Vietnam looks set to become the biggest beneficiary of the US-led Trans-Pacific Partnership trade deal out of the four Southeast Asian participants, the other three being Brunei, Malaysia and Singapore. This according to an article written by David Robinson recently published in the UK Financial Times. The 12-country pact — covering about 40% of the world’s economy — will grant Vietnamese manufacturers tariff-free access to several large markets. It should also force Vietnam’s communist go

As Chinese spend on high fashion worldwide, local firms go shopping for brands to expand Retailers and investors say China's luxury goods industry still has a bright future despite a second consecutive year of losses in 2015, according to consulting firm Bain & Co. Research by the Fortune Character Institute appears to confirm this optimistic outlook, too. Last year, the Chinese bought 46 percent of the luxury goods sold worldwide - but 78 percent of that was purchased o

The country has so far produced 9.727 million bales this season, a decline of 34 per cent compared to 14.705m bales a year ago. The cotton crop failure is not only crippling growers financially, it has also hurt country’s entire economy and resulted in billions of dollars loss which is going to negatively reflect in the lower GDP growth for this fiscal year. Exporters cite poor and uncertified seed, fertiliser and pesticide as major causes for crop failure. Besides, heavy rains and floods

US denim giant Levi Strauss has expanded its clothing recycling initiative with I:CO to all its stores within Europe, beginning with the UK. The initiative, which encourages consumers to buy better and recycle more, was first introduced in the US in July, 2014. The project enabled consumers to recycle unwanted clothing and shoes to cut back on the amount of waste textiles sent to landfills each year and was rolled out with success across the US in 2015. Now Levi's aims to bring the initi

Free trade agreements (FTAs) to create many opportunities and conditions in developing markets to garment, textile, leather and footwear industries as well as challenges due to origin rules for textiles and garments, said Ho Thi Kim Thoa, deputy minister of industry and trade. Meanwhile, Phan Chi Dung, deputy head of the light industry department, said the textile, garment, leather, footwear, milk and paper industries have seen large billings for their exports, but materials for their product

Pakistan's value-added textile industry has urged the government to implement the zero-rated regime immediately, rather than wait for the federal budget announcement in July 2016. It has also asked authorities to issue bonds related to Finance Minister Ishaq Dar's commitment to refund claims of exporters without any further delay. Pakistani newspapers have reported. Pakistan Readymade Garments Manufacturers and Exporters' Association (PRGMEA) Senior Vice Chairman Sohail A Sheikh and Chief

According to the ICAC, world ending cotton stocks are expected to decline 8 per cent to 20.4 million tons, which makes up for around 86 per cent of global cotton use in 2015/16. “This is the first reduction in world ending stocks since 2009/10,” ICAC informed in a press release. China's ending stocks are forecast to decrease by 7 per cent to 12 million tons, while ending stocks for the rest of the world are expected to decline by 9 per cent to 8.4 million tons. “However, this reduction

Japanese garment-textile companies began expanding their production in Vietnam after the Trans-Pacific Partnership (TPP) was approved. According to Nikkei Asian Review, Vietnam’s competitive advantage has been strengthened to become the world’s export center, attracting foreign investment flows, including those from Japan. Many manufacturers hope to have stronger motivation after the TPP, of which Vietnam is a member. Experts said that the TPP will help boost production and exports in

After the arrival of first liquefied natural gas (LNG) shipment from Qatar in Pakistan, the Sui Northern Gas Pipeline Limited has announced to start supplying gas to the textile industry in Punjab for 24 hours after a long period of about six years. Punjab textile mills, which were presently receiving gas just for four-six hours a day, started getting re-gasified liquid natural gas (RNLG) from Wednesday night at a cost of $6.66 per Million British Thermal Unit (MMBTU). The total demand of the

International Cotton Association leaders have said in view of growing consumption of cotton in Bangladesh the platform wants to provide wide range of mediation and training support for trade associations and individual mills to ensure safe trading under ICA bylaws. The future of textile industry in Bangladesh is bright and the ICA is in Bangladesh to strengthen the bonds between the association and Bangladeshi spinning and textile sectors as the country is now the second largest cotton import