Search Results for: Vietnam

Vietnam’s textile-garment sector has been known for low labour productivity relative to China, but this has been changing as foreign-invested factories across the country bring in innovative processes and equipment. A key goal is taking advantage of Vietnam’s privileged access to major markets, especially the European Union (EU), with whom it has a free trade agreement.…

Brief:

This article provides an analysis of why the world’s largest regional trade deal (in population terms) – the Regional Comprehensive Economic Partnership (RCEP) – was signed last November (2020). It assesses China’s role in this important political and economic event, and how it reflects its relations with other signatory countries.…

Asian clothing manufacturing associations, including major knitwear outsourcing hubs, are jointly developing ‘red line’ standards for sales to buyers, covering payment and delivery practices, planning and information exchanges and third-party negotiations.

The STAR Network of nine Asian federations has established five working groups to make detailed proposals as early as March.…

Tough American government sanctions levied against Myanmar may emerge soon because of the recent coup, the American Apparel & Footwear Association (AAFA) has predicted. Nate Herman, AAFA senior vice president, policy, told just-style: “Monday’s coup is deeply concerning. We urge the full and immediate restoration of democratic rights and institutions.…

The president of the United States Fashion Industry Association (USFIA) has warned that the military takeover in Myanmar could spark a significant shift in sourcing away from this south-east Asian country if democracy is not restored promptly. Julia Hughes told just-style: “If there is not a quick resolution, then yes we would expect a major shift to other Asian suppliers.”…

The director general of the European Textile and Apparel Confederation,

Euratex, has warned that the military takeover in Myanmar could halt what has been a boom in clothing export sales to Europe, which grew 40% in 2020, year-on-year.

Dirk Vantyghem told just-style this has been achieved through a major increase in Chinese investment into the country’s clothing industry – its upstream textile segment remains small.…

The onset of the Covid-19 pandemic sparked predictions that the shift of textile industrial capacity from China to lower cost neighbouring countries could intensify, but analysts talking to Twist International say the trend may have stalled in the past year. While production capacity of China’s textile industry has indeed in recent years shifted to south and southeast Asia, some of these transfers have not run smoothly.…

Former US President Donald Trump may be out of office, but the first initiatives of the new administration of President Joe Boden have been to encourage the American manufacture of clothing and textiles, just in a different way from his predecessor.…

Unprecedently severe bottlenecks in merchandise trades between Asia and the rest of the world caused by Covid-19 economic disruption is continuing to frustrate apparel retailers in Europe and the US. High levels of demand, port congestion and shortages of containers have been pushing up costs, with shipping rates for the Shanghai-Rotterdam and Shanghai-Los Angeles routes on January 21 being up 296% and 153% year-on-year respectively, according to UK-based maritime consultancy Drewry. …

The International Accounting Standards Board (IASB) is consulting on proposed new accounting requirements for mergers and acquisitions involving companies within the same group. At present IFRS 3 on business combinations covers mergers and acquisitions involving third party-owned businesses, not intra-group deals.…