FW
Peru's textile industry generates over 2,50,000 formal jobs and serves many international clothing brands.
It produces one of the world's finest cotton varieties. Peruvian Pima is included among Peru’s flagship products.
The Inca country also produces fine alpaca fibers. Peru hosts 80 per cent of the world’s total alpaca population.
Since 2015, Peru has consolidated as the Pacific Alliance’s second largest knitted clothing supplier after Mexico.
Peru is also one of Brazil’s top garment suppliers, thus having ousted China in the T-shirt category.
Creating intricate, detailed textile designs, Peruvian artisans draw from the world’s longest textile tradition. With knowledge that stretches back millennia, it’s no wonder that their hands create some of the most beautiful, sumptuous fashion in the world. It is by this path that Peru has entered the world market as a textile superstar.
Textiles continue to play an integral role in Peruvian culture. They are given as gifts in courtship and are important parts of marriage and coming of age ceremonies. Because most of Peruvian textile creators are women, money earned from this art is more likely to go toward feeding and caring for children and improving the lives of women as they become larger contributors to household income.
In order to meet rising demand from its textile industry while domestic output remains poor, Vietnam is set to import 1.2 million tonnes of cotton this year. The import would be up by about 19 per cent from that of 2015, it is understood.
Most of the imported cotton will come from the United States, which has been Vietnam's top supplier of the raw material. More would come in from India, Brazil and Australia.
Vietnam's exports of textiles and garments that is the country's second-biggest cash earner of the country after smart phones are projected to jump 36 per cent this year to $31 billion.
Unenthusiastic purchasing and slow supply of the new cotton crop was cause of driving down cotton prices in the Brazilian market in the second fortnight of June. This despite low availability of good quality cotton.
The ginners of the country were of the opinion that as the harvesting season advances; domestic supply would increase in the first fortnight of July.
However, some agents were also of the view that as activities intensify, growers and trading companies may prioritise closing contracts signed earlier for deliveries to the Brazilian and global markets.
The Center for Advances Studies in Applied Economics (CEPEA) noted that, thus higher supply in the Brazilian spot market may be observed only in August.
The CEPEA further said that a few agents, mainly ginners were active in the spot market while purchasers acquired smaller lots from the 2014/15 and 2015/16 crops to meet immediate demands.
Registering a year-on-year surge of 6.1 per cent, Vietnam’s garment and textile exports only reached nearly US$8.5 billion in the first five months of the year. As reported by a number of enterprises, export orders tended not to increase, which was accompanied by a decline in export prices and increase in production costs, resulting in a lot of drawbacks in manufacturing and distributing products.
Such circumstances are taking place more severely among small and medium-sized enterprises, which are facing fierce competition with regional opponents from Laos, Cambodia, Myanmar and Bangladesh. This indicates that Vietnam’s garments and textile industry is being confronted with numerous challenges as consumers have been switching part of their orders to several other countries such as Cambodia, Myanmar and Laos due to export tax incentives to Europe and the US – the two largest export markets of Vietnam’s garment and textile sector. Meanwhile, Vietnam’s garment and textile exports to the US and EU are subject to an average taxation of 17 per cent and nearly 10 per cent respectively. If nothing changes, it is not until mid-2018 that the roadmap of tax reduction under TPP and EVFTA will take effect, which will therefore bring about a lot of disadvantages for Vietnamese enterprises in the process of competition with international opponents.
Moreover, China, India and Bangladesh, who are on the ‘upper floor’ compared to Vietnam in the global supply chain, are also implementing a number of active measures aiming to compensate for the downsides caused by their TPP non-membership, driving competition to new heights. Unless effective solutions are taken soon, Vietnam will surely become an ‘underdog’ on the world market.
This October, the Textile Exchange’s annual Textile Sustainability Conference is to be held 2016 in Hamburg, Germany from October 4-7.
This is where leaders in sustainability will congregate to share the kind of progress, knowledge and best practices that could improve the apparel industry.
The conference will host more than 300 attendees the world over representing all parts of the textile supply chain. Brands and retailers, marketing and communications departments, supply and value chain staff, designers and non-profits will all be able to benefit from the conference.
“Anyone interested in textile sustainability can pick up something from this event,” said Textile Exchange, a global non-profit organization aimed at accelerating sustainable practices in the textile supply chain, in a statement.
Topics that are likely to be discussed at the conference will include Flexibility and Equivalence in Certification, Supply Chain Mapping 101, Pricing: Shining the Light on Market Mechanisms, and taking responsibility for animals in the value chain, to name a few.
All set to take place from July 19-20, Première Vision New York will present collections from 352 exhibitors, a trend area, and the unique Première Vision colour range, along with numerous seminars, fashion exhibitions and special creative collaborations. For the second edition in a row, Première Vision will be held at Pier 94, a venue with the right capacity for a show that continues to grow, according to the organisers.
