Pakistan will have an agreement with Uzbekistan for agriculture research and technology transfers. This is aimed at improving cotton production in Pakistan. Uzbekistan has huge cotton stocks which it is willing to export to Pakistan. Uzbekistan also has the capacity to make its own cotton seeds and develop special seeds for Pakistan which are resistant to pest attacks.

Pakistan also aims at importing cotton seeds from Uzbekistan which are resistant to various diseases. Uzbekistan is also ready to extend assistance to Pakistan’s fisheries sector. Samarkand and Bukhara in Uzbekistan are unique agriculture centers where cotton clusters are set up for small farmers. Pakistan hopes to replicate such a model. Cotton picking tools and tractors from Uzbekistan are working in Pakistan on a trial basis. Uzbekistan hopes to import sugar, dairy and meat from Pakistan.

Bilateral trade between Pakistan and Uzbekistan is hampered by certain issues. These include: lack of direct cargo links, safe and direct land routes, marketing strategies, knowledge of Pakistani products, visa facilitation and costly transportation by air.

Jeanologia has joined the Sustainable Apparel Coalition (SAC). The Spanish company will use the group’s sustainability measurement suite of tools, the Higg Index, to drive environmental and social responsibility throughout its supply chain.

Jeanologia is a pioneer in the development of sustainable technologies. The company leads the transformation of the textile industry with disruptive technologies which guarantee zero contamination. With its membership in the SAC, Jeanologia joins more than 220 global brands, retailers, and manufacturers, as well as government, non-profit environmental organizations, and academic institutions, which are collectively committed to improving supply chain sustainability in the textile industry.

The Higg Index is an indicator-based suite of tools that enables suppliers, manufacturers, brands, and retailers to evaluate materials, products, facilities, and processes based on environmental performance, social labor practices, and product design choices.

In its relationship with SAC, Jeanologia will contribute both data and resources to support the Higg Index, which measures sustainability performance and drives supply chain transparency and decision-making to improve efficiency and sustainability impact. SAC aims at the transformation of the textile industry into a more sustainable one by bringing together all industry stakeholders, and setting up the necessary standards to measure sustainability performance of the complex textile manufacturing process.

Indonesia has concluded a free trade agreement with the European Free Trade Association (EFTA). EFTA is an intergovernmental organisation representing Iceland, Liechtenstein, Norway and Switzerland. The agreement covers a wide range of issues, including the trade in goods and services between the two parties, investment protocols, mutual acknowledgement of intellectual property rights and participation in future government procurement initiatives.

In 2017, total merchandise trade between Indonesia and the EFTA bloc amounted to $2.3 billion. Of this, Indonesia’s EFTA-bound exports totaled $1.7 billion while its imports from the four-string trading group was $597 million.

Indonesia is hoping for a series of trade agreements. For Indonesia, trade agreements with partner countries can increase the export value and increase market share. With such agreements in place Indonesia expects its exports of textile and textile products to increase three-fold.

The industry in Indonesia wants downstream products to be protected from the onslaught of imports. One agreement Indonesia has is with Australia. Another is the Regional Comprehensive Economic Partnership, a proposed free trade agreement between Asean and China, India, Japan, South Korea, Australia and New Zealand. Yet another is with the European Free Trade Association. Agreements with Mozambique, Tunisia and Morocco are expected to be completed soon.

Cracks are beginning to form around the world. The world’s two largest economies -- the United States and China -- are starting to cool. The central danger to global outlook is the US trade conflict with China, due to the potential to spillover to the rest of the world. The dispute threatens to derail, halt or shift hundreds of billions of dollars in global trade but the US also is threatening tariffs on auto imports.

Steep US tariffs on steel and aluminum already have hit the bottom line of American manufacturers. Continued escalation of the tariff threats could cut 0.8 percentage points off global growth. The trade conflict threatens to undercut growth, hamper investment and spur US inflation.

The US recovery will soon become the longest in recorded history but the boost provided from last year’s tax cuts is dwindling. Rising interest rates and a shortage of workers are crimping the housing market. Other worries are the surge of borrowing by heavily indebted companies, the huge weight of US student loan debt and the impact of rising interest rates on home buying. Europe faces political and economic upheaval and Japan remains in a long-term funk. Chinese manufacturers say they feel they’re entering a slowdown and that they are being hurt already due to higher export costs and overcapacity.

As per a study published by think-tank Third World Network, India’s three free trade agreements with the ASEAN, Japan and South Korea have resulted in growing deficits in merchandise trade. The government is at present focused on how to make India’s free trade agreements deliver more for all stakeholders and has also employed three think-tanks to analyse the on-going RCEP negotiations.

After the initial spurt in middle of the previous decade, trade imbalances increased sizably after the three Comprehensive Economic Partnership Agreements (CEPA) with the ASEAN, Japan and Korea came into effect. Trade deficit with the three countries, which stood at $4.5 billion in 2004 and $16.4 billion in 2010, shot up to $29.7 billion in 2015 before cooling down a bit to $26.6 billion in 2016.The three CEPAs not only resulted in rising imports but also a progressive slowdown of exports.

