Trade

A new trade bloc on the anvil comes in the wake of two mega-agreements already in force in the region. But it is not a free trade agreement, and nor does it talk about tariffs or market access. What’s in it for the US? What for the other 12 Indo-Pacific nations?

India has been furiously negotiating deals ever since the RCEP came into force earlier this year. Initial rounds of negotiations on FTA and other trade policies with several countries should hopefully ensure a handful of agreements by 2024. A texfash.com report.

The importance of the textiles-apparel sector in terms of share in manufacturing has been growing over the years, but its share in global apparel exports has been more or less stagnant, even falling marginally at the last count. If India has to become a global sourcing destination, a cursory look at the backdrop is paramount.

The World Trade Organization (WTO) has almost halved its growth rate prediction from 4.7% to 3% for 2022. The prime reason is the Russia-Ukraine war, but there are other reasons too.

The European Union Commissioner for Environment, Oceans and Fisheries, Virginijus Sinkevičius, is one of the key people behind the European Green Deal and also, by that reason, of the EU Strategy for Sustainable and Circular Textiles. Sinkevičius tells texfash.com how the Strategy works.

The pandemic was unprecedented, and everyone made mistakes. As COVID-19 variants turn milder and some semblance of normalcy returns, a quick lookback.

As trade wars rage, a new mega-treaty comes into play and some uncertainties keep rankling Sri Lanka’s GSP+ status from the EU. A look at how the country’s apparel industry is working it out.

With the forex crisis in Sri Lanka keeping the country on tenterhooks, the importance of the apparel manufacturing sector becomes paramount. Also, it has to earn more and spend less.

The apparel industry of Sri Lanka has recovered considerably from the COVID-19 shocks. But now, it has to wade through a debt crisis.