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In a setback for the world's largest cotton producer, China's annual cotton production witnessed a significant decline of 6.1% in 2023, falling to 5.618 million tonnes, according to data released by the National Bureau of Statistics (NBS). Unfavorable weather conditions in major producing regions took a toll on the cotton industry, raising concerns about the global cotton market.

The industrial areas of DKI Jakarta are grappling with a phenomenon known as "ghost factories," a consequence of the significant exodus of businesses seeking more affordable operational environments. Industrial zones, including the Nusantara Bonded Zone (KBN) and Jakarta Industrial Estate Pulogadung (JIEP), are now dotted with deserted and abandoned factories, some bearing signs that read "For Sale/Rent" or are sealed due to local tax arrears.

In a bid to address the challenges posed by a surge in imported goods flooding the domestic market, President of Indonesia Republic Joko Widodo (Jokowi) has taken swift action, prompting the issuance of several regulations by Minister of Finance Sri Mulyani. The latest of these, Minister of Finance Regulation Number 111 of 2023, brings significant changes to the implementation schedule, now effective from October 17, 2023, as opposed to the initially planned date of 60 days after its announcement on September 18, 2023.

 

Dhaka, Bangladesh - Facing the dual challenges of a current economic downturn and the devaluation of the national currency, Bangladeshi textile millers are urgently seeking support from the central bank. The Bangladesh Textile Mills Association (BTMA) has sent a formal request to the Bangladesh Bank, urging policy interventions such as concessions on loan installments, extensions on repayment periods, and an increase in the Letter of Credit (LC) limit.

  1. Bangladesh Textile Sector Navigates Towards Circular Economy: The Need for Funding, Tech, and Policy Support
  2. China's Textile and Clothing Exports Decline by 8.1% in 2023
  3. Indonesian Batik Import Policy: Impact on Local Craftsmen
  4. Vietnam's T&A Sector Sets Target of $44 Billion in Exports for 2024