Amid selective buying interest for quality cotton, prices remained under pressure on Friday in line with global trend. The Trading Corporation of Pakistan’s (TCP) procurement drive which entered into purchasing stage has also failed to buoy lint prices which have gone much below Rs5,000 mark a maund, brokers said. According to reports, the TCP has so far purchased around 3,000 cotton bales from ginners after entering into contracts for over 390,000 bales. However, assurance given by the co

Leather manufacturers from India and Bangladesh yesterday signed a memorandum of understanding to intensify cooperation, foster joint ventures and explore possibilities of direct investments. The Indian Footwear Components Manufacturers Association (IFCOMA) and the Leather Goods and Footwear Manufacturers and Exporters Association of Bangladesh signed the agreement on the sidelines of a leather sector fair at Bangabandhu International Conference Centre in Dhaka. The deal provides for frequ

Organisers of Texworld, which runs from February 9-12, 2015 say, they have received exceptional rate of registration for the trade show. Indian textile body - Texprocil, which normally participates in the winter edition of Texworld, is now extending its presence to the summer show of the trade fair.Texprocil which is responsible for promoting Indian cotton textiles is also helping silk manufacturers, lacemakers and embroiderers to exhibit at Texworld, is partaking with almost 35 exhibitors.Texp

Cotton exports is estimated to be between 6.5-7 million bales (1 bale = 170 kgs) this year by trade source as against 11.8 million bales shipment estimated by the Cotton Advisory Board (CAB) during last year. Decline by about 45% this year (October – September) on falling demand from its perennial importers i.e. China and Bangladesh. China, the largest importer of Indian cotton has reduced cotton import from India in recent months. The second largest Bangladesh has also lowered its dependence

Bulgarian export of clothing and textile marked growth in 2013 with exports reaching 1.8 billion euros - the highest level of Bulgarian exports since 2007. A 7 percent growth in export has been marked in comparison to 2012. Out of those 1.8 billion, export of textiles totaled € 328 million or about 18% of the total exports of the country. In 2014 it is expected that the branch will grow further. These results bring Bulgaria's textile industry closer again to the strongest periods and the high

China and South Korea announced earlier this month that they have concluded talks on the FTA, which is expected to go into effect in mid-2015. The announcement has stirred up concern among Taiwanese exporters over South Korea's rising competitive edge against Taiwan in the huge China market. A free trade agreement (FTA) between China and South Korea could grant tariff free status to 85 percent of the textile items exported to the China market by South Korea in the future, this could cost Taiw

An Ugandan textile manufacturer is pushing for the implementation of a national textile policy in order to compel government institutions to buy textiles from local companies, NewVision reported. Vinay Kumar, the general manager for Nyanza Textile Industries Limited (Nytil), said that once implemented, the policy would enable textile companies’ access to concessional financing for investment.Although the Government of Uganda has announced the five year national textile policy, it has not yet be

LT Textile Cooperatief UA, a Dutch textile firm, is set to invest US$ 55 million in 2015-2016 to create modern textile capacities in Karshi district of Kashkadarya region, in Uzbekistan. The Government of Uzbekistan has approved the investment agreement between the Ministry of Foreign Economic Relations, Investment and Trade of Uzbekistan and LT Textile Cooperatief UA to provide specific obligations to the foreign investor for the modern high-textile production project, and has provided 30 he

A group of high-end retailers in the United States have teamed up with Alipay, which will enable online shoppers in China to purchase goods through Alipay's ePass. Alipay is China's largest third-party payment service. Merchants participating in the first Black Friday promotion include Saks Fifth Avenue, Neiman Marcus, Bloomingdale's, Macy's, iHerb, Gilt, Ashford, Ann Taylor, American Apparel and Aeropostale. The ePass payment option will allows Chinese shoppers to buy goods in yuan. Ali

With China and Bangladesh becoming costlier and unviable day-by-day, India is gradually garnering its share in apparel exports to the US. India saw a rise in apparel exports to the US by 7.5 per cent at 745 million square metres equivalent (msme) for the period January-September 2014 over the corresponding period last year, as per the latest data by the US Department of Commerce's Office of Textile and Apparel (OTEXA).As against this, China and Bangladesh posted 3.9 per cent and -4.63 per cent