At the Karachi Cotton Exchange on Wednesday, trading continued to remain slow while spot rates increased Rs200/maund to Rs7,800/maund (37.324kg) and Rs8,359/40kg. Ex-Karachi rates also rose to Rs7,945/maund and Rs8,514/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively. A total of eight transactions were recorded of around 13,000 bales at a price of Rs8,000 to Rs8,100/maund. Deals were recorded from Ghotki, Kot Sabzal, Liaquatpur, Khanpur, Rahimyar Khan, Mian Channu

Egypt’s home textiles exports increased 4.8 percent reaching $664 million in January-November 2017 period against $443 million registered in the same period last year, according to the Egyptian Home Textiles Export Council (HTEC), under the ministry of foreign trade and industry. Turkey was the largest importer of Egyptian textiles, followed by Italy, Saudi Arabia, Tunisia, Germany and Portugal. Meanwhile, exports by Egypt’s Textile Export Council increased by 3 percent between January and Oc

The Turkish garment sector has responded to criticism that it has been illegally employing Syrian refugees, including children, by launching awareness programmes, sharing best practice models and initiating training schemes to reduce the commission of such unethical practices. Most companies have also drawn up specific child labour remediation policies, and human rights activists have noticed a marked improvement in the situation since it was first highlighted two years ago, with brands worki

Le Tien Truong, general director of the Viet Nam National Garment and Textile Group (Vinatex), said this target was set despite difficulties in markets at home and abroad. He was speaking at a meeting on reporting Vinatex’s results of production and business in Ha Noi on Tuesday. In 2018, Viet Nam’s textile and garment industry will face more competition, while other textile exporting countries in the world plan to maintain their market shares in the world garment market, as well as expand th

Higher cotton production by Sindh and Punjab helped the country improve its overall output by 7.16 per cent year-on-year up to Dec 31, according to the latest figures issued by the Pakistan Cotton Ginners Association on Wednesday. Yet the production level remained lower than the official revised estimate of 12.6 million bales. The country produced 11.11m bales against 10.36m bales in the corresponding period of the last season. The government initially estimated that cotton production w

The government of Nepal has initiated the construction of the Rs 2.5 billion garment processing zone within the Simara Special Economic Zone (SEZ). The project expected to complete by 2018-19, will lower the cost of production by while increasing the scope of exports. The production cost in Nepal is considered to be relatively high in the region. The services that will be offered at the processing zone will make the price of Nepali products competitive in the international market. The faci

The Egyptian Government plans to develop spinning and weaving companies in northern parts of the country in the next five years, head of the Cotton and Textile Industries Holding Company Ahmed Mostafa recently said. The plan needs EGP 20 billion and some government land affiliated to a spinning and weaving company will be used to secure that amount. Mostafa said the government is working on development plans for spinning and weaving companies across the country and develop the sector in the

Pakistan disbursed Rs 14 billion among the textile sector against claims for Rs 21 billion through the State Bank of Pakistan under the Prime Minister’s Export Enhancement Package till December 21 last year. The Rs 162-billion package was launched to help the sector gain competitiveness in the international market and enhance the country’s textile exports. The government also offered procedural and tax relaxations on the import of textile machinery to modernise the industry and enhance the c

The United States Department of Agriculture revised down both cotton demand and supply in December, relative to projections made in November. 13.17 million bales are now expected to be supplied in the country, down 4.7% relative to 13.82 million bales projected in November. The downward revision in cotton supply was due to a downward revision in cotton production, which more than offsets the gain in imports. Demand for Pakistan’s cotton was also revised downwards in November relative to proje

The State Bank of Pakistan (SBP) on Monday made it clear that all arrangements for using Chinese yuan for bilateral trade as well as financing investment activity between Pakistan and China are already in place. On Dec 19, 2017, Minister for Planning and Development Ahsan Iqbal said that the government was considering a Chinese proposal to use renminbi (RMB or yuan) instead of the US dollar for payments in all bilateral trade between China and Pakistan. The decision was taken after rejecti