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“Cambodia’s Resilient Exports: Navigating Growth and Global Markets”

“Cambodia’s Resilient Exports: Navigating Growth and Global Markets”

News, Retail News
"Cambodia's Resilient Exports: Navigating Growth and Global Markets" Cambodia’s exports topped $20.49 billion in the January-November period of this year, inched up by 1.2 percent compared to the same period last year, a General Department of Customs and Excise report said on Monday. Cambodia's exports exceeded $20.49 billion in the January-November period, showing a 1.2% increase compared to the same period last year. The United States remained the top destination with $8.14 billion in exports, despite a 0.9% decrease. Exports to Vietnam rose by 37.8% to $2.61 billion, and to China, they increased by 18.5% to $1.31 billion. The main exports included apparel, footwear, travel goods, bicycles, and agricultural products. The garment, footwear, and travel goods industry, employing arou...
Russia Downgrades Importance of India Trade, Emphasizing Agri and Textiles

Russia Downgrades Importance of India Trade, Emphasizing Agri and Textiles

News, Retail News
    Russia Downgrades Importance of India Trade, Emphasizing Agri and Textiles Moscow, Russia, December 11, 2023: Despite recent efforts to strengthen trade ties, Russia has downplayed the significance of its economic relationship with India, highlighting that Indian imports are primarily limited to agricultural and textile products. This statement reflects a shift in Russia's economic priorities and its continued focus on strengthening relations with traditional partners. Limited Trade Scope: While Russia has recently emphasized its desire to diversify its trade partnerships, India's contribution to its overall trade remains relatively small. According to Russian officials, Indian imports primarily consist of agricultural products like tea and rice, along with textile...
SC Port Sees New Trade Route with India as Global Supply Chains Shift

SC Port Sees New Trade Route with India as Global Supply Chains Shift

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SC Port Sees New Trade Route with India as Global Supply Chains Shift Charleston, SC, December 10, 2023: The Port of Charleston has secured a new container service directly linking it with India, a major development reflecting the ongoing reshuffling of global supply chains. This new route, operated by shipping giant CMA CGM, will offer direct weekly service between Charleston and Nhava Sheva, India's largest container port. This significantly cuts down transit times and offers a more efficient alternative for importers and exporters looking to move goods between the two countries. The addition of this new trade route is a major win for the SC Port and a testament to its continued growth and strategic importance. It underscores the increasing role of the port as a gateway for trade betw...
SECP REGISTERS 2,234 NEW COMPANIES IN NOVEMBER 2023, REFLECTING 8% GROWTH

SECP REGISTERS 2,234 NEW COMPANIES IN NOVEMBER 2023, REFLECTING 8% GROWTH

News, Retail News
"SECP Registers 2,234 New Companies in November 2023, Reflecting 8% Growth" In November 2023, the Securities and Exchange Commission of Pakistan (SECP) recorded the registration of 2,234 new companies, marking an 8% growth in the first five months of the current financial year compared to the same period last year. The total number of registered companies has now reached 207,654, with a total capitalization of Rs. 7.74 billion for the newly incorporated companies this month. Approximately 58% of the companies registered were private limited, while 39% were single-member companies, and the remaining 3% included public unlisted companies, not-for-profit associations, trade organizations, limited liability partnerships (LLP), and foreign companies. Two foreign companies have established a...
Textile Sector Reveals Plan to Reach $50 Billion in Exports

Textile Sector Reveals Plan to Reach $50 Billion in Exports

News, Global, Retail News
  ISLAMABAD: The Export Advisory Council (EAC) on Friday held its inaugural meeting under the chairmanship of Caretaker Minister for Commerce, Dr Gohar Ejaz, charting the course for Pakistan’s $100 Billion Export Vision. The council considered proposals to elevate domestic exports to $50 billion within the next five years, said a news release here. The minister expressed confidence that, with concerted efforts and strategic initiatives, Pakistan’s textile exports could reach $50 billion, contributing significantly to the country’s economic growth. Commerce minister visits KCCI: ‘Govt finalising long-term plan to achieve $100bn export target in five years’ He stressed that a robust export strategy could potentially alleviate the burden of debt, positioning Pakistan compe...
Indian textile roadshow held in Istanbul

