v                 The European Commission (EC) and the Chinese Ministry of Foreign Trade have decided on a system of joint import surveillance that will operate for one year in 2008 following the end of the import growth caps on ten categories of textiles and clothing from China. The 'double checking system' will track the issuing of licenses for export in China and the importation of goods into the European Union (EU).

v                 The Indian domestic textile industry, which currently is braving various odds, could achieve US$ 55 billion of investments, create job opportunities for 65.4 million workforce and its CAGR could go up at 22% by 2010, provided reforms are initiated at a quicker speed, according to findings of The Associated Chambers of Commerce and Industry of India (ASSOCHAM).

v                 Nepal's export of readymade garment (RMG) to the US has plunged by 46% in the first 10 months of 2007 compared to same period last year, as companies hit by labour unrest and eroding competitiveness, failed to lure international buyers. According to the statistics of Garment Association Nepal (GAN), Nepali readymade garment exports valued mere US$22.92 million over the first 10 months of the year, whereas it was $42.41 million in the same period last year.

v               The Ministry of Industry and Trade has predicted that Vietnam will reach an export turnover of US$48.1 billion this year, up 20.5% against last year’s figure and higher than the set target of US$46.7 billion. According to the Ministry more than 75% of the set target is already fulfilled. 

v                 The annual production of Taiwan’s textile industry is likely to reach NT $530 billion by 2009, said Taiwan Premier Chang Chun-hsiung. He said the textile industry of Taiwan has reached an annual production of NT $460 billion and a yearly trade surplus of over US $9 billion.

v                 Raw material costs of polyester producers were again boosted by a new jump in glycol prices gaining US$30-$50 per tonne in Asia. Ethylene prices surged in line with a new increase of crude oil futures towards US$100. Paraxylene also gained some ground while PTA further fell amid ample supplies in China. There were first signs that the crude oil shock could be more easily transmitted to polyester prices.

v                 Shipments of cotton T-Shirts to major European markets stagnated in value terms over the first part of 2007 while more strongly increasing in volume terms. Exports from low-cost countries to Spain, however, surged at the same time, putting pressure on the average unit price of T-Shirts imported by the European Union. Shipments to smaller markets were stronger, but accounting for a very small share of European imports.

v                 In a boost to Indian textile sector, the Government has decided to extend the benefits of a technology up-gradation scheme for five years up to 2012 under which capital subsidy and interest reimbursement will be given for purchase of machinery. The scheme places special emphasis on garments, technical textile and processing segments of textile industry in view of their potential for value addition and employment generation.

v                 Shipments to the European Union of cotton denim fabrics did not decline in the first half this year, thanks to a rebound in the Italian market. French and Belgian imports from outside the European Union sharply increased at the same time, probably reflecting a loss of shares by European suppliers on their market. Shipments to Portugal and Poland declined in the same period.

v                 Bangladesh Bank has increased the Export Development Fund (EDF) to US$ 150 million from existing US$ 100 million to help maintain the growth trend of the export-oriented industries.

v                 In 1997-98, Bt cottonseed was commercially introduced and in 10 years up to 2006-07, 36% of cotton area has been covered under Bt cotton. According to world surveys and reports of International Cotton Advisory Committee and Cotlook survey, Bt cotton is commercially and widely grown in USA 87%, Australia 91%, India 40%, Mexico 70%, Argentina 75%, China and South Africa and per acre yield is increasing in these countries. In some cotton producing countries like Egypt, Israel and Turkey, it is on trial stage. Other cotton producing countries are yet to start trials.

v                 The cotton yarn market is rather depressed in China with demand lowering since a month ago. The recent rise in yarn prices is now forgotten with most prices unchanged and a few product prices being reduced, especially 100% PSF yarns. The rise in cotton and viscose fiber prices may significantly cut spinners' margins in the near future.

v                 Vietnam's clothing exports to the United States surged in the past months, far from being depressed by the threat of anti-dumping duties. Shipments to the European Union were much weaker over the same period. The removal of U.S. quotas apparently diverted exports to the U.S. market while surging competition from China may also depress Vietnamese exports in the long term.

v                 The strong rise in the Indian rupee and the Euro against the US dollar is putting pressure on Indian exporters on the international yarn market. Orders are increasingly shifting to Pakistan and other sources while some severe crisis is looming for Indian spinning and knitwear industries, said Textile Commissioner, J. N. Singh.