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Related Keywords: Abbas Khan Afridi, Economic Coordination Committee, Federal textile board, GSP Plus scheme, MINTEX, multi-pronged strategy, Pakistan Central Cotton Committee, Pakistan textile policy, textile business community, textile cess, textile exports

The Secretary Ministry of Textile Industry (MINTEX) at the first meeting of Federal Textile Board held on Monday after its reconstitution in July 2014 chairing by Minister for Textile Industry Abbas Khan Afridi announced that the Pakistan’s textile policy would be presented in the next Economic Coordination Committee (ECC) of the Cabinet meeting also restructuring of Pakistan Central Cotton Committee (PCCC) was also on cards.

Related Keywords: down shutters, drop in order flow, IJMA, illegal import, Indian jute producers, JPMA, jute demand, Jute geotextiles, large-scale unemployment, reduced shifts, West Bengal jute mills

Jute demand has been on a down slide forcing many jute mills in West Bengal to down their shutters or go for reduced shifts. There has been a production cut of 30 to 40 percent in the last few months because of drop in order flow.

According to industry officials, jute mills in West Bengal are running at 60 per cent of their capacity and about one lakh workers have been rendered jobless. West Bengal has 64 of the 84 jute mills in the country.

Related Keywords: biggest garment supplier, Itochu Corp, Japan, multi-sectoral conglomerate, second-biggest cash earner, state-run Vietnam National Textile And Garment Group, trade pacts, Trans-Pacific Partnership, Vinatex

Itochu Corp, the third largest multi-sectoral conglomerate in Japan acquires 5 percent stake in the state-run Vietnam National Textile And Garment Group (Vinatex) with a purchase price of more than 1 billion yen (US$9.25 million).

Itochu Corporation became the first non-Japanese financial institution to invest in a big state-owned enterprise (SOE) of Vietnam. Itochu acquired a certain percentage of Vinatex's shares through public trading channel, not as a strategic investor, confirmed Tuoi Tre, Tran Quang Nghi, Chairman of Vinatex.

Related Keywords: anti-dumping duty, Indo Rama Synthetics, Mitsubishi Chemical, polyester fiber and yarn, polyester producers, PSF manufacturers, PTA, PTA User Association, Purified terephthalic acid, raw material, RIL

The decision of purified terephthalic acid (PTA) producers like Reliance Industries Ltd (RIL) and Mitsubishi Chemical to increase prices by a steep Rs 2,100 a tonne from August 1 - just a week after the new government imposed anti-dumping duty on the product despite stiff opposition from the user lobby have added yet another chapter to their long-drawn battle.

Related Keywords: business seminars, Danish Pakistan relation, Danish trade delegation, GSP status, investment and trade, Pakistan, Pakistan business community, textile and energy sector, trade and innovation

A Danish trade delegation visit Pakistan to explore opportunities for investment and trade in various sectors but see great potential especially in textile and energy sectors of Pakistan.

There is great scope for Danish companies to establish their concerns in Pakistan with technology and land at low cost. Moreover, Pakistan has been given the Generalized System of Preferences (GSP) status by the European Union making it more attractive for sourcing companies, especially in the textile sector.

Related Keywords: Asean, EU and US market, EU import-duty privileges, flat growth rate, garment export, GSP, Japan-Thailand Economic Partnership Agreement, Thai garment industry, Thai Garment Manufacturers Association, uncertain economic outlook

Due to the uncertain economic outlook in some major markets , and in the European Union and the United States in particular, Thai garment exports likely to see relatively flat growth in a range of zero to 5 percent next year against expansion of 2-3 percent this year, according to the industry.

Besides deflation in EU countries and concern over the pace of recovery in the US, the forecast also takes into account the loss of EU import-duty privileges for Thai garments early next year.

Related Keywords: biomaterials business, carpets, Dupont, DuPont Sorona, fiber applications, home furnishings, Kinston facility, nylon 6, polymer plant, Sorona

DuPont plans to invest $30 million over the next three years and create 18 new jobs at its facility in Kinston, N.C. The company’s Kinston site produces DuPont Sorona renewably sourced polymer.

Sorona is made in part from annually renewable plant-based ingredients and is used primarily in fiber applications, including textiles used in apparel, home furnishings, and for carpets, including residential, commercial and automotive carpets and mats.

Related Keywords: basic textile, bedwear, export growth, Knitwear, non value added, Pakistan Bureau of Statistics, Pakistan textile players, Pakistan textile sector, Pakistan value added textile, readymade garment, spinning based exports, spinning sector

Pakistan value-added textile exports has witnessed growth by 10pc touching $2.3bn in the first quarter (July-September) of this fiscal year compared with $2.1bn a year ago. While on the other hand, spinning-based exports (non-value added) continue to decline by 15pc to $1.2bn from $1.4bn which were offset by higher exports of valued-added segment (bedwear, knitwear and readymade garments) as per the latest data released by the State Bank of Pakistan.

Related Keywords: alpaca, expotextil, fleece, fur, jockey plaza, lima, magali silva, mincetur, ministry of foreign exchange and commerce, Peru, Textile

Peru is home to 90% of the alpaca population worldwide therefore the animal fiber which is lustrous and silky natural fiber proves to be a great export for the nation´s economy. This year, as of June fine alpaca products created a US$ 72.6 million revenue, according to El Comercio.

It is one of the finest luxury fibers in the world. Baby alpaca—so silky soft and velvety smooth to the touch it was once reserved for Inca royalty.

Related Keywords: capitalize benefits of GSP plus, EU, joint seminar, Pakistani bussinessmen, PITAD, President RCCI Asad Mashadi, RCCI, textile sector, trade market

A joint seminar was organised by the Rawalpindi Chamber of Commerce and Industry (RCCI) and Pakistan Institute of Trade and Development (PITAD) at RCCI on Friday to create awareness on capitalizing the benefits of GSP Plus given by EU.