Saad Tex Inc.,

08/02/2020

Pakistani Prime Minister Imran Khan recently declared a national emergency in response to swarms of desert locusts in the areas of south and upper Punjab. The locusts, believed to have arrived from Iran in June, have ravaged cotton, wheat, maize and other crops. A favourable weather and delayed response have reportedly helped them breed and attack crop areas.

The locust swarms are currently on the Pakistan-India border and were previously in Sindh and Balochistan. Their potential for large-scale destruction is raising fears of food insecurity, according to a report in a Pakistani newspaper.

"We are facing the worst locust infestation in more than two decades and have decided to declare a national emergency to deal with the threat," Information Minister Firdous Ashiq Awan said.

The government will take all possible steps and provide required facilities to protect crops from any possible danger, Khan said. The last time Pakistan saw a serious threat of locusts was in 1993.

31/12/2019

07/11/2018

Three days of interactive speakers forum, unparalleled exhibits and collections, and networking opportunities that bring you the best from the global textile industry.

26/10/2018

Pakistan imposes regulatory duty on textile items

To strengthen the local textile industry, Pakistan’s Federal Board of Revenue (FBR) has imposed regulatory duty on the import of various textile items. Notification no SRO 640(I)/2018, released in May this year, has been issued for imposing duty on imported items including textiles falling under the Pakistan Customs Tariff (PCT) code of the first schedule.
In effect from early this month, the FBR has imposed 50 per cent duty on the articles of apparel and clothing accessories, of leather or of composition leather. Footwear with outer soles of leather or composition leather and uppers of textile materials will be charged 40 per cent.

Further, the government has taxed 10 per cent on woven fabrics of cotton containing 85 per cent or more by weight of cotton, mixed mainly or solely with manmade fibres and other woven fabrics of cotton, 8 per cent on woven fabrics of synthetic filament yarn and artificial filament yarn.

Import of cotton yarn (other than sewing thread), woven fabrics of polyesters, artificial staple fibres and synthetic staple fibres is charged 5 per cent. While, 2 per cent regulatory duty is imposed on yarns from synthetic staple fibres, artificial staple fibres and man-made staple fibres. (RR)

25/10/2018

EU-Vietnam trade pacts to remove over 99% of all tariffs

The European Commission (EC) in Brussels recently adopted the European Union (EU)-Vietnam trade and investment agreements, giving way to their signature and conclusion. The agreements will eliminate over 99 per cent of customs duties on goods traded between the two sides and also includes a strong, legally binding commitment to sustainable development.

The sustainable development commitment includes respect of human rights, labour rights, environmental protection and the fight against climate change, with an explicit reference to the Paris Agreement, according to global news wires.

The trade and investment agreements take fully into account the economic differences between the two sides, EC president Jean-Claude Juncker told the Asia-Europe Meeting (ASEM)-EU Summit in Brussels.

ASEM is an Asian-European political dialogue forum to enhance relations and various forms of cooperation between its partners.

Vietnam will remove 65 per cent of import duties on EU exports from entry into force of the agreement, with the remainder of duties being gradually eliminated over a ten-year period, to take into account that Vietnam is a developing country.

EU companies can participate on an equal footing with Vietnamese firms in bids for procuring tenders in Vietnam’s state-owned enterprises. (DS)

12/10/2018

Taipei Innovative Textile Application Show is a 3 day event being held from 16th October to 18th October 2018 Taipei Nangang Exhibition Centre in Taipei, Taiwan.

This event showcases products like OEM / ODM Apparel & Accessories, Textile Technology & Related Services etc. in the Textile, Fabrics & Yarns industry.

12/10/2018

Bangladesh and Sri Lanka will be signing a free trade agreement (FTA) to expand bilateral trade, especially for export of readymade garments from Bangladesh to Sri Lanka. Chances are, the agreement will be signed in this month.
A high powered business delegation of Sri Lanka led by its Development Strategic and International Trade Minister Malik Samarawickrama visited Dhaka and discussed the issue with government officials and apparel trade bodies in this regard on October 11, 2018.