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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Kenya Turns to EU for Export Growth Amid Trump Tariffs

As U.S. tariffs under President Donald Trump's administration continue to challenge African economies, Kenya is intensifying efforts to expand its export footprint in Europe...

American Circular Textiles Urges Biden Administration to Prioritize Domestic Textile Infrastructure in Trade Policy

American Circular Textiles (AMCIRC) has called on the U.S. administration to place textiles at the forefront of trade and industrial policy, warning that the...

India Eyes $100 Billion Textile Export Goal with Strategic Roadmap by Primus Partners

Primus Partners, a leading Indian consulting firm, has launched an ambitious strategic roadmap to propel India’s textile exports to USD 100 billion over the...

Uncertainty Around AGOA Renewal Prompts Africa to Rethink Trade Strategies

As the 25-year-old African Growth and Opportunity Act (AGOA) approaches its September 2025 expiration, experts across the continent are urging a strategic reassessment of...

UludaÄŸ Exporters’ Associations Close 2024 with Record-Breaking $38.6 Billion in Exports

Uludağ Exporters' Associations (UİB), Turkey's second-largest export hub according to General Secretariat data, concluded 2024 on a high note with an impressive $38.6 billion...

Ethiopia’s Textile Sector Faces Crisis Amid Calls for Minimum Wage Reform and Policy Overhaul

Ethiopia’s textile and garment industry, once hailed as a pillar of the nation’s industrialization strategy, is under growing pressure due to critical policy gaps...

U.S. Closes De Minimis Loophole, Boosting Domestic Textile Industry

The U.S. textile industry is celebrating a major policy shift following the closure of the de minimis import loophole, a move that has long...

U.S. Slams China’s Unfair Textile Trade Practices Amid Plant Closures

The United States has strongly criticized China’s trade practices in the textile and apparel sector, attributing the shutdown of 28 U.S. textile manufacturing plants...

AfCFTA Finalizes Rules of Origin for 92% of African Trade

A major milestone in African trade integration has been reached as the African Continental Free Trade Area (AfCFTA) finalized rules of origin for 92%...

Armenia Proposes Textile Joint Ventures with China

Armenia has extended an official proposal to China to establish joint ventures in the textile sector, aiming to leverage Chinese expertise and boost local...
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