from overseas to introduce new and improved technologies on Egypt and Middle East markets will held from March 18 to 27. CIF 2014 attracted more than 800 exhibitors from 15 countries and the number of visitors was more than one million.
SOURCE: Yarns&Fibers
Fabric and garment exports from the Southeast Asian nation of Vietnam grew at nearly 12 per cent year-on-year to US$ 3.249 billion in the first two months of 2015, according to the preliminary data released by the customs IT & statistics department, general department of customs, Vietnam’s ministry of finance. Destination-wise, the US alone accounted for $1.57 billion worth of fabric and apparel from Vietnam during January-February 2015, followed by Japan and South Korea with exports to these countries valued at $412.33 million and $321.659 million, respectively.
Vietnam also exported 127,260 tons of yarn fetching $347.805 million during the two-month period, registering an increase of 12.4 per cent and 2 per cent year-on-year, respectively, according to the data. Thus, Vietnam’s total earnings from yarn, fabric and garment exports stood at $3.547 billion during the period under review. On the other hand, Vietnam imported 132,332 tons of cotton and 107,765 tons of yarn, valued at $210.447 million and $222.36 million, respectively. Vietnam’s fabric imports soared by 18.2 per cent year over year to $1.343 billion, of which, imports from China were valued at $694.819 million during the two-month period. In 2014, Vietnam’s fabric and garment exports grew at 16.8 per cent year-on-year to US$ 20.948 billion.
SOURCE: Fibre2fashion
The country plans to boost exports to Turkey by more than double within the next four years by facilitating Turkish businesses as well as promoting domestic products. The export target is set to reach US$3.87 billion in the next four years, up by 166.9 percent from the $1.45 billion recorded last year, according to the Trade Ministry’s director general for national export development, Nus Nuzulia Ishak. To help achieve the target, Indonesia would facilitate potential Turkish buyers to come and connect them with local business. This would be carried out through buying missions and business forums, Nus said Monday. “Buying missions are primary ways to grab export opportunities and to promote Indonesian products to buyers, which is expected to generate trade and investment in Indonesia,” she said, referring to the business visits sponsored by the Indonesian government.
Among the products with the most potential to increase exports to Turkey are food and textiles as well as textile products, particularly halal food and Muslim fashion items, according to mapping by the Trade Ministry. Indonesia’s exports to Turkey amounted to $1.45 billion last year and comprised mainly woven fabrics, artificial staple fibers, palm oil, yarn, furniture and electronic parts. On the other hand, imports, which stood at $1.03 billion, consisted of tobacco, wheat, chemical, marble, synthetic yarn and tractors.
Turkey was the 23rd-biggest destination for Indonesian exports in 2014, while Indonesia was the 26th supplier for Turkey. The Trade Ministry welcomed on Monday around 20 Turkish businesspeople lead by Istanbul Chamber of Commerce and Industry chairman Murat Yalcintas as part of Turkey’s first buying mission this year. They sorted out business opportunities with Indonesian producers in the areas of building materials, textiles leather, shoes and machinery.
Under the previous administration, Southeast Asia’s largest economy and the Euro-Asian country had planned to negotiate a preferential trade agreement (PTA) to push up bilateral trade. Preference in terms of tariff reduction would only cover a small number of selected items agreed to by both parties. However, the follow up to the proposal has been unclear. In the latest development, the Indonesian government said it had carried out a joint study to prepare talks on a comprehensive trade and economic partnership (CTEP) with Turkey.
The Trade Ministry’s director general for international trade cooperation, Bachrul Chairi, who is in charge of holding trade talks, however, could not be reached for comment. Indonesian Palm Oil Producers Association (Gapki) executive director Fadhil Hasan demanded the government carry out negotiations to create a beneficial trade arrangement. “The trade agreement will help create a level playing field for us against Malaysia,” Fadhil said, adding that further market opening as a result of the deal could facilitate Indonesian palm oil exports to some Middle East countries, such as Iran and Iraq, as Turkey might serve as a trade hub. Indonesia, the world’s top palm oil producer, expects decreased competitive edge compared to its main rival, Malaysia, following the recent implementation of a PTA with Turkey, which cuts import duties of Malaysian palm oil to 20 percent from 31.2 percent. Indonesian palm oil sales to the Middle East rose by 16 percent to 2.29 million tons in the past year, according to Gapki data.
SOURCE: The Jakarta Post
Singapore and Malaya received separate export quotas from Britain, before the formation of Malaysia. In 1964, after Singapore had become part of the new nation, Britain decided to issue a single quota for Malaysia. A verbal spat broke out between Singapore and Malaysia's central government after Singapore Finance Minister Goh Keng Swee blamed Kuala Lumpur for the collapse of textile talks between Britain and Malaysia.
