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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Alarming Decline in Turkey’s Textile and Apparel Industry: $7 Billion Production Loss and 210,000 Jobs Gone

The Turkish textile and apparel sector, one of the country’s most vital industrial pillars and a major source of employment, is facing its most...

Uzbekistan’s Textile Exports Reach $1.7 Billion in First Eight Months of 2025

Uzbekistan exported textile products worth $1.7 billion in the first eight months of 2025, according to the National Statistics Committee. This figure represents 7.3...

China and Uzbekistan Deepen Cooperation Beyond Energy and Infrastructure

As relations between China and Uzbekistan expand, their partnership is no longer limited to traditional sectors such as energy and infrastructure. New areas of...

Nigeria to Showcase Trade Prospects at Türkiye-Africa Forum 2025

Nigeria is set to take centre stage at the upcoming Türkiye-Africa Business and Economic Forum (TABEF) 2025, with the Chairman of the Nigeria-Türkiye Business...

Behind the Surge of Fabric Imports: A Serious Alarm for Iran’s Textile Industry

Iran’s textile industry has long been struggling with numerous challenges — from outdated machinery and insufficient investment in modern technologies to smuggling and uncontrolled...

New Zealand and Saudi Arabia Launch Business Council to Boost Trade Ties

New Zealand’s Minister for Trade and Investment, Todd McClay, and Saudi Arabia’s Minister of Investment, Dr. Majid bin Abdullah Al-Kassabi, have signed a joint...

Vandewiele Group at ITMA ASIA Singapore 2025

At ITMA ASIA Singapore 2025, Vandewiele Group brands will converge to showcase breakthrough technologies across weaving, spinning, knitting, finishing, and digital solutions. From carpet...

Pakistan’s Textile Exports Rise Nearly 10% to $3.2 Billion in July–August

Pakistan’s textile exports, the backbone of its economy and a key supplier to global fashion brands, rose nearly 10 percent year-on-year to $3.2 billion...

Africa Awaits AGOA Lifeline as Extension Hangs in the Balance

As the African Growth and Opportunity Act (AGOA) nears its scheduled expiration on September 30, 2025, African nations—particularly those with textile-driven economies—are anxiously awaiting...

Garanti BBVA and Ivy Decarb Partner to Finance Textile Industry’s Green Transition

Garanti BBVA, the Turkish unit of Spain’s BBVA, has partnered with Ivy Decarb Marketplace to accelerate decarbonization in Turkey’s textile sector. The initiative will...
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