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.
- The Taiwan Textile Federation (TTF) is urging the government to sign a trade and investment framework agreement (TIFA) with the US. Exports of yarn and cloth could be undermined by textile shipments from South Korea. TTF said blocking imports of US beef at the expense of TIFA would damage Taiwan's textile industry. TAIWAN ECONOMIC NEWS
- Reliance Retail plans to raise up to US$900m from its parent company Retail Industries, to increase the number of apparel stores by 30%. It also aims to double the number of consumer durables stores it has. The retailer hopes to open 60,000-80,000 sq ft big-box stores or hypermarkets. THE ECONOMIC TIMES
- The World Trade Organization is allowing 75 Pakistani products duty free access to markets in Europe for next two years. The products chosen for the waiver, which needs approval at the WTO general council meeting, would amount to EUR900m (US$17.75m) in import value (27% of EU imports from Pakistan). THE CHINA POST
- Chinese scientists have developed the country's next-generation of transgenic cotton. It has been targeted at improving cotton fiber quality and output and resistance of crops. The introduction of new breeds and germplasm materials will help produce high-quality cotton. XINHUA'S CHINA ECONOMIC INFORMATION SERVICE
- The Thai Garment Manufacturers Association has called for a reduction in income tax on revenue from investments abroad. It will lower the burden manufacturers will face after the increase in the daily minimum wage comes in into effect next month. The increase will make it difficult for small businesses to compete with factories in Vietnam, Cambodia, Indonesia and India. BANGKOK POST
- Custom agents have called for a strike over increases in goods handling charges, leading to delays in textile consignments. The Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) has expressed concern over the protests. It said there are already multiple issues facing the industry, without new ones arising. PAKISTAN OBSERVER
- Why have US FTA imports fallen to a record low?
- Collaboration key to the future of smart textiles
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- First figures show Bangladesh exports climb
- Rana Plaza three years on – Timeline of change
- Hanesbrands to buy Pacific Brands for $800m
- BHS receives "expressions of interest"
- Timberland sets new eco-preferred standards
- New loan deal to help upgrade Bangladesh factories
- US Q1 in brief: Carter's, Columbia Sportswear, Ske