China’s Ministry of Finance has announced the sliding-scale tariff plan for import of cotton in 2014. The tariff, applicable for cotton imports excluded from volume under import quotas, is as follows: A. If the cotton import quoted price equals or exceeds 15,000 yuan per ton (equivalent to 110.98 US cents per lb based on US$/RMB exchange rate of 6.1305), the unit tax of 570 yuan per ton will be applicable. B. If the price of imported cotton is below 15,000 yuan per ton, the sliding-scal

The exports of garments and textiles from Vietnam reached US$ 16.241 billion during the first eleven months of the current year, according to the statistics released by the General Department of Customs, Vietnam’s Ministry of Finance. Of the total textiles and garment exports of US$ 16.241 billion made by Vietnam, fabrics accounted for only US$ 648.23 million. From January to November 2013, Vietnam’s garments and textiles exports to the US stood at US$ 7.782 billion, followed by Japan with

Japan-based Nitori Holdings Company is set to invest US$ 550 million in Tanzania’s cotton farming and related industries, Daily News Tanzania reported. The Japanese company has secured 40,000 hectares of land for commercial cotton farming in Handeni District, where the company will also set up a processing plant in addition to growing cotton, according to Gabriel Mwalo, acting director general of Tanzania Cotton Board (TCB). Speaking at a TCB forum, Mr. Mwalo termed the acquisition of land

RMG entrepreneurs need help to ensure that they can keep growing exports, while also managing to invest in commitments to improve factories and working conditions The finance minister has assured leaders of the BGMEA, BKMEA and BTMA that the government is looking at measures to support apparel makers affected by the political crisis. Many of the measures being sought by the industry bodies relate to short to medium-term financing needs. With the supply chain enduring massive disruption, c

There is no better time than the present for the Indian textile industry to capitalise and grow, Prem Malik, Chairman, Confederation of Indian Textile Industry, New Delhi said. Highlighting the gap between the textile industry in China and India, he said India used to have a larger share of the market in the 50s, but due to policy interventions, the country lost its share. India vs China India’s present share in the global market is just 4-4.5 per cent against China’s 35 per cent in t

Agriculture loss: 118,000 acres is the amount of cotton crop damaged in Punjab during flood and rains in 2013-14. PHOTO: FILE Cotton Commissioner Dr Khalid Abdullah said that the recent floods, water shortage and low market price were the major reasons behind the low production of cotton, adding that Pakistan was likely to miss its production target for year 2013-14. According to a senior official, the government had set the cotton production target at 14.1 million bales for year 2013-14,

A Chinese firm has shown its interest to invest Tk 14 billion forland and infrastructure development of the proposed garmentindustrial park at Bausia in Munshiganj, sources said. The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and the Bangladesh Knitwear Manufacturers and ExportersAssociation (BKMEA) will jointly form a company by December to signa deal with the Chinese company by this month, they added. "A Chinese firm is willing to fund land and infrastructuredevel

Indian textile industry is confident of achieving good growth and exports to cross US$ 40 billion in the current fiscal, said Confederation of Indian Textile Industry (CITI) chairman Prem Malik, during the eighth edition of the textiles machineries, accessories and spares exhibition ‘TexFair 2013’ in the city of Coimbatore, Tamil Nadu. According to Mr. Malik, garment exports from the country are growing at around 16 percent year-on-year, whereas exports of other textile products from the coun

The Ministry of Industry and Trade of Vietnam, with support from the Vietnamese Embassy in Korea and the Vietnam Textile and Apparel Association (VITAS) collaborated with the Korean Textile Association, and organized a seminar in the South Korean capital city of Seoul, in order to promote cooperation between the two countries in the textiles sector. According to a statement issued by the Vietnamese Ministry of Industry and Trade, the ‘Cooperation in Textiles, South Korea-Vietnam’, was organiz

Textile industry needed basic facilities and incentives to improve performance as the European Parliament (EU) had approved Generalised System of Preference (GSP) plus status for Pakistan, dealers said on the cotton market on Thursday. The official spot rate was unchanged at Rs 6,450, they added. Prices of seed cotton in Sindh per 40 kg gained Rs 50 to Rs 2350-3150, while in Punjab rates followed the same pattern, picking up same amount to Rs 2750-3350, dealers said. In the ready session