At the second edition of the Leatherworld Middle East 2016, which concluded recently in Dubai, global tanners and manufacturers witnessed a growing appetite for luxury spending in the Gulf countries. The shrinking demand of luxury goods in countries like Russia and China has affected the entire leather supply chain and hence many global investors are eyeing the Middle East, as a growing market with a strong demand for luxury leather products. “The high-end luxury feel was evident througho

The Vietnam Textile and Apparel Association (Vinatas) at the working session with the US Cotton Association urged the US cotton manufacturers to think about a plan to set up a cotton bonded warehouse in Vietnam, as it would benefit the Vietnamese textile industry by way of cut transport and protection costs. US cotton has been favored by Vietnamese textile enterprises and used in a large scale. Truong Van Cam, deputy chair and secretary general of Vinatas explaining the proposal said that

The China National Development and Reform Commission or NRCD a few days ago announced that they would begin selling a portion of China’s estimated 58 million bales of reserve stocks beginning in early May. According to the NRCD, 2 million metric tons (the equivalent of about 9 million 480-pound bales) will be offered for sale in 2016. Only a set amount can be purchased daily, apparently to avoid giving the appearance China is dumping cotton on the market. According to Dr. Jody Campiche, th

In March 2016, all types of filament yarns export aggregated 34.7 million kg, declined 10.5 per cent YoY while value was down 17.1 per cent to US$54.3 million. Filament yarns include polyester, nylon, polypropylene and viscose filament yarns and were exported to 77 countries during the month. More than 89 per cent of filament yarns were of polyester, of which, DTYs were the largest at 70.2 per cent. Brazil and Turkey continued to be the major importers of polyester filament yarns, followed b

At the working session with the US Cotton Association, the Vietnam Textile and Apparel Association (Vinatas) asked the US cotton manufacturers to think about a plan to set up a cotton bonded warehouse in Vietnam. US cotton has been favored by Vietnamese textile enterprises and used in a large scale. Explaining the proposal, Truong Van Cam, deputy chair and secretary general of Vinatas, said the cotton price always fluctuates, while Vietnamese spinning enterprises have to import cotton from

Sri Lanka and China will hold high level discussions in June on the possibility of signing a bilateral Free Trade Agreement (FTA), Sri Lanka's Ministry of Industry and Commerce said in a statement here on Monday. "China is a promising market for Sri Lanka's select, premium products such as gems, and an important round of bilateral talks on Sri Lanka-China FTA is scheduled for next month," the statement quoted Rishard Bathiudeen, minister of Industry and Commerce, as saying. The minister sa

The Shanghai International Cotton Trading Center officially opened at a ceremony in Shanghai on March 28. The center received 100 million yuan ($154,500) of investment from Shanghai Textile Group and will cooperate with its domestic and foreign counterparts to promote itself. As one of the eight commodity markets in the Shanghai Free Trade Zone (FTZ), the center will ensure the safety of capital and goods, improve transactional efficiency and mobilize the enthusiasm of enterprises to parti

As Bangladesh lags behind Vietnam, Cambodia and Indonesia in competitiveness, a rise in Chinese apparel prices would offer more benefits to the Southeast Asian countries, according to a World Bank report released on Monday. According to the report, a 10 per cent increase in Chinese apparel prices would raise the Southeast Asian countries’ export to the US by 37-51 per cent, while the export of South Asian countries would grow by 13-25 per cent (depending on the country) due to barriers to imp

Readymade garment sector has called upon the National Board of Revenue to reduce tax at source to 0.3% from existing 0.6% on export of apparel products. It also requested the NBR to consider it to be the final settlement from the budget for fiscal year 2016-17. Representatives from Bangladesh Garment Manufacturers and Exporters Association (BGMEA), Bangladesh Garments Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA), Bangladesh Jute Goods Exporters Association an

Denim fabrics and products in Bangladesh have embodied constant evolution over the years with the blessings of latest technology and innovative designs, industry people said. They made the remarks at the opening ceremony of a two-day Bangladesh Denim Expo in the capital yesterday. Denim Experts Limited is hosting the event. “We believe that denim fabrics and denim products are under constant evolution because of strong technological influence and the new generation’s choice to change denim