The European Union and China reached a deal to implement a so-called double checking system after quotas will be eliminated at the end of the year. Export licenses will be needed in China to export goods in 10 textile categories while import licenses will also be required from European importers. The system should help in rapidly re-imposing quotas until the end of 2008. It may also prepare the ground for future anti-dumping duties on European imports from China.

Polyester filament prices are now falling in China, as a result of the low level in demand from weaving industry and larger inventories. PSF prices are rising by contrast, in line with higher cotton prices and good sales of spun polyester yarns. The fall in PTA prices and rocketing glycol prices may continue affecting polyester production and prices in the short term.

Ministry of Commerce China has formulated a plan to raise annual output value of local silk sector to US $31.25 billion by 2010. This value is 67% higher than that in 2006. As per statistics, 90% of world export market and 74% of global raw silk output was generated by China, the biggest global silk producer. It is anticipated that exports of silk goods will bring in $5.5 billion for the country by 2010.

India’s textile exports to US and EU has gone up by 9% 15% respectively during 2006 as compared to the previous year and the prospects for notching up further market share in 2007  is bright, according to Mr Munir Ahmed, Executive Director, International Textiles and Clothing Bureau, Geneva.

U.S. textile and apparel imports from South Korea would surge if the duty-free agreement between both countries would finally be implemented. The duty-free access would help South Korean in keeping strong positions in man-made fiber segments of the textile and apparel markets.

China is back on the U.S. import market for cotton knit shirts in categories 338/339, even becoming a new leader in value terms. The dramatic increase in Chinese shipments in the first half this year was not due to lower prices, as China's unit values remain the highest in the world, confirming a shift to high-quality items and more sophisticated products than T-shirts.

Sri Lanka have signed a Memorandum of Understanding (MoU) to finalize the procedural arrangements for implementation of Tariff Rate Quota (TRQ) for importing of 3 million pieces of apparel articles covered under the India-Sri Lanka Free Trade Agreement (ISLFTA).

Taiwan's exports of polyester staple fibers sharply declined in the first half this year in volume terms, while prices were significantly rising over the same period. Relocation to China and heavy anti-dumping duties imposed by the European Union contributed to the fall in shipments. Sales to the U.S. market, Russia and Turkey however soared.

The Indian Textiles Ministry has finalized a proposal to set up Territorial Textile Investment and Production Complexes (TTIPC) in the country. These TTIPCs will mirror special economic zones (SEZ) in tax concessions and relaxed labour laws for the units in the region, but would be vastly different in terms of having no need to be geographically contiguous or having no ceiling on its size.

Wool prices again increased in Australia in US$ terms, for the sixth consecutive week. Prices rose above a first long-term high reached in May this year. A possible lack of supply is still behind the new jump in prices, also observed in South Africa.

Chinese textile exports to the European Union stood at $19.3 billion in the first eight months of the current year, up 0.88% from the same period in 2006, said Sun Huaibin, a Director of the China National Textile and Apparel Council.

South Korean exports of polyester staple fibers surged in value terms in the first part of the year, benefiting from heavy anti-dumping duties imposed on Taiwanese fibers on the European market. Exports rose 25% in value terms with a sharp rise in sales to Germany, the U.K. or Belgium. Prices rose significantly from a year earlier while sales to China clearly suffered.

According to Center of Xinjiang Agricultural Office China report, Xinjiang's cotton planting area reached over 20.5 million mu, an increase of 1.4 million mu over the previous year (one hectare equal 15 Chinese mu). It is expected that cotton yield will be basically the same as last year and will reach 2.3 million tonnes to 2.5 million tonnes.

Although crude oil prices are reaching new record levels, the polyester pipeline is dominated by a fall in demand. The lack of supply on the global glycol market further boosted prices in the last week of October, forcing polyester producers in reducing their production and depressing demand for PTA, as a result.

Bangladeshi readymade garment companies have bagged $0.58 million export orders from a recently concluded fair held in Moscow, Russia. On top of the confirmed orders, the companies are also expecting $1.11 million orders. A total of 15 local RMG firms showcased T-shirt, woven shirt, singlet, trousers, blouse, pullover, cardigan, sock, sweater, suit, blazer and fleece at the show styled Federal Trade Fair for Apparel and Textile "Textile Leg prom”.