Fashion
Bangladesh keen on finalising EPA talks with EU by 2028: Top official
The aim is to secure duty-free access to its largest export destination in the period following graduation from the least developed country (LDC) status in 2026, according to commerce secretary Mahbubur Rahman.
Bangladesh is keen on finalising talks on an economic partnership agreement (EPA) with the EU by 2028.
The negotiations are, however, yet to start.
The aim is to secure duty-free access to its largest export destination in the period following graduation from the LDC status in 2026, commerce secretary Mahbubur Rahman said.
Concluding the EPA negotiations with the EU may take three years, he noted.
The government has given approval to begin the negotiation process with the EU for that, he told a seminar on the Bangladesh-US tariff issue organised by the Bangladesh Institute of International and Strategic Studies (BIISS).
Concluding the EPA negotiations with the EU may take three years and the EU has assured that it will allow zero-duty trade benefits for Bangladesh up to 2029, Rahman was cited as saying by domestic media reports.
The government is prioritising signing free trade agreements (FTAs) with its major trade partners. It has concluded the final round of negotiations for signing an EPA with Japan. The first round of negotiations for signing a Comprehensive Economic Partnership Agreement (CEPA) with South Korea was completed last month.
On reducing the trade gap with the United States, Bangladesh has been constructing warehouses to facilitate the import and sale of US cotton, he added.
Fibre2Fashion News Desk (DS)
On a month-on-month basis, apparel imports rose *.** per cent in September **** to Au$*.*** billion, compared to Au$*.*** billion in September ****. This gradual increase is linked to seasonal restocking ahead of the year-end promotional cycle and anticipated holiday sales.
In contrast, imports of textile yarn, fabrics, and made-up articles (code **) increased by *.** per cent to Au$*.*** billion (~$***.** million) during July–September ****, up from Au$*.*** billion in the same period of the previous fiscal. The rise suggests steady activity in domestic manufacturing segments such as apparel, upholstery, and home textiles, where mills and converters are maintaining production schedules after earlier cost and demand adjustments.
The LYCRA Company, a global leader in innovative and sustainable fiber solutions for the apparel and personal care industries, today announced the official opening of its largest spandex production facility—the LYCRA fiber (Yinchuan) Plant in Ningxia Province, China. This milestone underscores the company’s continued investment in the Chinese market and highlights its strong commitment to developing localized supply and distribution networks while advancing smart manufacturing upgrades.
The LYCRA Company has announced the opening of its largest spandex plant in Yinchuan, China, investing over ¥ 800 million (~$1.12 million) with Yinchuan Financial Capital Investment Group.
The facility will add 30,000 tons of capacity and 500 jobs, with plans to expand to 120,000 tons.
It advances smart, sustainable manufacturing to meet growing Asia-Pacific demand for high-quality spandex.
With a total investment of more than RMB 800 million, the Yinchuan facility is being developed in partnership with The LYCRA Company and Yinchuan Financial Capital Investment Group. In its initial phase, the plant will add 30,000 tons of spandex production capacity, generating an annual output of over RMB 1 billion and creating approximately 500 jobs. Looking ahead, capacity is expected to expand to 120,000 tons annually, addressing the growing demand for high-quality spandex across China and the Asia-Pacific region, while enabling faster, more flexible supply chain solutions.
As The LYCRA Company’s second production site in China, the Yinchuan facility brings together the company’s expert management teams and global R&D capabilities to establish a highly automated, intelligent production ecosystem. Production at the Yinchuan facility will align with the company’s sustainability framework, driving energy savings, reducing emissions, and advancing manufacturing processes, ensuring that business growth and environmental responsibility remain inextricably linked.
“China is strategically important, representing over 50% of the global apparel production market, and this partnership enables us to optimize our product mix more broadly while meeting the increase in demand for quality spandex,” said Gary Smith, CEO of The LYCRA Company. “I would like to express my gratitude to the local authorities and all our partners for their support and commitment.”
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (HU)
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