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VITAS sets export mark to achieve $55 billion by 2025
The Vietnam Textile and Apparel Association (VITAS) recently announced the targets to achieve USD 55 billion from apparel exports and creating three million jobs. The targets were shared at the sixth congress of VITAS, held in Hanoi.
Cambodia-China enter bilateral FTA
China and Cambodia have agreed over the technical aspects and legal framework of a bilateral free trade agreement (FTA), Sok Sopheak, secretary of state at the Cambodian ministry of commerce and head of the country’s negotiating team, recently said without disclosing when the FTA will be signed.
Go beyond FTAs
According to a report of analytics firm Fitch Solutions, Asia is expected to remain a dominant player in garment production over the coming decade even as China looks to reduce its apparel manufacturing operations and move up the value chain. In spite of this, India and Indonesia, which offer low-cost cheap labour and large domestic markets, may not be able to take advantage of the situation due to the lack of conducive business conditions.
Budget 2020 FOCUS ON GROWTH!
Textile industry has something to cherish in the Budget with the abolition of ADD on PTA imports, prioritisation of technical textiles sector, review of rules of origin in FTAs to curb imports from Bangladesh, and RoDTEP, NIRVIK and other measures taken.
Textile investment touches Rs 27k cr, claims Smriti Irani
Union Minister Smriti Irani said the textile sector has attracted up to Rs 27,000 crore investments since the announcement of incentive package last year, and is likely to get more investment from international and domestic markets going forward.
EAEU-Vietnam FTA yields positive results
According to statistics released by Vietnam Customs, trade between Eurasian Economic Union (EAEU)and Vietnam hit $3.9 billion in 2017, up 3 per cent from 2016.
EU brands scramble to enter Vietnam
About 80 European brands from the fashion and accessory, food and beverages , perfumes , interior design, etc will come under the banner of Eurosphere to Vietnam on June 16 & 17 in anticipation of EU- VIETNAM FTA becoming active in early 2018.
Make in India:Is it happening?
Make in India has been a major programme of our Prime Minister and rightfully so as we have truly lagged behind in the manufacturing sector. There have been many conferences, programme and discussions on the same ´ the press is always full of mention of Make in India. We ourselves are a manufacturer who sell domestically and also export across the globe.