The Pakistan textile ministry to attract investments into the industry is working on a special package to convert basic textile into value addition. Also every effort are being put in to declare the upcoming fiscal year 2014-15 as the year of textile industry in Pakistan as they stand firm on increasing textile exports by twofold to $ 26 billion by 2018.
Gildan Activewear, a Canadian manufacturer and marketer of branded clothing, also owns and operates vertically-integrated, large-scale manufacturing facilities which are primarily located in Central America and the Caribbean Basin. As part of its expansion plan, to build textile manufacturing plant in the northwestern province of Guanacaste, Costa Rica.
South Korea and Canada are all set to augment their exports by joining hands under the Free Trade Agreement (FTA).The fresh new joint declaration is all set to boost the attire and footwear trade of both the nations.
According to Canada’s Department of Foreign Affairs, Trade and Development it is the country’s first agreement with an Asian nation .They expect the pact to boost Canadian exports by 32%, adding C$1.7bn to the domestic economy. This will help the Canadian firms to participate in the business chase with chiefly South Korea, the US and the EU.
Chinese companies are studying the trading cost in order to fetch as well as relocate their units to Pakistan in order to grab the opportunity oozing out of GSP plus status. Chinese delegation has recently visited Pakistan to assess the investment potential in Pakistan as many Chinese companies are all set to invest in Pakistan's textile industry
The All Pakistan Textile Mills Association (APTMA), has claimed that energy supply to textile industry has resulted in 21 percent increase to $215 million in December to December period and now APTMA is hopeful to achieve $3 billion exports out of the capacity, which was earlier closed.
Aptma’s zonal chairman SM Tanveer said on Wednesday that increased supply of electricity and gas to the industry in Punjab had resulted in growth of textile and clothing exports.
Textile finishing with both an antiviral and an antibacterial function has been developed for the first time by scientists from the Hohenstein Institute in Bönnigheim, as part of an AiF research project. The research project bring to light that antiviral cleaning cloths provide an efficient hygienic effect and can help to reduce the germ transfer rate.
Vietnamese government in the negotiating process of the Trans-Pacific Partnership (TPP), has given garment and textile utmost preference, as it saw an export revenue increase of 18.6 percent year-on-year. In 2013, Vietnam earned 17.98 billion U.S. dollars from selling garment products to overseas markets, according to Vietnam's Statistics Office (GSO).
The cotton prices last month saw a rise, by Rs 2,500 a candy (356 kg) due to the soaring demand from mills and exports. At the same time, restricted selling by farmers was seen as one of the reasons for inflation in cotton prices. According to industry sources, prices moved up from Rs 38,300-38,500 a candy to Rs 40,800-41,000.
As per Arun Dalal of Arun Kumar & Co, a leading cotton trader from Ahmedabad, due to improved export, there has been a heavy rise in demand from domestic mills. To create stock, domestic yarn mills also bought cotton in large quantities during December.
Haryana chief minister Bhupinder Singh Hooda on Monday announced to reduce Value Added Tax (VAT) on textile products and carpets, druggets, woollens, durries, cotton floor durries and rugs from 12.5 % to 5 %. This would benefit the traders to the tune of about Rs 150 crore.
