News Tags

Related Keywords: both nations reluctant, cotton yarn, exportable products, Free Trade Agreement II, grey fabric, Pakistan and China, Pakistan major exports to China, revival of preferential tariff, specific concessions, trade concessions, trade deficit, woven fabric

In the seventh round of meeting held by Pakistan and China on trade concessions, after the stalemate of one year over reaching an agreement on the revival of preferential tariff on exportable products for each other, both the nations are reluctant to give specific concessions to each other in the Free Trade Agreement II.

Related Keywords: fashion cotton textile, garment fabric, grey fabric, plunge in profit, prices, production and distribution, spun yarn, Texhong Textile group, weak yarn sales, yarn manufacturer

Texhong Textile Group Ltd, Hongkong listed yarn manufacturer engaged in the production and distribution of quality yarn, grey fabrics and garment fabrics, especially of high value-added core-spun yarn and fashion cotton textiles has posted a plunge in profits for the first half of this year.

The plunge in profit was mainly due to weak yarn sales prices in the mainland China market and the depreciation of the yuan against the US dollar, the company noted in its interim results filed with the Hong Kong Stock Exchange yesterday.
 

Related Keywords: grey fabric, powerloom

In Faisalabad, there are over 250,000 home based power looms and most of them are producing grey fabrics for local consumption with very limited capital and are not aware of the international market requirements. These small millers with the support of the textile tycoon are now turning to exporters.

Pakistan is one of the major exporters of grey fabric after Chinese exporters opted out due to closure of weaving factories in China due to expensive labour and expensive raw material, the buyers were moving to the regional countries for the import of grey cloth.