United States Trade Representative (USTR) announced the brief summary of the US-Peru Trade Promotion Agreement.New Market Access for US Consumer and Industrial Products Eighty percent of US exports of consumer and industrial products to Peru will become duty-free immediately, with remaining tariffs phased out over 10 years. Key US exports will gain immediate duty-free access to Peru. Peru has agreed to allow trade in remanufactured goods, and will join the WTO Information Technology Agreement.Th

Canton Textile, the Chinese textiles fair for machines, fibres, yarns and finishing is looking forward to provide a vital sourcing platform for clothing fabrics and trimmings. The main objective of the International Apparel Sourcing Fair, which will run from 1 to 3 March 2006, is to establish direct relations between European, American and Japanese customers and the manufacturers in Guangdong. By early December, it has received some 450 registrations for both events.In Guangdong province, more t

Indian Textiles Industry is ready to break all previous records reaching US $50 billion dollar by 2010.Till last year, annual export rate of Indian textile was $15 billion, but globalisation and some encouraging steps taken by the centre have expanded exports from about 3.5 percent till 2003-04 to over 16 percent at present, informed Rajeev Aggarwal, Secretary, Textiles Committee, Government of India, on the eve of a one-day workshop on textile industry.The EU countries and the USA are main dest

The already-ailing Indonesian textile sector had the ladder kicked away from it this year. Early in 2005 it was charged with being ill-prepared to face the termination of the Multi Fabric Agreement (MFA), which 20 percent of textile manufacturers here were previously reliant upon. The termination agreement was in fact reached a decade ago. Without the global textile quota system, the market will indeed be freer, that is for those with high competitiveness, which currently reads, China

India Textiles Industry is poised for a quantum jump in exports by touching the USD 50 billion dollar mark by 2010. Secretary, Textiles Committee, Government of India, Rajib Aggarwal, speaking to newsmen here this evening on the eve of a one-day workshop on different of textile industry, said till last year the annual rate of export of Indian textile was to the tune of USD 15 billion, but thanks to globalisation and some positive steps taken by the centre the ammount of growth in export was inc

Gujarat Heavy Chemicals Ltd (GHCL) has acquired over 90 per cent of the US-based home textile major Dan River Inc for $17.5 million. It has also taken over debt worth $36 million of bondholders and in addition a working capital loan of $40 million. Thus the sum total works out to approximately $93 million. The acquisition was made through GHCL? international subsidiary. The acquisition would be funded through the recently concluded FCCB issue proceeds, while the existing debt would be refi

With Karachi Cotton Association (KCA) spot rate at Rs 2375 per maund, cotton witnessed average trade where about 10,000 bales changed hands on Friday. Ginners of Punjab were the active sellers, dealers informed. Top mills bought fine lots on higher prices even as quality Punjab lint fetched over Rs 2425 per maund. Certain exporters brought some of their stocks in the market to fetch better rates for their substandard quality lots, said a senior broker. Physical prices were ranged Rs 23

Foreign Cotton Consumption Growth Continues:The latest US Department of Agriculture (USDA) cotton projections for 2005/06 indicate that foreign cotton use is forecast at nearly 108.9 million bales, a record. While world cotton consumption has grown more than 27 million bales since 1997/98 to about 114.9 million, US mill use has declined over 5 million bales and is expected to be the lowest since 1984/85.US mill use has fallen rapidly from its peak in 1997/98, while cotton consumption in various

The Indo Rama Group informed that the company is looking options to restructure subsidiary Indo Rama Textiles (IRT), which could include putting the company on the block.The group is planning to concentrate on the development and manufacture of polyester yarn through Indo Rama Synthetics and look at growing the business further, sources said. It is also learnt that the group has mandated global accounting and consulting firm Ernst & Young to devise the blueprint for the restructuring exercis

French fabrics show, Texworld, will extend more space by 16 percent at its upcoming event next year in a step to enter new companies to the event.The exhibition has leased two new halls with a total space of 3,200 square metres in close proximity to the CNIT Paris La Defense exhibition centre, where it occupies six halls. The further extension brings the total space of Texworld to 23,500 square metres.The exhibition, which runs alongside fabrics event Premiere Vision, focuses on collections from