Available trends in both exports and imports point to a hollowing out of the manufacturing base, which has prompted the present government to initiate measures for the revival of the manufacturing sector.

Promincor, Lingerie Française (Association for the Promotion of Corsetry Industries) and DEFI (Committee of Promotion and Development for the Clothing) will host the French Lingerie show in Paris on January 20, 2019. The show will attended by 14 prestigious French lingerie brands viz: Antigel, Antinéa, Aubade, Chantelle, Empreinte, Eprise, Epure, Implicite, Passionata, Lise Charmel, Lou, Louisa Bracq, Maison Lejaby, and Simone Pérèle .

Five guest French designers will present their latest collections to an audience of 600 people that include media, influencers and international buyers. This year, the show will have a rock twist with a live concert, unique scenography, and dances pieces as a contemporary ode to excellence, organisers report. With the theme Parisian Rock, French lingerie, which shines like a beacon all over the world, will display the heritage, know-how, passion and innovation of its iconic brands.

The European Union and Japan will launch the world’s largest free-trade zone early next year. This will create the world’s largest open economic area. The agreement will remove EU tariffs of 10 per cent on Japanese cars and three per cent for most car parts. It will scrap Japanese duties of some 30 per cent on EU cheese and 15 per cent on wines as well as open access to public tenders in Japan.

It will also open up services markets, such as financial services, telecoms, e-commerce and transport. The two economies account for about one-third of global gross domestic product. The agreement is expected to boost the EU economy by 0.8 per cent and Japan’s by 0.3 per cent over the long term. The deal is expected to bring clear benefits to EU companies and farmers.

Japan had been part of the 12-nation Trans-Pacific Partnership but then turned focus on other potential partners after the US pulled out. The EU has also looked elsewhere after Transatlantic Trade and Investment Partnership negotiations with the US stalled in 2016.

Europe’s food sector is one of the biggest winners from the deal, which should allow it to capitalize on Japanese demand for high-quality cheese, chocolates, meats and pasta.

During the first five months of the current fiscal year Bangladesh’s export earnings from India rose 165 per cent. Since giant business groups such as Reliance and Tata have opened up retail chain shops across India, gives an opportunity to Bangladesh to become a prominent supplier to these companies.

Another fact is that the Indian domestic market has grown and the number of fashion conscious consumers has increased. This is a win-win situation for both countries since Bangladesh imports readymade garment raw materials such as cotton and machinery from India.

Goods coming from Bangladesh are exempt from GST. This has a positive impact on imports from Bangladesh into India. What also helps is that the Indian market is closer to Bangladesh compared to the European and the US markets. The shipment time from Bangladesh to India is barely four hours.

In the first five months of the current fiscal year, Bangladesh’s export earnings from Germany grew 15.50 per cent. Export earnings from the UK grew 2.55 per cent. Earnings from Spain grew 12.81 per cent and earnings from the Netherlands were 13.14 per cent more than last year. Bangladesh’s currency has depreciated against the dollar and that is a strong reason behind the continuous growth in exports to European countries.

Denim Première Vision, the denim trade show’s first London edition on December 5 and 6 registered a 17 per cent growth in visitors from its November 2017 session held in Paris. Most visitors were from the UK and Europe. The labels whose buyers attended the event ranged from Dior to Givenchy, from Paul Smith and Giorgio Armani to Tommy Hilfiger, Levi’s, Asos and Celio.

The dates for the next show in Milan were also finalised. Denim PV’s next session will be held on May 28-29, and will not overlap with the Kingpins New York show nor with Eid al-Fitr, the Muslim feast for the end of Ramadan. Denim PV will stick to the new itinerant format in future, with the cities of Berlin and Stockholm mentioned as potential venues.

Asia is expected to meet its growth forecasts for this year and the next on strong domestic demand and easing inflation pressures. For this year and the next, China is expected to grow at 6.6 per cent and 6.3 per cent. India is expected to grow at 7.3 per cent and 7.6 per cent.

The Asian region as a whole is expected to grow at six per cent in 2018 and 5.8 per cent in 2019. However, the trade conflict between the US and China poses a risk to economic prospects in the region. Another risk is from the rising tide of trade protectionism.

The Asian Development Bank has raised its 2019 growth outlook for Central Asia to 4.3 per cent from the September projection of 4.2 per cent. The forecasts for southeast Asia and south Asia for the next year have been lowered to 5.1 per cent and 7.1 per cent respectively.

Easing commodity prices and central bank policy actions could cause the pace of inflation in developing Asia to settle at 2.6 per cent this year and to 2.7 per cent in 2019. Early this month, the US and China agreed to a 90-day truce on further tariffs as they try to negotiate a deal.