The following is a round-up of apparel and footwear news from the world’s local media.

  • Corporate tax for Bangladesh’s readymade garment (RMG) industry has been reduced from 15% to 12% and the same has gone down to 10% from 14% for green RMG factories, as per the Finance Bill for 2017-18 that has been approved in the country’s Parliament. It is expected to encourage the sector to invest further in its enterprises. CUSTOMS TODAY

  • India is looking to develop the textile industry in the state of West Bengal with a focus on five sub-sectors in which it is either a leader in the country or top producer: hosiery & inner ware, linen, workwear, technical textiles and textiles machinery. Of these, the textiles machinery once developed, could become a substantial import substitution, West Bengal finance minister Amit Mitra has said. “India imports almost all the textiles machinery it needs and so we are looking at developing this industry in the state.” TIMES OF INDIA

  • Chinese firm Shandong Ruyi Technology Group Co Ltd is to invest US$600m in Kano State’s textile and garment industry in Nigeria. Talks between company officials and the Kano State Investment Promotion Agency are said to be at an “advanced stage”, with a Memorandum of Understanding (MoD) on the investment due to be signed in the next few months. NEW TELEGRAPH

  • The Pakistan Readymade Garments Manufacturers & Exporters Association (PRGMEA) and China Chamber of Commerce for Import and Export of Textile and Apparel (CCCT) have decided to give a practical shape to the MoU signed between the two associations in March 2016 to promote co-operation between Pakistan and Chinese textile and apparel companies. “We hope to reach more simplified and prompt result bearing operational strategies that will lead us to the establishment of joint ventures, the exchange of information and technology, fairs, training and visits from both sides,” said Board of Investment Chairman Dr Miftah. THE NATION

just-style has not checked these stories so cannot guarantee their accuracy.

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