"The EU is a most important export destination with 40 per cent share, for the Sri Lankan players. Industry estimates suggest that exports to the EU rose from $1billion in 2005, when GSP+ was granted, to $1.7billion in 2010. And while exports have been on the rise since then, with $2billion reported last year, industry players are of the opinion that duties on exports are impediments to the export target of $8.5billion-per-annum."

Setting a goal of reaching $8.5billion in clothing exports per annum by 2020, Sri Lanka's apparel manufacturing segment is looking forward to regaining the GSP+ status from EU.

Efforts on to regain GSP + plus from EU: While Sri Lanka has emerged the international centre for apparel manufacturing with high-value segment particularly showing growth momentum, in 2010, the European Commission decided to temporarily revoke the low or non-existent tariffs awarded to the country under the Generalized System of Preferences Plus (GSP+) scheme after investigation alleged human rights abuses at the end of the country's civil war. However, the country does enjoy the standard GSP scheme with fewer, preferential import tariffs.

The EU is a most important export destination with 40 per cent share, for the Sri Lankan players. Industry estimates suggest that exports to the EU rose from $1billion in 2005, when GSP+ was granted, to $1.7billion in 2010. And while exports have been on the rise since then, with $2billion reported last year, industry players are of the opinion that duties on exports are impediments to the export target of $8.5billion-per-annum.

Green signal to GSP+ from the EU: While Sri Lankan government is doing its bit to regain the status, the EU has expressed its willingness to grant the GSP+ status to Sri Lanka. For instance, in its most recent statement on the issue, released in mid-November, the European Council said, "It takes positive note of the progress recently achieved" and called on "the High Representative and the European Commission to continue to engage with Sri Lanka to support its efforts to lay the groundwork for a renewed application for GSP+".

Amid rising production costs, countries are exploring lower-cost locations such as Southeast Asian countries but many companies are also eyeing South Asia - mainly Sri Lanka as an alternative production base. The country is known as one of the world's most renowned fashion sourcing locations, with a wide range of global brands - including Victoria's Secret, Gap, Marks & Spencer and Nike - regularly buying from the island's apparel manufacturers.

A positive growth in Pakistan's textile industry

In 2014-15 textile exports rose to $13.8 billion which pushed up Pakistan's total exports to more than $24 billion. Top global brands like Levi's, GAP, Nike, Adidas, Jordache, Diesel, Polo to name a few are sourcing from the country. Pakistan's lawn, bed linen and denim fabric have made a name worldwide."

Pakistan's textile industry is one of the most important sectors of the economy with one of the longest production chain, inherent potential for value addition at each stage of processing, from cotton to ginning, spinning, fabric, dyeing and finishing, made-ups, and garments. Textiles products have maintained an average 54 per cent share of national exports barring seasonal and cyclical fluctuations.

Cloth production on the rise: Pakistan's total production of cloth (mill and non-mill sector) rose from 8,524 billion sq. mt. in 2005-06 to 11,850 billion sq. mt. in 2014-15. The total fabric production of non-mill loom sector is more than 90 per cent. Thus, weaving capacity continues to enjoy a predominant position. Setting up of shuttle-less weaving machines has resulted in high growth of fabric production. The largest consumer of cotton yarn is supposed to be shuttle-less weaving sector, while the non-mill weaving sector contributes to exports by producing low quality sheeting fabrics.

Pakistan's value-added textile products exports rose 7.5 per cent to touch $4.517 billion in 2014-15. Exports of readymade garments grew 10.5 per cent to reach $2.10 billion, and of knitwear raised 5.37 per cent to $2.42 billion compared to $2.29 billion during the previous year. Since many of the countries that enjoy the GSP status are not expected to fall in the GSP Plus group, Pakistan is in a position to export more to the EU on low duties. In 2014-15 textile exports rose to $13.8 billion which pushed up Pakistan's total exports to more than $24 billion. Top global brands like Levi's, GAP, Nike, Adidas, Jordache, Diesel, Polo to name a few are sourcing from the country. Pakistan's lawn, bed linen and denim fabric have made a name worldwide.

By 2019 global cufflinks market to grow over 9.87%

"Varying customer preferences in terms of style, design, and comfort are fuelling the demand for customised cufflinks globally. In response to the changing needs and demands of consumers, many manufacturers have introduced customized cufflinks, incorporating photos, monograms, and so on. The growing demand for customization is expected to drive the global cufflinks market in the forecast period."

A latest report titled 'Global Cufflinks Market Analysis 2015-2019' by Research and Markets covers the growth prospects of the global cufflinks market with segmentations based on product types and retail formats. The report says that increasing online retailing is driving the sales of cufflinks, and the market is expected to reach a CAGR of over 9.87 per cent during the forecast period.

Reason behind rapid growth and key players: According to the report, the growth in online retailing has contributed to market growth and the rise in urbanization and per capita expenditure in developing countries also contribute to market growth. For instance, according to the Ministry of Statistics and Program Implementation, India's total disposable personal income grew by 5.7 per cent and reached $2,097.23 billion in 2014. This rise in GDP led to an increase in purchasing power among consumers.

US has opposed India's latest round of incentives to boost exports: Alleging violation of a global trade rule for export competitiveness in textiles, the US has opposed India's latest round of incentives to boost exports. The US raised this issue after India increased support for exports of several products including textiles while expanding the scope of the Merchandise Exports from India Scheme (MEIS).

