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South Korean textile firm Samil Spinning to buy Buhler Quality Yarns

Samil Spinning Co., a textile company based in South Korea, has agreed to buy US-based Buhler Quality Yarns, the Korea Trade Investment Promotion Agency (Kotra) said. Buhler Quality Yarns, an American subsidiary of Switzerland’s 205-year-old yarn manufacturer Hermann Buhler, is known for its strong customer base and high quality products.   The company’s decision to acquire 100 per cent stake in the US peer came after America backed out from Trans-Pacific Partnership (TPP), in which […]

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‘Human rights’ factor may hold back EU-Vietnam FTA

The European Union (EU) and Vietnam had signed the Free Trade Agreement (FTA) in December of 2015. However, the European Parliament and the legislatures of all EU members have still not approved the agreement for it to take effect. The EU-Vietnam Partnership is based on the respect of human rights and democratic principles, yet the FTA is being fast-tracked with hardly any attention on human rights. The Government in Vietnam faces pressure from European lawmakers […]

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FTA shows concern over Syrian refugees in Turkish garment industry

The Foreign Trade Association (FTA), leading business association for global commerce, in collaboration with Otto Group, El Corte Inglés, ESPRIT and other FTA members and BSCI participants, has launched an initiative to improve working conditions of Syrian nationals in Turkish supply chains. Companies sourcing from Turkey, UN agencies, NGOs, academic bodies, associations came together to discuss joint solutions and agreed on a roadmap for collective action. According to current estimates, there are between 250,000 and […]

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Home Furnishing will be 70 per cent of Group Revenue by 2018 for Trident

Celebrating 25 years of its journey, Trident Group from Ludhiana has risen to become the world’s largest manufacturer of terry towels. Not many textile companies can claim to be world leaders, but this US $ 1 billion Indian business conglomerate, whose almost 46 per cent share is coming from home textiles business, is looking to increase the share to 70 per cent by 2018. Confident of the future, Rajinder Gupta, Chairman of the group shared […]

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Two landmark votes, one outcome – Uncertainty!

Prior to any major election, referendum, vote…, the so-called expert team of analysts start their ‘guessing games’ hinting at directions and likely results. Well, this year they got it all wrong… Two of the biggest popular vote decisions went against what is believed as popular sentiments. The reasons for the predictions going wrong may be in millions, but the truth is that the results of the Brexit vote and US presidential election created a global […]

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India-EU FTA to yield better results for apparel sector: Report

A Free Trade Agreement (FTA) between India and the EU (European Union) will yield better results for Indian apparel sector, claimsCII-BCG report. The EU accounts for 49 per cent of India’s total apparel exports and is also the largest trading partner of the country. According to the report, development of infrastructure by State Governments in India with plug and play facilities will be crucial. “Duties and taxes must be rationalised to avoid inefficiencies and high […]

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Home furnishing industry positive for 2017, but was not so happy last year

The home industry has been in focus of late and amidst the extension of garment sector benefits to made-up units, dull market sentiments and shocking news of Target Corp. terminating business relationship with Welspun India for passing off cheap cotton sheets as made from premium Egyptian Cotton, for most of the exporters, 2016 was just about satisfactory. The good thing though is that a majority of them are enthusiastic about 2017 and clear about their […]

January 20, 2017

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FTA appoints new US, Canada representative

The Foreign Trade Association (FTA), leading business association for global commerce, has announced the appointment of Kelli Hoggle as the new country representative to provide its members located in Canada and the US direct support and guidance on the implementation of its two flagship sustainability programmes – the Business Social Compliance Initiative (BSCI) and the Business Environmental Performance Initiative (BEPI). Kelli will also assist FTA members sourcing from the region and actively engage with producers […]

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Vietnam Textile Chemicals Market to grow at CAGR of 16% during 2016-25

The textile chemicals market in Vietnam is anticipated to grow at a CAGR of over 16 per cent during the period 2016-2025, according to a report by TechSci Research – ‘Vietnam Textile Chemicals Market By Product Type, By End Use Application, Competition Forecast and Opportunities, 2011 – 2025’. This growth rate is expected on account of higher living standards of consumers and growing demand for fine fabric items coupled with increasing number of industrial setups […]

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EU, Japan pushing for EPA/FTA

Euratex, the European Textile and Apparel Confederation along with Japanese Textile Federation (JTF), both representing textile and clothing industry of the EU and Japan, have released a joint statement strongly urging the parties involved in Economic Partnership Agreement/Free Trade Agreement (EPA/FTA) negotiations to seal the deal at earliest. The statement further stated that the textile and clothing industry is growing worldwide and operating in a very competitive environment, and the EU and Japan are still […]

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EU-Vietnam FTA to benefit both parties

According to EU trade negotiators, experts and business leaders, EU’s Free Trade Agreement (FTA) with Vietnam will not only boost growth and create jobs in the European retail sector, but will also help in strengthening Vietnam’s economy. Among key export items from Vietnam, garments and textiles witnessed an increased turnover of US $ 15.5 billion, up 4.2 per cent year-on-year in the first eight months of 2016, and footwear fetched US $ 8.6 billion, up […]

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Cambodia seeks FTA with UK

At a recently held meeting between Cambodia and Britain, the sole topic on the table was the much-anticipated Free Trade Agreement (FTA) between the two countries following ‘Brexit’.  The Cambodian Commerce Minister Pan Sorasak pushed for a speedy deal in a bid to strengthen their bilateral trade and economic ties during the meet. British Ambassador to Cambodia Bill Longhurst has advised the Minister to wait until the end of 2016 or early next year to […]

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Sri Lanka to focus on ‘apparel’ during trade talks with India

Government of Sri Lanka is aiming to get duty-free access to the Indian market for its apparel products during talks on free trade deals scheduled to start next week. Minister International Trade and Strategic Development, Malik Samarawickrama said, “We will ask for the total abolition of the quota for garments and the enhancement of the quota for tea. India allows only 8 million pieces of apparel per year. This is too small. Among other issues […]

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Intex South Asia 2016 begins this November

Intex South Asia 2016, South Asia’s only international sourcing fair which showcases the best in yarns, apparel fabrics, denims and clothing accessories from across the world, will take place in Sri Lanka from 16th to 18th November, 2016. The fair would provide exhibitors a platform to bring to notice the apparel manufacturing capabilities of the South Asian region, which is already the second largest garment manufacturing and exporting hub in the world. It may be […]

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Vietnamese textile exports up 5.1% in H1 ’16

Vietnam’s textile and garment exports witnessed a surge of 5.1 per cent to US $ 10.7 billion in the first half of 2016, the slowest pace since the year 2010. The industry experts attribute this to the rise of new suppliers in the global market. Although there hasn’t been a cut back on purchases from the buyers, there has been a shift towards other manufacturing destinations like Bangladesh, Cambodia, Laos and Myanmar due to lower […]

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