Change in policies and norms led to various alterations in the global trade scenario throughout the year 2018. There were a lot of ups and downs in the apparel industry and governments representing different countries came up with many new policies and amended the existing ones to ensure smooth trade flow across the global apparel industry. We at Apparel Resources, analysed and picked out the top stories that created positive impact on the global apparel trade.
UK will finally lift air cargo ban on Bangladesh
Britain finally agreed to lift the ban on direct air cargo from Bangladesh which stood in place for two years, the decision yielded benefits for Bangladesh’s apparel manufacturers and exporters throughout the year 2018.
Read full story here: https://apparelresources.com/business-news/trade/uk-will-finally-lift-air-cargo-ban-bangladesh/
11 nations ink CPTPP agreement to bolster trade, US excluded
The much-expected Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) was also became official on March 8, 2018, allowing the member nations to move forward with economic integration without the US.
Read full story here: https://apparelresources.com/business-news/trade/11-nations-ink-cptpp-agreement-bolster-trade-us-excluded/
Indian govt approves funds for Export Credit Guarantee Corporation, National Export Insurance Account
The centre gave a nod to a capital infusion of Rs. 2000 crores and Rs. 1,040, to boost the Export Credit Guarantee Corporation (ECGC) and National Export Insurance Account Trust (NEIA), respectively in line to enhance the textile exporters of the country.
Read full story here: https://apparelresources.com/business-news/trade/indian-govt-approves-funds-export-credit-guarantee-corporation-national-export-insurance-account/
India targets ASEAN to increase textile exports
India worked aggressively on the upliftment of its international relations and business opportunities with different nations. As a pivotal part of this measure, ASEAN countries are now focussing in India.
Read full story here: https://apparelresources.com/business-news/trade/india-targets-asean-increase-textile-exports/
Japanese companies keen to shift production from China to B’desh
Labour wages in the Chinese textile and readymade garment sector surged so significantly that several Japan-based organisations operating in China announced that if the prices keep on soaring, they will move operations to Bangladesh.
Read full story here: https://apparelresources.com/business-news/trade/japanese-companies-keen-shift-production-china-bdesh/
Registration of RMG & Textile units with DoT made compulsory
With the introduction of Textile Act-2018 it was made mandatory for every textile and RMG unit owner to get their concerned units registered with the Department of Textile.
Read full story here: https://apparelresources.com/business-news/trade/registration-rmg-textile-units-dot-made-compulsory/
