Economy News

India-New Zealand FTA Creates US$2 Billion Export Opportunity for Indian Textile Industry

India's textile and apparel industry is expected to benefit significantly from the forthcoming India-New Zealand Free Trade Agreement (FTA), which is set to enhance bilateral trade, improve market access,...

NCTO Voices Concerns Regarding USTR’s Textile Mechanism, Part of Administration’s Section 301 Actions on Forced Labor

The National Council of Textile Organizations (NCTO), which represents the full spectrum of the U.S. textile industry from...

U.S. Textile and Apparel Industry Unites Behind New Trade Incentive Proposal

For the first time in recent years, leading U.S. textile manufacturers, apparel brands and retailers have jointly proposed...

Afreximbank: Africa’s Economy Grows 4.5% in 2025 Despite Global Trade Challenges

Africa strengthened its economic resilience in 2025, recording faster economic growth despite rising geopolitical tensions, slowing global demand...

Mohawk Cleared to Acquire Bremworth as Deadline Looms for New Zealand Wool Carpet Deal

Mohawk Industries has received regulatory approval to acquire Bremworth, bringing one of New Zealand’s best-known wool carpet manufacturers...

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Afreximbank to Launch $5 Billion Integrated Textile Hub in Nigeria as Part of Bold Industrialisation Agenda

In a landmark move set to reshape Africa’s textile landscape, the African Export-Import Bank (Afreximbank) has announced the construction of a $5 billion integrated...

Lesotho Declares National Disaster as Unemployment Crisis Deepens

The Kingdom of Lesotho has officially declared a state of national disaster in response to escalating unemployment rates that have reached alarming levels. The...

Morocco Seeks Trade Deal Review with Turkey Over Textile Deficit

Morocco is reportedly preparing to renegotiate its free trade agreement with Turkey as the North African nation looks to attract greater Turkish investments to...

Another Turkish Textile Giant Invests in Egypt: Ulusoy Tekstil to Launch $18 Million Project

Ulusoy Tekstil, one of Turkey’s leading textile manufacturers, is joining the growing list of Turkish companies investing in Egypt’s booming textile sector. The company...

Arab Bank “Best Bank in the Middle East 2025”

Arab Bank recently received the "Best Bank in the Middle East 2025" award from New York-based Global Finance magazine, reinforcing its strong leadership position...

China Backs Construction of Full-Cycle Textile Mill in Kazakhstan’s Turkistan Region

Kazakhstan is witnessing a significant boost to its textile industry with the construction of a full-cycle textile mill in the Turkistan region, supported by...

Eco-Innovation in Vietnam’s Textile and Garment Industry: A Driving Force for Sustainable Economic Growth

Vietnam’s textile and garment industry, one of the country’s key export sectors, is undergoing a crucial transformation fueled by eco-innovation. As global demand rises...

AfCFTA Faces Hurdles on Path to a Unified African Textiles and Apparel Value Chain

The African Continental Free Trade Area (AfCFTA) holds enormous promise for regional economic integration and industrial growth across Africa. But building a continent-wide textiles...

South Africa’s Clothing and Textile Sector Key to Economic Recovery, Says Deputy Minister Whitfield

The clothing and textile industry is poised to play a vital role in South Africa’s economic recovery and re-industrialisation, according to Deputy Minister of...

French Brand GEMO Begins Production in Benin’s Glo-Djigbé Industrial Zone

The Glo-Djigbé Industrial Zone (GDIZ) has officially welcomed GEMO, a major French ready-to-wear label, into its growing network of international textile partners. The move...
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