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Indonesian textile industry optimistic of reaching US $ 12 billion this year

The first quarter of 2017 has witnessed an export increase of about 3 per cent to US $ 2 billion for Indonesian textile industry. “One of the factors instrumental in improving the performance of the Indonesian textile industry was the US decision to exit the Trans Pacific Partnership (TPP). We can optimistically reach US $ 12 billion more until the end of 2017 although global market scenario today is as better as it was 2 […]

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Vietnam gains in apparel exports to US

Despite changes in import policies and decision on pulling out of TPP by the US Government, the South-east Asian country Vietnam – one of the major apparel exporters to the US – remained unaffected and registered rise in its apparel exports both in values and volumes during January to February period of the current year. Value-wise, Vietnam noted a surge of 4.05 per cent to reach US $ 1955.06 million versus US $ 1878.90 million […]

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Vietnam sees surge in FDI from China

According to Foreign Investment Agency data, Vietnam has witnessed a rise in Foreign Direct Investment (FDI) from China in the first two months of 2017. In January and February, Chinese investors have registered to implement 123 projects in the country. The US $ 220 million Billion Vietnam polyester synthetic fibre plant in central Tay Ninh province is among the Chinese investments during the period. “Chinese investments are likely to continue,” avers Le Xuan Nghia, Local […]

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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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Vietnam’s PM set to visit US to promote ties

Prime Minister of Vietnam Nguyen Xuan Phuc will visit the US soon and has expressed hopes to work with the newly elected US President Donal Trump, especially with regard to trade. His visit to the US therefore holds significance. Despite the Trans Pacific Partnership (TPP) agreement being cancelled by Trump, Vietnam has been building relations with the US amidst a marine dispute with China. Phuc has also expressed his wish for the US to continue […]

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Texhong Textile Group marks record profit; expresses concern over Trump effect

Shanghai-based Texhong Textile Group, one of the world’s largest yarn suppliers (head-quartered at Hong Kong), has reported to achieve 13.647 billion yuan (US $1.98 billion) till December 2016, up 29 per cent from the year before. Net profit attributable to shareholders has more than doubled to 1.187 billion yuan. The robust growth and improved margin were supported, as per the company’s press conference, by a bottoming out of the cotton price which also pushed up […]

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World clothing exports may suffer: IAF Chief

The recent geo political tensions, polarization and populism in a growing number of countries may impact world exports in clothing, stated International Apparel Federation President Han Bekke. “This could easily lead to protectionism and import duties and with that it will not only affect the world exports in clothing (approx. US $ 450 billion), but also the position of many companies and workers worldwide,” said Han Bekke while addressing the China-Asia Textile Forum 2017 in […]

March 14, 2017

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Kenya still in competition due to US’ pull out from TPP

Relieved from the stiff competition it would have faced after Trans-Pacific Partnership Agreement (TPP) implementation, the Ministry of Trade at Kenya has welcomed the move by US President Donald Trump to withdraw from the pact saying the TPP would have hit hard the Africa Growth Opportunity Act (AGOA) through which Kenya exports to USA duty-free. Trade Principal Secretary Chris Kiptoo said, “The withdrawal of this trade deal by Trump is good news for Kenya, especially […]

February 6, 2017

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Indonesian T&C industry to benefit from US’ TPP withdrawal

Withdrawal of the USA from Trans Pacific Partnership (TPP) has bring a sigh of relief to Southeast Asian countries like Indonesia, the Philippines, Cambodia, Laos, Thailand and Myanmar. The benefit of being TPP members, Vietnam and Malaysia were exempted from import duty while Southeast Asian countries were subjected to 10 per cent import duty. But the case is not so now because of US President Donald Trump. Also Read – US President Donald Trump signs […]

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US President Donald Trump signs order to withdraw from TPP

US President Donald Trump has formally withdrawn the country from the Trans-Pacific Partnership trade deal by signing an executive order, thus distancing the US from its Asian allies as China’s influence in the region rises. “Great thing for the American workers,” said Trump. It may be noted that the signing of the order has sparked worries in Japan and in the Asia-Pacific regions. He also met a dozen of American manufacturers, pledging to slash regulations and cut […]

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TPP won’t affect Vietnam T&C exports to USA: VITAS

Vietnam’s textile & garment export turnover to the USA would increase by 30-40 per cent in the first year of the TPP agreement implementation and would increase by twofold after three to four years. Truong Van Cam, Secretary General, VITAS is sure of Vietnam’s T&C exports to the US increasing, with or without TPP. In the month of October last year, Vietnam exported US $ 9.476 billion of T&C products to the US. Analysts estimate that […]

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Lectra Vietnam: Strategies and challenges of an evolving market

“Lectra’s DNA has been to directly manage the business, but south-east Asia was an exception, owing to the size of the countries and the fact that it was not financially viable to have a subsidiary in each country,” says Yves Delhaye, Director – ASEAN (Australia, South Korea, India) at Lectra. But over time things have changed, after starting operations in India in 2007-08 and in Korea two years ago which had been a success, coming […]

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Review VTG 2016: Speculations about the fate of TPP cast shadow over the exhibition

The recently concluded VTG 2016 held at the Saigon Exhibition & Convention Center (SECC) in HCM City, saw 400 exhibitors from 20 countries spread out over 550 booths, displaying the latest in garment sewing and value-added technology. Also present were companies offering yarns, fabrics and accessories, amongst which Texprocil India had a prominent presence with 16 exhibitors, mostly offering cotton products. The other countries that made their presence felt were Vietnam, Australia, Thailand, Singapore, Japan, […]

December 30, 2016

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Vietnam poised for growth with or without TPP…

The impact of the proposed Trans-Pacific Partnership (TPP) on the Vietnamese economy and apparel trade is a subject of constant debate. Many experts believe that Vietnam’s membership in the TPP will yield economic benefit. The most obvious interpretation is that the country’s textiles and apparel industry will enjoy expanded access to the US and Japan markets through reduced tariff duties once it has been enacted, accelerating foreign direct investment into the country. However, as highlighted […]

November 29, 2016

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Donald Trump likely to withdraw from TPP, India may gain

United States newly elected President, Donald Trump reportedly said that the US will quit the Trans-Pacific Partnership (TPP) trade pact on the first day in the White House. The trade pact that involves 12 Asia-Pacific nations including major economies like Japan, Australia, New Zealand and Canada with a collective population of 800 million, if ratified would have covered nearly 40 per cent of the global economy. While mentioning that his agenda would be putting “America […]

November 25, 2016

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