Global news roundup
The following is a round-up of apparel and footwear news from the world's local media. just-style has not checked these stories so cannot guarantee their accuracy.
- Textile and apparel manufacturers in South Korea are looking to South East Asia for cheaper labour, a report has showed. In Southeast Asia, Bangladesh is one of the cheapest countries in terms of monthly minimum wages compared to China, where the minimum wage for 2011 increased 20% from 2010. MAEIL BUSINESS NEWSPAPER
- Nile Cotton Ginning Company (NCGC), which had been redundant since 2008, may be restarted again. The Egyptian government is in talks with the management of the ginning company to restart all its seven factories. MIDDLE EAST NEWS AGENCY
- Garment exporters in Nepal are hopeful of getting the Generalised System of Preferences (GSP) facility along with the Trade and Investment Framework Agreement (TIFA) with the US. The GSP is designed to promote economic growth in the developing world by providing preferential duty-free entry for up to 4,800 products from 129 designated countries and territories. THE HIMALAYAN
- Thailand's government policy to increase minimum wage to THB250 (US$8) per day within two years will force manufacturers to build plants outside Thailand, it has been claimed. Thai exporters are looking at business opportunities in Vietnam, Indonesia, Bangladesh and China to take advantage of their cheaper labour costs. ASIA NEWS NETWORK
- Punjab may lose foreign exports worth more then US$2.5bn following the suspension of gas supplies to the industry for three and a half days. The SNGPL has diverted most of its supply to the fertilizer and thermal power sector. The textile export target for the last three months of the fiscal year 2010-2011 was US$4bn, but due to unavailability of gas, only of US$1.5bn of exports may be achieved. THE NATION
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