Indian textile roadshow held in Istanbul

News, Global, Retail News
  Organized by a consortium of Indian textile export promotion councils, Bharat Tex stands as India's largest global textile event, encompassing the entire textile value chain from farm to fashion. During the event in Istanbul, Consul General of India Mijito Vinito highlighted the untapped potential between India and Türkiye in the textiles sector, an area with shared focus and impact on both nations. Bhadresh Dodhia, Chairman of the Synthetic and Rayon Export Promotion Council (SRTEPC), invited Türkiye's textile sector to participate in Bharat Tex, emphasizing the significant opportunities for mutual benefit through partnerships. The textile event drew a significant attendance of exporters, buyers, and leaders from textile associations in Türkiye. During the event, t...
Germany Government and Businesses Eager to Strengthen Bilateral Trade Ties

Germany Government and Businesses Eager to Strengthen Bilateral Trade Ties

News, Global, Retail News
In Karachi, Muhammad Usman, Pakistan’s Representative in the German Emirati Joint Council for Industry & Commerce (AHK), highlighted the growing interest of the German government and businesses in strengthening trade and investment ties with Pakistan. He mentioned the establishment of a Pakistan desk at AHK in Dubai as a response to this interest. The German delegation expressed a desire to expand ties between German Small & Medium Enterprises (SMEs) and Pakistan, with AHK facilitating connections through networking, business-to-business meetings, and trade delegations' visits. The German Consulate in Karachi and the Karachi Chamber of Commerce and Industry (KCCI) welcomed the delegation, discussing potential collaboration in sectors such as renewable energy, sustainable textile...
Türkiye and Bangladesh: Potential Contenders to China’s EU Apparel Export Throne?

Türkiye and Bangladesh: Potential Contenders to China’s EU Apparel Export Throne?

News, Apparel and Fashion News, Global, Retail News
While China has long dominated EU apparel exports, recent developments have raised questions about whether Türkiye or Bangladesh could potentially take the lead. Both countries possess distinct advantages that make them attractive alternatives to China in the eyes of European buyers. Türkiye's Advantages: Proximity: Türkiye's geographical proximity to the EU offers significant logistical advantages, including shorter delivery times and lower transportation costs. EU Customs Union Membership: As a member of the EU Customs Union, Türkiye enjoys duty-free access to the European market, providing a cost advantage over other non-EU exporters. Rapid Growth: Türkiye's textile and apparel industry has witnessed rapid growth in recent years, with exports to the EU increasing steadily. T...
EU Says No More to Waste: Ban on Destroying Unsold Clothing Approved

EU Says No More to Waste: Ban on Destroying Unsold Clothing Approved

News, Apparel and Fashion News, Global, Retail News
EU Says No More to Waste: Ban on Destroying Unsold Clothing Approved The European Union has taken a significant step towards sustainability by approving a ban on the destruction of unsold clothing and footwear. This new law, which will come into effect two years after its official adoption, aims to curb textile waste and promote circularity in the fashion industry. The decision marks a major victory for environmental groups and advocates for sustainable fashion. The textile industry is a major contributor to pollution and waste, with large amounts of unsold clothing ending up in landfills or incinerators. This new law will force clothing companies to find alternative solutions for their unsold items, such as donating them to charities, selling them at discounted prices, or recycling th...
Adani Ports Eyes Acquisition of Gopalpur Ports, Retail Auto Sales Reach New Heights

Adani Ports Eyes Acquisition of Gopalpur Ports, Retail Auto Sales Reach New Heights

Retail News, Global, News
  Indian business giant Adani Ports and Special Economic Zone (APSEZ) is reportedly in advanced talks to acquire Gopalpur Ports Limited (GPL) from the Shapoorji Pallonji Group for an estimated equity value of Rs 1,100-1,200 crore. This move aligns with APSEZ's ambitious expansion strategy and reinforces its dominance in the Indian port sector. Meanwhile, the Indian retail automobile industry has witnessed a historic peak in sales, exceeding all previous records. Passenger vehicle sales soared by 23% year-on-year in November 2023, driven by strong demand across segments and favorable festive season buying sentiments. This remarkable growth highlights the continued recovery and resilience of the Indian automotive sector. Here's a closer look at both these developments: Ada...