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Related Keywords: apparel sector, EPCG scheme, export subsidies on textile, India crossed competitiveness, India to phase out, Indian export basket, interest subvenion scheme for export credit, Japan, new foreign trade policy, other countries, Turkey, US supported by EU, WTO member countries, WTO subsidies committee meeting

In the WTO subsidies committee meetings, the WTO member countries, in particular the US supported by European Union, Turkey, Japan and others have asked India to phase out of export subsidies on textiles and the apparel sectors, Parliament was informed today.

As per the WTO data for 2006 and 2007, India has crossed the export competitiveness limit (exports reaching 3.25 percent of the world trade) consecutively for two years in these sectors, this was informed by Commerce and Industry Minister Nirmala Sitharaman in a written reply to the Lok Sabha.

Related Keywords: carpet exports, FTA, hand knotted carpet, handmade carpet, investment cooperation, MoU, Pakistan government, Pakistan textile imports, Pakistani textile and apparel exporter, protect Turkish industry, Turkey

Pakistan has been trying to convince Turkey to waive off or reduce 42.2 percent duty it has imposed on Pakistani textile imports since 2011, but Turkey has always been coming up with a negative response. To this, the government has finally taken decision to end its efforts to convince Turkish government.

Related Keywords: apparel import, apparel of textile material, articles of apparel, causal wear, cloth, cotton fabric (woven), extra custom duty, fashion, FTA, grew at good pace, knitted crochet, mutual trade growth, Pakistan bilateral trade, Pakistan garment, Turkey

Pakistan’s bilateral trade with Turkey grew at good pace and crossed one billion dollar mark in 2010-11, but it started declining after the imposition of safeguard duties in August 2011 by Turkey to protect its domestic industry. The Government of Pakistan had been raising the issue at the highest level with the Turkish officials, but there had been no developments.

Related Keywords: act as an export gateway, Aditya Birla, Assocam, between India and Turkey, broaden business horizon, Custom Union, jute, leather, Mahindras and Mukesh Ambani groups, opened an office in Kolkata, present in Turkey, promote trade and investment, signed MoU, Tatas, TICCI, trade of textile, Turkey, with EU

Turkey has customs union with the European Union and thus acts as an export gateway to the EU. To promote trade and investment between India and Turkey, the Turkish Indian Chamber of Commerce & Industry (TICCI) has opened an office in Kolkata. TICCI has also signed a MoU with Assocam to broaden the business horizon for the two countries

TICCI President Ersin Karaoglan said that the chamber is focusing on automotive spares as well as tourism and education for bilateral business cooperation.

Related Keywords: capacity building in textile sector, economic turnaround of Pakistan, GSP Plus status, Pakistan textile sector, second fastest growing economy, Turkey

Turkey can play an important role in economic turnaround of Pakistan being the second fastest growing economy of the world after China. The textile sector has traditionally been the biggest sector of the Pakistan economy. Studies and surveys confirm that its contribution in total exports are almost 60 percent and it engages almost 38 percent of manufacturing labour force to acquire more than 46 percent share in overall manufacturing. In the context of having won the GSP Plus status, the need of technology improvement and capacity building in textile sector of Pakistan has become necessary.

Related Keywords: duty on textile increased by Turkey, expand trade cooperation, Free trade agreement, Heart of Asia, Istanbul process, Pakistan to boost trade ties, Turkey, Turkish companies investing in Pakistan

Pakistan focusing on boosting trade ties Turkey, as Turkey has a very rich experience in infrastructure projects and there are many good and prominent Turkish companies investing in projects in Pakistan. Pakistan’s National Security and Foreign Affairs Adviser Sartaj Aziz Aziz said that Pakistan wanted both countries to expand their trade cooperation further.

In the last few years, the number of Turkish companies active in Pakistan increased. However, the trade volume has been reduced because of Turkey’s increased duty on textile.

Related Keywords: cord fabric, fourth-generation polyester HMLS yarn facility, Kordsa Global, single end cord production, Turkey, world leader in nylon and polyester yarn

Kordsa Global Endüstriyel İplik ve Kord Bezi Sanayi ve Ticaret A.Ş., a world leader in nylon and polyester yarn, cord fabric and single end cord production has opened a second tire cord fabric and polyester yarn plant in Indonesia with a investment to the tune of $100 million. This second facility in Indonesia is the largest capacity investment for Kordsa Global outside of Turkey.

The investment includes an 18,000 metric-ton-per-year tire cord fabric facility and a 14,000 metric-ton third- and fourth-generation polyester HMLS yarn facility.

Related Keywords: decrease in value of ruble, exports to Russia, losses in Russian market, ready-made clothing, Turkey, Turkey textile sector, Turkish Exporters' Assembly

Turkey has been experiencing difficult times with its exports to Russia which has declined by 14.6 percent, dropping to $6.57 billion in 2014 compared to $7.96 billion in 2013 due to the decrease in the value of the ruble.

According to the records of the Turkish Exporters' Assembly (TİM), Turkey's total exports rose to $157.62 billion with an increase of 4 percent in 2014. Unlike the increasing export rates in 2014, big losses occurred in the Russian market, having a large impact on all sectors, as Russia is one of the top export markets for Turkey.

Related Keywords: bilateral trade, clothing accessories, Export category, fabrics, increase trade volume, Kyrgyztan, Memorandum of understanding, Textiles, Turkey, Turkish Statistical Authority, yarn

With the aim to increase trade volume to $1 billion the two countries Turkey and Kyrgyztan have entered into a memorandum of understanding on Friday. Two nations share common historical, linguistic and cultural ties.

Turkish Deputy Prime Minister Numan Kurtulmus speaking at the Eighth Turkey-Kyrgyzstan Joint Economic Commission, held in Bishkek, the capital of Kyrgyzstan stated that the agreement will serve as a road map to increasing bilateral trade volume to $1 billion between the two countries.

Related Keywords: 10 countries, 115 exhibitors, accessories, Apparel fabrics and accessories fair, celebrating premiere, cotton, denim dyeing technology, design offices, embroidery, exhibiting, fibers and yarns, fully booked, functional fabrics, knitted fabrics, lace, linen, Messe Frankfurt, prints, silk, silky aspects, Texworld Istanbul, Turkey, wool, wool blends

Texworld Istanbul, apparel fabrics and accessories fair both in Turkey and surrounding regions, is celebrating its premiere The trade fair is fully booked with 115 exhibitors from 10 countries, China, France, Germany, India, Indonesia, Hong Kong, Pakistan, South Korea, Taiwan and Turkey.