Première Vision, a leading event for several years now for fabrics, textile designs and accessories, the event has also become a sourcing destination for leather buyers and industry professionals looking for new quality solutions and full packaging manufacturing services. Following January edition of this sourcing platform, visitors will discover a highly diversified selective offer this month.
Meanwhile, Première Vision and The Council of Fashion Designers of America (CFDA) have renewed their collaboration. In close cooperation with the CFDA, this partnership allows Première Vision to offer designers more targeted services and provide them with a range of support at Premiere Vision New York.
The collaboration comprises various activities, such as providing assistance to young brands and designers, particularly with small-scale orders; fashion presentations for CFDA Members, and working together to select the Première Vision Brand Ambassadors. Future cooperation will extend to manufacturing, a sector that Première Vision has been developing since January 2016.
Nobel laureate economist Joseph E Stiglitz is here in India. Speaking on the move the Indian government ought to take vis a vis the United States government’s subsidies on cotton, Stiglitz was quoted as saying, “Rather than engaging in activities such as shutting down NGOs, it will be much more constructive for the country if the Indian government challenged the United States government’s subsidies on cotton which tends to hurt cotton growers in India.
India is one country that is worst affected by subsidies for cotton in the United States, but unlike Brazil, it has not challenged the American government on this. If New Delhi manages to that and takes on the US on this issue, it will have a positive effect on the global community, Stiglitz reportedly added.
Stiglitz was speaking at a discussion organised by Azim Premji University on ‘Global Inequality: Causes and Consequences’ in Bengaluru yesterday.
The Nobel laureate said that the US would rather walk away from trade talks than get rid of its agricultural subsidies. This has been a major barrier to removal of agricultural subsidies.
Last year, Milano Unica inaugurated a brand new global project: Milano Unica Prima, the first international trade show dedicated to the pre-collections of men’s and women’s high-end textiles and accessories. On July 6-7 the second edition of Milano Unica Prima will open at Fieramilano city.
Milano Unica Prima is a project hinged on two key pillars: the presence of the world’s best fabrics and accessories manufacturers and the rapid anticipation – two months ahead of the traditional schedule – of the selection of textiles and accessories. A creative, business-focused event is a one of its kind initiative at the international level. The event offers a chance to establish a bridge between the upstream and downstream of the fashion supply chain, favoring the exchange of information and suggestions for customisation.
The show takes place in a period in which collections are still in progress and customisations can be developed from supplier-customer interactions.
The success of the inaugural edition in July 2015 was confirmed by the confirmation of entrepreneurs this year. Worth noting among the new entries is the participation of prestigious brands dedicated to women’s textiles that complete, in number and quality, with the high-end men’s textiles offering.
Later this month, India and Sri Lanka will begin negotiations to finalise the Economic and Technology Co-operation Agreement (ETCA), it is gathered.
Bilateral relationships between the two countries has deepened considerably since Sri Lankan President Maithripala Sirisena took over in 2015, Sri Lanka's Minister of Development Strategies and International Trade, Malik Samarawickrama reportedly said.
The ETCA is expected to help Sri Lanka gain better access to India's rapidly growing market. The minister is said to have said that India happened to be Sri Lanka's largest trading partner and the fifth-largest source of Foreign Direct Investment.
Sri Lanka is also negotiating a similar trade agreement with China, its second-largest trade partner. The pact would provide an opportunity for Indian investors to set up base in Sri Lanka and export to China with preferential access to that country's market.
Similarly, the island nation is also looking at signing trade agreements with Singapore, Pakistan, South Korea and Japan.
Following Brexit, India is considering recalibrating its strategy, including renegotiating its tariff offers, for the proposed free trade agreement (FTA) with the EU, with demands from key sectors for a separate trade pact with the UK gathering pace, according to sources. But with both the EU and the UK busy grappling with Brexit, serious trade negotiations are unlikely to start anytime soon.
Said Textiles secretary Rashmi Verma that Britain continues to be an important market for India, as it makes up for around 23 per cent of the EU demand for Indian textiles and garments. The Ministry of Textiles has requested the commerce ministry to look into the possibility of a bilateral preferential trade agreement (PTA) with the UK.
The UK accounts for over a half of India’s software services exports to the EU, 23 per cent of key engineering and electrical goods exports and 16 per cent of jewellery, precious metal and stones exports. So, senior industry executives from these sectors endorse an FTA or PTA with the UK. Britain alone accounted for 3.4 per cent of India’s goods exports in 2015-16, while the EU – including the UK – made up for 17 per cent.
Meanwhile, said Nasscom president R Chandrashekhar, once the current storm settles down, the UK will also be looking to compensate itself for no longer being part of the EU trade bloc.