Leading markets including African countries came under government exports of cotton fabrics, both woven and knitted, and made-ups, under the MEIS. When the export share of a developing country with per capita income below $1,000 a year touches 3.25 percent in any product category for two consecutive calendar years, it is deemed to have gained 'export competitiveness'. This is as per the World Trade Organisation's agreement on subsidies and countervailing measures.

India cannot give additional subsidy during the phase-out period said a US official and the US has flagged the issue of export competitiveness in textiles. India has crossed the export limit and the government is aware of this but the market is moving slow, said another official in the Cotton Textiles Export Promotion Council.

EU-Vietnam conclude negotiation of free trade pact

Prime Minister Nguyen Tan Dung and President of the European Commission (EC) Jean-Claude Juncker were present at the signing ceremony of the trade pact between both these nations. The event was celebrated as the 25th anniversary of the Vietnam-EU diplomatic ties.

Vietnam and the EU agreed to complete the process of the deal negotiations as soon as possible to put the pact into effect at the beginning of 2018. In October 2010, the Prime Minister of Vietnam and the EC President agreed to commence talks on the EVFTA after completing all necessary technical procedures. The two sides announced the official launch of negotiations on June 26, 2012. After nearly three years with 14 official rounds of talks and multiple mid-term negotiations at ministerial, head of delegation, and working levels, Vietnam and the EU finally completed the negotiations on trade pact.

Vietnam and the EU will eliminate tariffs on over 99 per cent of tariff lines. For the few remaining lines, the two sides will give each other a certain customs quota or partial reduction of customs tariff. The EU is currently the second biggest trade partner of Vietnam, with two-way trade increasing from $17.75 billion in 2010 to $36.8 billion in 2014. In the first half of 2015, bilateral trade topped $19.4 billion, a year-on-year rise of 11 per cent. Of which, Vietnam grossed $14.9 billion from exports to the EU and imported $4.5 billion worth of goods from the market.

Vietnam Textile export to rise 11.50% till 2020

According to the estimates by the Vietnam Textile and Apparel Association (Vitas), the garment and textile sector in the country is expected to grow its exports by an average of 11.5 per cent per year between now and 2020.

Vitas report said the sector is expected to generate export revenue of $27.5 billion this year, and increase this value to $31 billion next year and $45 billion to $50 billion by 2020. In the first nine months of this year alone, Vietnam's garment and textile exports totalled $20 billion, an increase of 10 per cent over the same period last year.

The garment and textile exports to this market may hit $20 billion by 2025. Vietnam has been among the top 10 garment and textile exporters in the world for the last 10 years. Last year, it ranked fifth after China, Turkey, Bangladesh and India.

The country exports its products to 180 countries and territories, with the United States, the European Union, Japan and South Korea being major markets. It is also exploiting emerging markets such as Russia and Australia.

India's textile export to grow by 2016

India's textile exports are expected to grow to $18 billion by the end of 2015 and $20 billion by 2016, says a Investment Information and Credit Rating Agency (ICRA) report on global textile positioning of Indian and other textile giants of the world. However, the depreciated rupee is unlikely to remain as a sustainable advantage in the long term as India's market share in world trade has not significantly changed during the last three years. India's share in global trade was four per cent last year and has increased by only three per cent in 2004. Reasons for the slow growth include: fragmented nature of weaving, processing and garmenting industries.

India is among the largest producers of cotton and manmade fiber, equipped with the second largest capacity for spinning and weaving. Meanwhile China remains the largest exporter as a result of its huge global capacities across the textile value chain.

Cambodia wants its exports to US

Cambodia wants its exports to the US to be given duty- free and quota-free access. Cambodia wants the US to provide Generalised System of Preferences to at least 97 per cent of its commodities, with tariff exemptions and quota-free access, in accordance with the previous agreement under the WTO framework.

At a 2005 meeting of the World Trade Organisation, developed nations had pledged to provide extend duty-free and quota-free status to at least 97 per cent of products originating from less developed countries. Many developed economies, including Australia, Canada and the EU, have enacted special programs that extend duty- and quota-free treatment to all imports from LDCs with the exception of arms.

The US currently provides duty-free status to over 5,000 types of products produced in Cambodia as part of its Generalised System of Preferences program. It granted Cambodia GSP trade privileges in 1996 along with the Most Favored Nation (MFN) status, which reduces tariffs on eligible products.

Unemployment in Pakistan's textile is to rise

According to the All Pakistan Textile Mills Association (APTMA) Chairman Aamir Fayyaz unemployment of textile workers is on the rise in Punjab region of Pakistan because of the delay in the announcement of textile package by the government. He said that over two dozen mills have been totally closed down in the province while a large number of mills have reduced to their operations to two shifts, which has left thousands of textile workers jobless.

He said that the exports data of last four months has indicated a continuous decline in textile exports, however the government has been delaying the announcement of textile package since August. Despite Prime Minister Nawaz Sharif's assurance, there is no news of any textile package by the government yet, he added.

In 2020, he said, the projected growth of Bangladesh, India and China would be 6 per cent, 7 per cent and 56 per cent in the world market against 1.4 per cent of Pakistan, which stands at 1.6 per cent at present.

Kenya looks to revive textile industry

Kenya's apparel industry is small, with an estimated 30,000 workers, versus the industry in Bangladesh that employs 4.2 million people. In Kenya, the industry comprises only six per cent of the small manufacturing sector. The country is now trying to grab a larger slice of the global clothing market. Textile manufacturers are being lured with subsidies and reduced power costs.

Kenya's textile industry can be divided into cotton growing and ginning, yarn and thread production, fabric and apparel manufacture. There are some 35 textile mills in the country. Demand for textiles in the country is growing at 3.8 per cent a year.