Search Results for: Egyptian

THE EUROPEAN Union’s (EU) financial watchdog, the Court of Auditors, has highlighted concerns about how Chinese knitwear exporters maybe exploiting loopholes in EU customs and VAT controls to evade paying proper amounts of these taxes.

In a report on shortcomings in EU import procedures, the court noted how Chinese traders were abusing EU customs procedure CP42, which allows an importer to bring goods into one EU member state without paying VAT, because they will be sold in another EU country.…

EGYPT is set to become a new player in the digital textile outsourcing business, with innovative companies now laying plans to digitise their finishing within a country that has a major role in serving global brands – its garment and textile exports were valued at USD2.01 billion in 2016.…

Africa governments are waking up to the fact that the continent could be a ‘new frontier’ for clothing manufacturing sourcing, export associations and manufacturers at Destination Africa, a trade event in Cairo, Egypt, have told just-style.

They stressed that Africa has significant opportunities to divert manufacturing from Asia due to rising production costs, especially in China, and take advantage of the proximity to European markets.…

African clothing exporting countries are banking on rising costs in China and changing consumption patterns worldwide to attract buyers to the continent to take advantage of lower production costs.

Major hurdles abound, but manufacturers are hopeful that clothing facilities built from scratch that abide by international best practices will help the continent’s apparel sector develop.…

THE EGYPT government and leather industry is planning to boost the country’s leather exports by 80%, to USD1 billion by 2020, through modernising the sector and developing dedicated manufacturing hubs. The Egyptian leather sector took a major hit in terms of lost sales and output during the political and economic instability following the 2011 revolution, and there has been no major investment for the past 15 years to upgrade facilities and improve output.…

THE FIVE month-long diplomatic and commercial dispute between Qatar and the so-called ‘anti-terror quartet – ATQ’ of Saudi Arabia, the Saudi Arabia, Bahrain, the United Arab Emirates (UAE) and Egypt) continues and revolves around Doha’s alleged financial support for terrorist groups.…

EGYPT is trying to develop its upstream textile capabilities to bolster exports and be part of an integrated African continent-wide supply chain, linking its cut-and-sew and quality cotton fibre base. While Egypt exported USD764 million worth of fabric and yarn in 2016 according to the country’s Textile Export Council (TEC), challenges abound regarding Egypt’s efforts to generate more value-added textiles.…

The Egyptian Pounds EGP1.6 billion (USD90.5 million) Egyptian colour cosmetics market has had steady growth over the past year despite the downturn in the economy, the depreciation of the Egyptian pound and some serious regulatory challenges.

According to market researcher Euromonitor International, in 2016, this market grew by 18% in value terms, year-on-year, mainly influenced by the positive performance of lip care products, primarily lipsticks.…

THE EGYPTIAN government has said it will use German consultants to fine tune a planned subsidy system benefiting Egypt-based assemblers who source parts domestically. The goal of the ministry of industry is to smooth concerns about the incentives at the European Commission, the European Union (EU) executive, which wants freer trade between the EU and Egypt and views Egyptian government plans to favour local parts sourcing as a trade barrier.…

The European Commission will press trading partners at this week’s July 7-8 G20 summit in Hamburg, Germany, to remove unfair obstacles to European Union imports, after a EU report detailed such restrictions, many affecting clothing and textile trades.

Referring to the Commission’s latest annual Report on Trade and Investment Barriers (TIBR), EU trade Commissioner Cecilia Malström warned G20 leaders it was prepared to launch World Trade Organisation cases if necessary: “We are taking action.…