Ethiopia is aiming ambitious target to generate USD 30 billion from the export of garment and textile by the year 2025. However, it is not the first time for the government to look to the textile and clothing supply chain as one of the country’s key targets for growth whose shipments are only 115million USD 8 years before the year 2025. The target set is 300 fold rise in shipments within 8 years. Back in 2015, the country’s annual export for clothing was 73.25 million USD. According to Dr.

Fine Cotton Factory, is targeting the mattress category for growth, both in Canada and in the United States, and it has backed its ambitious growth plans with a big expansion of its factory here. The company doubled its footprint to 80,000 square feet to accommodate 70 knitting machines, including high speed decorative mattress ticking machines, and boosted its mattress ticking capacity to half a million yards per month. It also opened a 5,000-square-foot showroom, a sample room and a design

Delegates from the Ethiopian government and textile industry as part of their study tour in India visited Government PolytechnicNagpur (GPN) last week, to know about cotton growing methods and development in cotton textiles. The delegation from Ethiopia included eight top officials from Ethiopian Industry Input Development Enterprise, Ethiopian Textile Industry Development Institute, Cotton Producers, Ginners and Exporters Association Ethiopia, Ministry of Agriculture and Natural resources an

China will host the Belt and Road Forum (BRF) for International Cooperation on May 14 and 15. Following are the economic corridors proposed under the Belt and Road Initiative. -- China-Mongolia-Russia Economic Corridor The idea of the China-Mongolia-Russia Economic Corridor (CMREC) was proposed by China in September 2014 during the first trilateral meeting of the heads of state of the three countries in Dushanbe, capital of Tajikistan. On June 23, 2016, the three countries put pen to paper

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 29 basis points to 6.9066 against the U.S. dollar Wednesday, according to the China Foreign Exchange Trade System. In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day. The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank

China's imports and exports are likely to continue their upward trend this year but pressure will remain due to external uncertainties, a report said Thursday. Foreign trade will be in a better position thanks to improving structure and efficiency and more growth momentum, according to a report by the Ministry of Commerce. The sound fundamentals have remained unchanged and local companies still have advantages in global trade, said the report. Boosted by a pickup in external demand and

With demand to import more than 10 billion USD worth of apparel products each year, Russia is a market with potential for Vietnamese garment-textile businesses. According to the Vietnam Textile & Apparel Association, businesses have received many jacket and jeans orders from Russian companies in recent years. The garment-textile industry was predicted to get the most benefits when the free trade agreement between Vietnam and the Eurasian Economic Union came into force in October 2016.

HANDBAG maker Coach Inc said it would buy Kate Spade & Co for US$2.4 billion as it looks to tap the popularity of its smaller rival’s quirky satchels and totes among millennials. The US$18.50 per share offer in cash represents a premium of 9 percent to Kate Spade’s Friday close. Kate Spade said in February that it was exploring strategic options, after hedge fund Caerus Investors urged the company to sell itself citing the management’s inability to achieve profit margins comparable to

The textile industry has urged the government to continue the sales tax zero-rating facility to five export-oriented sectors in the upcoming federal budget 2017-18, besides speeding up the disbursement of drawbacks under the PM export package. The major textile bodies including All Pakistan Textile Mills Association and Pakistan Hosiery Manufacturers Association have said that any move to withdraw zero rating regime for the five exporting sectors would tantamount to devastating impact on the

Organized by Globaltextiles.com, the 19th Purchase Meeting, whichis a traditional supporting activity of China Keqiao International Textiles, Fabrics & Accessories Exhibiion, was held successfully on 7th May, 2017. About 100 buyers from home and abroad attend this meeting withdemands of apparal fabric, home textiles, curtain fabric, fuction fabric and others. According to buyers requirements, Globaltextiles matched quality suppliers from the website members and local market for them, and