In a significant move towards bolstering sustainable growth and development in Africa, the Arab Africa Trade Bridges Program (AATB) has inked two pivotal agreements during the Intra Africa Trade Fair 2023 in Cairo, Egypt. The first agreement, a Grant Agreement between Hani Salem Sonbol, CEO of ITFC and Secretary General of AATB, and Dr. Hermogene Nsengimana, General Secretary of ARSO, is geared towards harmonizing African standards for textiles and leather products. 

This move aims to catalyze transformative change in the African Fashion Industry, aligning with the recent success in harmonizing pharmaceutical and medical device standards under the AATB Program, echoing the goals of the African Continental Free Trade Area (AfCFTA) agreement.

Additionally, a Partnership Agreement was sealed between ITFC and the International Trade Centre (ITC) under AATB's umbrella, marking the commencement of Phase Two for the "How to Export with the AfCFTA” Program. This collaborative initiative with Afreximbank focuses on training programs for countries like Benin, Cameroon, Senegal, and Togo. The program intends to raise awareness about the technical aspects and opportunities arising from the AfCFTA agreement, empowering enterprises to strategically leverage the benefits presented.

With a keen eye on promoting trade and investment development, these agreements underscore the pivotal role of large and small businesses in Africa's economic growth and structural transformation, aligning with the AATB program's commitment to drive positive economic impact across the continent.

Uzbekistan’s Generalised System of Preferences Plus (GST+) status has been extended for four years by the European Union with the country’s GSP+ status now ending on December 31, 2024. 

The initiative encouraged around 628 enterprises in Uzbekistan to export local products worth $647 million. They exported textile industry products worth $177.4 million to the EU markets.

The extension also enabled Uzbek exporters to save €28 million in import duties and grow their private sector tenfold between 2019 and 202.

At a recent press conference, European Union Monitoring Commission GSP+, appreciated the progress made by Uzbekistan in implementing the UN conventions by introducing new laws on women's rights and gender equality, combating violence, improving economic and social rights.

The beneficiary status of the GSP+ also enables Uzbekistan to expand trade and economic relations with European business representatives besides creating new jobs in the country. 

The Denim Futures campaign was launched last week by the Fabrica X, the Hong Kong based store operated by The Mills Fabrica. Through this campaign, the store gives consumers a glimpse of the entire fashion supply chain. 

Including an upcycling workshop, 3D digitalisation and opportunities to touch and feel new material innovations, the campaign features Unspun’s 3D body scanning, Renewcell’s biodegradable raw material Circulose and Circ, a chemical recycling technology that can recycle polycotton. 

It offers consumers denims curated by sustainable and future-focused brands like Story Wear, MATO, Sophie Hawkins and Klee and Klee,. 

Customers can also purchase from brands include Story Wear, a Taiwanese social enterprise that upcycles denim waste by skilled makers from disadvantaged backgrounds; MATO, a Hong Kong brand that combines traditional Japanese dye and stitching techniques; Sophie Hawkins, a London-based designer who uses circular manufacturing to produce jumpsuits; and Klee Klee, a Shanghai low-impact denim brand.

Supported by Lenzing, Levi’s and Advance Denim, the campaign will run for eight months. 

In a letter to Chattagram Custom House Commissioner, Syed Nazrul Islam, Senior Vice President, Bangladesh Garment Manufacturers and Exporters Association (BGMEA) urged customs authorities to make the clearance process more lenient by not imposing large fines.

This will help garment manufacturers address financial setbacks, Islam added. Fines imposed by the customs not only delay the permission process for product exports but also force garment makers to engage in expensive garment shipments to meet tight deadlines, he added further. 

Islam further emphasised on the need for streamlining the export process, especially after the submission of the bill of export.  He noted, Bangladesh’s garment exports declined by 13.90 per cent in October due to global economic slowdown.