THE public-private Export Development Council (EDC) is keeping the 10-percent growth target for export this year despite a 6-percent contraction in revenues from shipments of local goods to the global market in the January-to-May period. EDC Vice Chairman Sergio Ortiz-Luis Jr. told the BusinessMirror the council met last week and did not see any need to change the export-growth target for 2013. “We did not see the need to change export-growth target for this year. This is because some majo

China and India are expected to be the major growth centers for apparel consumption by 2025, and the combined size of the Chinese and Indian apparel markets will become bigger than that of US and European Union (EU), according to a recent report. “The combined apparel market size of China and India will become US$ 740 billion by 2025, and is expected to surpass the combined market size of US and Europe, which will be US$ 725 billion in 2025,” states ‘Road to 2025: Textile and apparel sector r

A production line of the SMA Vina Viet-Han Garment Import Export Co in the northern province of Hoa Binh. Garment and textile exports are expected to increase when the country becomes a member of Trans-Pacific Strategic Partnership. — VNA/VNS Photo Trong Dat Domestic garment and textile companies will have many opportunities to increase exports as well as dismantle current trade barriers when the country becomes a member of Trans-Pacific Strategic Partnership (TPP). The assessment was voic

At a time when the country has been facing huge trade deficit due to supply side constraints, garment entrepreneurs have asked the government to play a proactive role in promoting export of readymade garment (RMG). Nepal is facing trade deficit of as much as Rs 1.5 billion per day due to soaring imports and limited export capacity. Exports of Nepal?s main exportable items like RMG, carpets, pashmina and handicraft have been slowing for the past few years. Garment exporters, who have been pas

(The industry appeals for reintroduction of the separate rates of fixed 7.5 % for the labour intensive sectors of clothing and textiles, says AEPC chairman.) The apparel exporters have demanded a separate interest rates for garment exports. In a letter written to the finance minister Mr P. Chidambaram, Dr A Sakthivel, chairman AEPC (Apparel Export Promotion Council) has demanded that garment exports should be given a separate chapter for interest rates in export sector. In his letter AEPC

Textile exporters have rejected the recent hike in power and petroleum product prices as it would trigger inflationary impact and would ultimately affect the overall trade and business environment. Criticising the tariff hike, Asghar Ali, Chairman and Muhammad Asif, Vice Chairman Pakistan Textile Exporters Association, said businesses are already facing tough challenges and further increase in Petroleum prices and power tariff will create enormous inflation and great pressure on the business act

Tens of thousands of textile traders in the country's biggest man-made fabric hub in the city are affected following an indefinite strike called by the tempo transport association over parking and traffic issues from Friday. The delivery of finished fabrics, including saris and dress materials to the consumer markets across the country, is affected since the past two days. Textile traders said tempo transporters, delivering grey and finished fabrics, are on an indefinite strike demanding park

Union Minister of Textiles K S Rao today said in a bid to increase carpet export to European countries, India would open its depot in Brazil. Talking to reporters here after a meeting with All India Carpet Maufacturers Association, Rao said exporters could keep their products in the warehouse to be constructed with a cost of Rs 100 crore and sell it in European countries. Construction of warehouse would felicitate exporters in selling their products and venture in new countries, he said, addin

Advanced Petrochemical Company (APC) recently signed an agreement with Saudi Aramco Total Refining and Petrochemicals (SATORP) to increase the supply of propylene to 30,000 tons per year. This brings the total supply from SATORP to 80,000 tons per year. Last year, there was a short-term sales agreement for the supply of 50,000 tons per year of propylene that was concluded between APC and SATORP. The duration for the supply of entire 80,000 tons per year has been amended from 3 years to 5 y

The textile and clothing industry that has been struggling to maintain exports growth and facing tough competition from neighbouring countries will now have a relief as the government has increased the interest subvention rates from 2 percent to 3 percent, said D.K.Nair, Secretary General, Confederation of Indian Textile Industry (CITI) while hailing the government's initiative that will benefit exporters. "The enhancement of interest subvention is a very welcome measure. High interest cost is