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VIETNAMESE GARMENT SECTOR UNDER GROWING PRESSURE TO BECOME MORE SUSTAINABLE
Vietnam’s businesses in export-focused garments and footwear manufacturing are facing up to the challenge of becoming greener. This realisation comes even as the country benefits from free trade agreements (FTA), such as the 2019 European Union (EU)-Vietnam Free Trade Agreement (EVFTA) and the 2020 UK–Vietnam Free Trade Agreement (UKVFTA).…
TÜRKIYE CLOTHING EXPORTERS GACEING TOUGH TIMES IN THE SHORT TERM – BUT RECOVERY COULD COME SOONTÜRKIYE CLOTHING EXPORTERS GACEING TOUGH TIMES IN THE SHORT TERM – BUT RECOVERY COULD COME SOON
Türkiye’s garment and cotton sectors have suffered from a slowdown in demand in American and European markets, with more than 1,000 of the country’s garment manufacturing companies closing in 2023. Also, more than 85,000 employees within the sector in Türkiye were laid off this year, say industry sources.…
TÜRKIYE'S FOOD AND DRINK TRADE WITH THE UK AND EU
Türkiye is a critical food and drink provider to the European Union (EU) and the UK, with trade set to grow as Türkiye ramps up production and adopts agri-tech and smart farming solutions. Renewed trade agreements under discussion with the EU (with whom Turkey is already in a customs union) (1) and a new projected trade agreement with the UK are also set to spur growth.…
INDIAN CLOTHING SECTOR IS ENTHUSIASTIC MECHANISER – BUT JOBS ARE SAFE, SO FAR
The Indian clothing manufacturing sector is investing enthusiastically in new technology, but digitisation, AI, robotics and automation has yet to see jobs being shed on a significant scale, said industry experts. AI-powered automation of processes along with the abundant availability of skilled labour, is preparing the Indian garment industry to gain market share in the global trade, argues Harminder Sahni, managing director of Gurgaon, India-based consultancy Wazir Advisors: “Sampling, colour matching and approvals from foreign buyers, which used to be very time consuming, is now happening more and more online,” he told Just-Style.…
ETHIOPIAN GOVERNMENT, ANALYSTS PESSIMISTIC ABOUT COUNTRY’S REINSTATEMENT INTO AGOA IN 2024
Ethiopia government and analysists are both pessimistic that the US government will soon reinstate the Horn of Africa country into the African Growth and Opportunity Act (AGOA). America suspended Ethiopia from the free trade act in late December 2021, because of the ongoing civil war with the rebel Tigray People’s Liberation Front (TPLF).…
EU APPROVES EUROPEAN CAPITAL MARKETS UNION LAWS, BUT DEEP CAPITAL POOLS AWAIT
The European Union (EU) has been busy chiselling the regulatory edifice of its much-vaunted European Capital Markets Union (CMU), but this growing legal framework has yet to deliver the deep capital pools that its framers envisaged.
Indeed, speaking at the European Banking Congress, in Frankfurt, on November 17, European Central Bank (ECB) president Christine Lagarde, bemoaned the lack of available EU capital (1):
“Today, European start-ups attract less than half the funding of their US counterparts, while the volume of investments in scale-ups in the United States is more than four times greater than in Europe,” she stressed.…
2024 WILL OFFER NO RESPITE AGAINST THE COVID-19-INSPIRED BOOM IN FRAUD, WARN EXPERTS
Fraud has been booming since the start of the Covid-19 pandemic and the disruption of established living and working patterns, but experts warn that companies and consumers should expect more swindles in 2024, as technology develops, and scams become more sophisticated.…
INTERNATIONAL REGULATORY ROUND UP – ICCO WARNS OF ONGOING GLOBAL COCOA SUPPLY DEFICITS
The International Cocoa Organisation (ICCO) has predicted that the chocolate industry will continue to face cocoa supply deficits, with its latest quarterly assessment predicting that for 2022/3, there will be 99,000 tonnes more grindings than cocoa production. As a result, global stocks will fall to 1.744 million tonnes, amidst declines in output from key production hubs Ghana and Côte d’Ivoire.…
VEGAN CHOCOLATE BOOMS WORLDWIDE, WITH BRANDS INVESTING IN QUALITYVEGAN CHOCOLATE BOOMS WORLDWIDE, WITH BRANDS INVESTING IN QUALITY
With consumers becoming increasingly health conscious worldwide, demand for vegan chocolate, replacing dairy ingredients with plant-based materials, is growing fast.
According to US-based Grand View Research, the global vegan confectionery market – dominated by chocolate – is anticipated to generate USD2.62 billion in annual revenues by 2030, expanding at a compound annual growth rate (CAGR) of 9.9% from 2023’s USD1.23 billion.…
INDONESIAN GARMENT SECTOR STRUGGLES WITH ILLEGAL IMPORTS
The Indonesian garment sector, already reeling from a decline in international orders, is facing a double whammy: a surge in illegal textile imports that is undercutting local producers and increasing pressure for sustainable production.