Turkish textile producers who have been designing their collection for Russian consumers who have been loyal consumers to Turkey for years are likely to diversify their export partners, as Moscow has been prompted to introduce a number of economic sanctions against Turkey in retaliation following the jet crisis. With Turkey's textile manufacturers being forced out of Russia, they are trying to find new buyers which is good news for Lithuanian clothing producers. The Turks, who until rece

Pakistan cotton market failed to attract buying from spinners on Saturday due to sharp fall in cotton crop production leaving the market with slow trading activity. The slow activity kept prices steady at overnight level and sluggish demand from spinners is expected to continue even for the rest of the season, according to floor broker. The Karachi Cotton Association (KCA) spot rates also remained steady at overnight level. A major factor affecting trading activity is the financial crisis

For the 2015/2016 season, shorn wool production estimates have been revised to 322 million kgs greasy, down 7.0 per cent from the final estimate of 346 million kgs for the 2014/15 season. According to the Australian Wool Production Forecasting Committee (AWPFC), this reflects a combination of a 4.8 per cent fall in shorn sheep numbers and a 2.3 per cent drop in average fleece weights.“This decline is from the Committee's final estimate of shorn wool production for 2014/15 at 346 million kgs,

Vietnam's local garment industry that depends on imported material from abroad, especially from China which accounts for 50 percent of the material for the industry’s production. Also most of the machines, chemicals and textile dyes that Vietnam's garment industry uses need to be imported. That means the supply chain remains the weak point in Vietnam's garment sector for which it has taken a small step to join the processing stages of cutting and sewing in the global supply chain, said Vu Duc Gi

The landmark free trade agreement between China and Australia came into effect officially on Sunday (December 20), giving competitive advantages for exporters and investors from both countries into each other's market. The China-Australia Free Trade Agreement (ChAFTA) enables more than 86 per cent of Australia's goods exports to China duty free, worth more than $65 billion. Once the agreement is fully implemented in four years, 96 per cent of Australian goods will enter China duty free, wh

Sri Lankan apparel sector expects the return of European Union's trade concession GSP Plus which is likely to balance out potential effects from the TPP agreement, the biggest global trade agreement in two decades. Sri Lanka's Industry and Commerce Minister Rishad Bathiudeen speaking at his Ministry's annual Ransalu textile expo inauguration event on 18 December at BMICH in Colombo stressed that the Trans Pacific Partnership (TPP) agreement signed in early October needs to be studied further

China and South Korea will cut tariffs on certain traded goods as the free trade agreement (FTA) between the two countries came into force on Sunday (December 20). The FTA aims to eliminate all tariffs eventually with gradual removal of barriers through the years. The two countries concluded talks on the FTA in November 2014. Seoul believes the FTA will enable South Korean companies to expand substantially in the world's largest consumer market and boost bilateral relations in trade and ec

A press conference was held by Hikmet Eraslan, CEO of Dosso Dossi Holding to kick off the biannual Dosso Dossi Fashion Show in the resort city of Antalya. Speaking at the press conference, Erasland said that textile firms from China, India, Italy and others to boost its presence in the Russian marketing have starting meeting business delegations in Russia in a bid to utilize the absence of Turks in the market, following the jet crisis, wherein Turkey shot down a Russian fighter jet over an airsp

China, the world's top cotton consumer, will produce 5.6 million tonnes of the fibre in 2015, down 9.3 percent from the previous year, said the National Bureau of Statistics on Friday, blaming the decline on a drop in planted acreage for this year's crop. The figure is higher than recent trade estimates, many of which put this year's cotton output at less than 5 million tonnes after poor summer weather pulled down yields. "Considering the inventory and poor domestic consumption, (the output

THE yuan yesterday weakened for the 10th day against the US dollar as China’s central bank set the official reference rate at the lowest since 2011 following the US interest rate hike. The yuan fell 0.16 percent to close at 6.4837 against the US dollar in Shanghai. It is the second time since November that the yuan has been weakening for 10 straight days. The People’s Bank of China yesterday set its official central parity rate at 6.4757 per dollar prior to the market open, its weakest sin