Jakarta is committed to promoting free trade through PTA, but it is also keen to protect some domestic industries, such as garment manufacturing, from low-cost import competition due to their importance to the economy.
India needs to actively pursue free-trade agreements (FTAs) with major export destinations like the EU and the US to push apparel shipments amid increasing competition from Bangladesh and Cambodia.
The revised African Growth and Opportunity Act (AGOA) National Response Strategy for Botswana remains one of the mechanisms towards economic diversification and SME sustainable development
AGOA doesn’t expire until 2025, but the industry looks for certainty to the region in the face of the pandemic and upcoming US trade talks with Kenya.
Prime Minister Hun Sen on Monday said Russian Ambassador to Cambodia Dmitry Tsvetkov has pledged to support Cambodia as it moves towards a free trade agreement (FTA) with the federation.
Pakistan’s government targets raising the country’s textile and clothing exports from USD 13.5 billion in 2018 to USD 25 billion by 2025.
While US President Donald Trump is expected to visit India, trade ties between the two countries remain frosty. India’s hope of reclaiming the benefits under the US Generalized System of Preferences scheme has been quashed.
Even though the government has decided to stay out of the world’s largest trade block RCEP, it offers a market potential of USD 125 billion if domestic firms improve competitiveness, as per a World Trade Centre study.
As participating countries are expected to sign the RCEP this year, China’s textile industry must accelerate the adjustment of products, capacity and trade structure to better integrate regional development in the next stage.
Enhanced access for products of Pakistan’s export interest, particularly textile and clothing, to the United States market has been a long-standing demand of both the government and private sector.
Delegation of FICCI Textiles Committee met Smriti Zubin Irani, Minister for Textiles and Women and Child Development recently and impressed upon her to launch a special mission for synthetic fibre and textiles value chain to make Indian industry competitive in the global trade which is predominantly done in the man-made fibre (MMF)-based items.
Knitwear industrialists have urged the central government to enter into a free trade agreement with Russia, saying the former Soviet Union had given green signal to enter into such a treaty with Bangladesh.
The agreement, if inked, will be the second such US engagement in with an ASEAN-member nation, the first being with Singapore.
Despite Free Trade Agreements (FTAs) and Preferential Trade Agreements (PTAs), India’s textile trade has not been performing well, said Aditi Das Rout, Trade Advisor, Ministry of Textiles.
Mexico has implemented a temporary exception to the rules of origin for textiles and apparel in its free trade agreement with Colombia.
The textile and garment industry, now far from its glory days, will have to bank on a possible free trade deal with the United States in a bid to revive its struggling businesses.
Tirupur Exporters’ Association (TEA) today stressed the need to enter into Free Trade Agreements (FTA) with European Union, USA, the UK and Russia, to face the Chinese threat in export markets.
In Pakistan, businessmen and investors are expressing concerns over free trade agreement (FTA) with China claiming that would hurt the manufacturing sector.
Indonesian exports of textile and textile products could soar threefold if the government of Indonesia finally manages to sign a free trade deal with the European Union (EU). Achmad Sigit Dwiwahjono, Director General for Chemicals, Textiles and Miscellaneous industry at the Industry Ministry, said a major obstacle for Indonesian textile exports at the moment is the weak competitiveness of Indonesian textile companies as compared to their Vietnamese counterparts.
Indonesia is pushing for Australia to open its doors to more Indonesian workers - such as nurses and cooks - as well as removing tariffs on textiles as free trade negotiations between the two countries enter the final month.