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.
- Vietnam's is likely to see footwear exports to Brazil slow as the South American country conducts an investigation into footwear, according to the Vietnam Leather and Footwear Association. Brazil has launched an investigation into footwear material imports from China and finished footwear products from Vietnam and Indonesia over suspicion of tax evasion. Brazil has imposed anti-dumping tariffs on Chinese footwear since 2009. The current investigation is centred on whether China exported products to Brazil via a third country to avoid taxes. VIETNAM ECONOMY NEWS.
- A free trade agreement between South Korea and China would deal a severe blow to the Korean fashion and retail industry, said the Korea Federation of Textile Industries. The federation said that the move would allow Chinese manufactured products from Zara, H&M and other retailers into the domestic market without any tariffs. The federation is also calling for the government to classify textiles as a sensitive item like agriculture during FTA negotiations as Korean industries are suffering due to China's lower labour costs. MAEIL BUSINESS NEWSPAPER
- Workers at the Tai Yi footwear factory in the Rangoon region in Myanmar have formed an unofficial trade union. Women workers make up the majority of the 21-member executive committee. The workers are seeking an increase in wages from 75 kyat per hour to 150 kyat and a bonus for no absences from the current 6,000 kyat to 8,000 kyat. MIZZIMA.COM
- A direct shipping service between China and Bangladesh has been suspended as there are not enough goods headed to China. The loss of the service is a blow to the Bangladesh government, which is keen to boost exports after its trade deficit widened more than 25% in the five months to November. ASIA TIMES ONLINE.
- Indian apparel firm Raymond has denied that it is in talks with LVMH's private-equity arm L Capital. L Capital was reportedly considering investing US$150m in the apparel company and acquiring a 10-20% stake through the deal. INDIA INFO ONLINE.
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