Textile firm fully owned by Blacks launched in South Africa
A multi-million-rand textile firm, Africa Bespoke Apparel (ABA), was launched on January 22 in Verulam in South Africas KwaZulu-Natal province. ABA is a company fully owned by Blacks that will manufacture textiles, apparel and footwear. The company is the first among the beneficiaries of the Black Industrialists Programme (BIP) of the government. The firm will generate about 450 jobs within four months of operation
Turkey announces $45 million package for exporters
The Turkish government in September announced a financing package worth $45 million for exporters. Turkish Exporters Assembly and Turk Eximbank signed an agreement for the same. But, Turkey may lose trade with the United Kingdom worth up to $3 billion in the event of a no-deal Brexit. Many Turkish firms lacked information on the consequences of a no-deal scenario and the losses would result from the United Kingdom raising import tariffs after Brexit in sectors, including steel, automotives and textiles. Even though both the countries want to sign a free trade deal, they cannot do so because of their international commitments with the European Union (EU).
Uzbek cotton removed from US child labour products list
AfDB backs launch of Pan-African Fashion initiative
Cambodia unveils policy to combat reliance on EU, US
Chinese enterprise revives Tajik cotton industry
Zimbabwe plugs loopholes in clothing manufacturers rebate
Malaysia plans 1st textile manufacturing hub
Egypt plans upgrade of State-run spinning & weaving firms
Uzbek Prez signs decree for textile sector reforms
Uzbek President Shavkat Mirziyoyev signed a decree for reforms in the textiles sector to reprocess raw cotton in the country and raise its export potential. The decree instructed the government to develop and approve within three months the concept of accelerated development of the textile and clothing-knitting industry from 2019 to 2025. Uzbekistan aims to raise the annual export volume of textile products to $7 billion by 2025. The decree provides various stimulating measures for enterprises engaged in export of textile products beginning April 1. Uzbekistan, the worlds sixth-largest cotton producer, produced 2.3 million tons of raw cotton in 2018.
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