A file photo shows women working with machine to produce textile yarn at a factory. Bangladeshi workers are often recognised for performing manual production at lower cost than automated production Japanese ambassador to Bangladesh Shiro Sadoshima yesterday said attention of a larger number of Japanese businessmen towards Bangladesh is growing due to its low-labour cost. “This year enquirers from Japan about Bangladesh have almost doubled and the number of missions has drastically increa

Depress condition persisted on the cotton market on Monday despite the purchasing of cotton by the Trading Corporation of Pakistan (TCP), dealers said. The official spot rate maintained overnight level at Rs 4,800, they added. In the ready session, around 20,000 bales of cotton changed hands between Rs 4600-5100, they said. In Sindh, rates were at Rs 1600 and Rs 2400, in Punjab prices were at Rs 2200 and Rs 2600, they said. Some brokers said that present condition in the market is not much d

Japan’s Fukui prefectural government plans to invest in the garment and functional textiles industry to expand its business in Thailand for which they have entered into an agreement with Thailand's Industry Ministry, said Arthit Wuthikaro, the ministry's director-general for the development of industrial promotion. The total value of investment from Fukui in Thailand amounts to 10 billion baht with 28 companies operating 11 factories.The agreement is part of Japan's policy to promote and sup

Chinese businessmen are showing interest to invest in the ginning and textile sectors of Pakistan, said former chairman of Pakistan Cotton Ginners Association (PCGA) Masood A. Majeed, who visited China. Chinese investors have agreed to relocate their yarn-making industry in Punjab, provided infrastructure bottlenecks were removed by the government. He urged the government to relocate 200 spinning mills in Punjab, allow leasing of land at $8,900 per acre per annum and provide electricity at 1

The 20th anniversary edition of Intertextile Shanghai Apparel Fabrics which ran from October 20-23, 2014 saw record number of visitors and also exhibitors from the previous editions. A total of 3,844 exhibitors from 30 countries and regions took part, up 2 per cent compared to 2013, while 71,138 visitors from 93 countries and regions attended the fair, also a 3 per cent rise from last year.The top 10 visitor countries and regions, excluding China, were Hong Kong, Korea, Japan, the US, Taiwan, T

A free trade agreement between South Korea and China could knock down Taiwanese textile exports to China to the tune of US $324 million per annum. According to the Taiwan Textile Federation (TTF), through the FTA, 85 per cent of South Korean textile exports to China may be granted duty-free status in the future,” Focus Taiwan reported.TTF conservatively estimates the loss to Taiwanese textile exports to China at $324 million or even more, once the FTA between South Korea and China is implemente

The country’s apparel exporters are feeling a pinch of the sanctions imposed on Russia by the United States and the European Union over Ukraine issue. The sanctions have no direct impact on the export of Bangladesh but they have an indirect impact as some of the Russian importers are facing hassle following some Russian banks being blacklisted by the US and the EU. The US and the EU issued sanctions on some Russian big banks including Sberbank of Russia, the country’s largest bank, and Gazp

RMG factory owners allegedly said the global retailers’ platforms, Accord and Alliance, are allegedly asking them to procure safety equipment from a certain company and conduct detailed engineering assessment by certain farms. According to Bangladesh Garment Manufactures and Exporters Association (BGMEA), the allegations came from the factory owners that installed fire doors and needed to carry out the Detailed Engineering Assessment (DEA). “We are receiving several allegations from the fa

Chief Minister Shahbaz Sharif has said that he would not let the Punjab-based textile industry close down during winter due to energy shortage and arrangements similar to last year would be ensured by the government. He was talking to a delegation of APTMA, PTMEA, APTPMA and PRGMEA under the leadership of Chairman APTMA S M Tanveer. Federal Textile Minister Abbas Khan Afridi, Group Leader APTMA Gohar Ejaz, Chairman APTMA Punjab Seth Muhammad Akbar, Vice Chairman APTMA Wisal Monnoo and Group Le

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