He lashed out at the central government for wanting to give the lion's share of British quotas for textile exports to Malaysian states other than Singapore. The episode highlighted friction between Singapore and Kuala Lumpur over international trade issues and contributed to thorny relations between them. It also came at a time of wide unemployment in Singapore, when garment factories were laying off workers.
According to Dr Goh, the collapse was not due to any deadlock between Britain and themselves. It arose from the differences between the central and Singapore governments as to how the latest British proposal is to be handled. It was preposterous for Kuala Lumpur to allocate the bulk of the quotas to Malaysian states when they did not even export any garments. He accused Kuala Lumpur of seeing Singapore as a dangerous rival to be kept down at all cost.
Singapore labour chief C. V. Devan Nair also criticised Kuala Lumpur's move, accusing the central government of wanting to create jobs in Malaya at the price of unemployment in Singapore. Far from Singapore becoming the New York of Malaysia, they shall soon be converted into the largest industrial slum in South-east Asia, he added. Dr Goh disputed the central government's assertion that the final decision on any textile agreement with Britain lay with it and not with any particular state. Instead, he said that British trade representatives had stated repeatedly that the acceptance of any British offer must be by both the Singapore and central governments. Malaysian Minister for Commerce and Industry Lim Swee Aun, who cut short a trip to return and deal with the issue, has certainly weakened their position to bargain with Britain for the best offer, said Dr Goh. In May 1965, new British quota was accepted by Malaysia. Singapore too had accepted its allocation of a quota but refused to mention the exact the share.
SOURCE: Yarns&Fibers
Ras Al Khaimah Free Trade Zone (RAK FTZ) is one of the fastest growing and most cost-effective free trade zones in the UAE and today is home to some 8,000 companies from over 100 countries, representing more than 50 industry sector. It is the best gateway for Pakistani industries to gain foothold in the dynamic Middle East region and lucrative markets in Africa, Europe and South Asia. According to Ramy Jallad, Acting CEO, RAK- Free Trade Zone, investors from Pakistan who are looking for a safe, secure and solid base in the Middle East region to access the world’s most dynamic markets, the United Arab Emirates (UAE) offers significant benefits for them
RAK FTZ currently hosts nearly 400 Pakistani companies since it offers a tax-free environment and 100 percent foreign ownership. Home to an estimated 1.7 million Pakistanis vested in a wide variety of industries including textiles, raw materials, cotton, fabrics, clothes and clothing accessories, as well as building materials, rice, wheat, and food processing machines, the UAE has a bustling economy that is strengthened by its government's commitment to develop a world-class business environment, he informed. It is to be noted that food and textiles top the list of export commodities from Pakistan to the UAE, with oil and gold leading imports from the Emirates. Both countries have also taken their financial expertise into the local market with Pakistan's Banks, which are operating in the UAE for over four decades, and four UAE banks present in Pakistan.
The UAE has become a leading global destination for foreign investment, as a result of its political stability, sound economic policies, business-friendly regulatory environment and zero tax regime. The RAK-FTZ provides international investors a safe and secure environment in which to establish and grow their business operations, ranging from SMEs to subsidiaries of leading global companies. According to Sheikh Ahmad Bin Saqr Al Qasimi, Chairman RAK FTZ, they make it as easy as possible to establish a business in the UAE, with fast-track licensing and registration, investor and worker visa issuance, freedom to source labour and materials globally, and ongoing business support services such as advertising, procurement, event management, recruitment and training assistance. RAK FTZ provides the same free zone benefits - including 100 percent foreign ownership and world-class, ready-made facilities - that are available elsewhere in the UAE, but for substantially lower costs than free zones in other emirates, allowing clients to achieve the maximum return on investment. The free zone has blossomed into a cost-effective gateway to fast-growing regional and global markets. Less than an hour's drive from Dubai, RAK FTZ offers a strategic geographical location that provides clients with easy access to a wide range of countries across the Middle East, Africa, Europe, and South Asia.
SOURCE: Yarns&Fibers
Researchers have developed thin light-emitting fibres capable of being woven into colour-tunable textiles. These textiles, when provided with a very small electrical signal, emit blue or yellow light. Other colours could be available in the future. The researchers suggest the process could be scaled up to manufacture clothing which directly emits light.
Huisheng Peng of Fudan University, Shanghai, and colleagues found that a fibre-shaped PLEC (polymer light-emitting electrochemical cell) could be made by coating a thin steel wire with a layer of zinc oxide nanoparticles. The fibres are around one millimetre thick and can be twisted together and woven into patterns in textiles. Unlike glass optical fibres, which guide light from one location to another, these metal–polymer–carbon fibres emit light from their entire surface with an electrical signal of a few volts or more.
SOURCE: The Business Insider
