China has started showing interest in buying United States cotton, based on discussions during the April 12 meeting of the Plains Cotton Growers (PCG) Advisory Group.
There have been positive signals regarding movement of U.S. cotton to China in anticipation of a trade deal between China and the United States.
“Demand for cotton is there,” stated one merchant at the meeting.
Việtnamese textile and apparel sector has set a target of seven percent growth over 2016, with total export earnings of over $30 billion. It stands chance of achieving its export target this year despite facing many challenges in exporting to key markets, such as the European Union (EU) and the United States, according to experts.
Demonetization move has caused delay in the exports of 1 million bales of cotton from top producer India. The supply crunch has driven up prices in India to levels higher than in the global market and could force buyers to switch to other producers like the United States, Brazil and African countries.
At MAGIC 2016, the world’s largest fashion exhibition held twice annually and attended by professionals from more than 80 countries. Nine Peruvian companies participated in the event. The most demanded Peruvian products were t-shirts, shirts for men, and woven garments for babies.
The majority of buyers who contacted Peruvian exporters were from Canada, United States, and Mexico.
The textile sector of Peru aims to increase their exports to the United States. In addition, they wish to position and strengthen their presence of cotton and alpaca industry in the US.
The United States, under the new US Generalized System of Preference (GSP) expands duty-free access to travel goods such as luggage, backpacks, handbags and wallet made in Cambodia, a major expansion of trade preferences for the country, according to the US Embassy in Phnom Penh.
Now, Cambodia will be able to be shipped its travel goods to the US duty free.
Despite increasing number of countries competing in the garment export business, the United States was still the key buyer and the main market for Cambodian garment and textile industry, said the Minister of Labor Lth Sam Heng after a meeting with US ambassador William Hiedt at the ministry on Wednesday.
Japan and Europe have been China's main textile export markets due to sharp depreciation in yen and Euro had a direct negative impact on textile exports. China's textile and garment exports continued to decline last year, mainly due to the good performance in the previous year and exchange rate fluctuations, the Ministry of Industry and Information Technology said on Wednesday.
The United States has threatened to suspend the duty-free status of South African agricultural products after the country was reported to have failed to resolve the outstanding issues necessary for it to meet President Barack Obama’s deadline and maintain all of its benefits under the AGOA. Therefore should South Africa end up losing its AGOA eligibility, the Swazi economy would be put in disadvantaged position.
The European Union and the United States, two of the biggest economies in the world are going far beyond what has been done previously in any agreement except the EU’s single market. They are in the process of negotiating the Trans-Atlantic Trade and Investment Partnership (TTIP), a key bilateral trade agreement intended to further integrate the two economies.
The two economic entities, which together account for around a third of world trade and half of world GDP, are already deeply integrated.
The immediate future of Swaziland’s duty-free export market to the United States (US) through the Africa Growth and Opportunity Act (AGOA) is hanging by a thread as Swaziland will be struck off the beneficiaries of AGOA late December, if it fails to meet the benchmarks.
Varying stakeholders from the textile and apparel industry in the country have sent an impassioned request to United States President Barak Obama, to at least give Swaziland a few months more to sort the benchmarks hurdle that resulted in its expulsion from AGOA.
