ASEAN & EFTA adopt 2026-2030 economic work plan

ASEAN and EFTA adopted a 2026–2030 work plan in Manila under their Joint Declaration on Economic Cooperation.The framework covers free trade agreement implementation, MSMEs, e-commerce, intellectual property, innovation and sustainable trade.It also foresees exploring business missions and business-to-business dialogue, relevant for firms tracking cross-regional sourcing and market access.

Thailand’s economy strengthened in July 2026, with goods exports rising 22.3 per cent year on year and investment approvals increasing 37 per cent in H1 2026.However, rising inflation, softer imports and labour-market pressures kept the recovery uneven, creating mixed conditions for manufacturers and supply-chain businesses across the region.

CBIC has eased customs documentation for importers claiming preferential duties on UK-origin goods under the India-UK CETA.A valid Origin Declaration will generally suffice, with Form-I required only when customs identify specific origin risks.The move reduces paperwork and compliance burdens, potentially speeding up clearance for eligible shipments.

EU road freight carried 13.29 billion tonnes of goods in 2025, up 1.8 per cent from 2024.
Food, beverages and tobacco led transport performance at 311.1 billion tonne-kilometres, relevant for retail and consumer-goods flows.
Textiles, textile products, leather and leather products accounted for 50.83 million tonnes of goods transported by road.

Bangladesh’s RMG exports to the UK rose 3.74 per cent year on year to $915.63 million in July-August FY2026-27, supported by a 10.53 per cent increase in August that offset a 2.44 per cent decline in July.The two-month earnings were 20.86 per cent of full-year FY2025-26 UK RMG export earnings of $4.39 billion, indicating a stronger start to the new fiscal year.

Austria’s apparel imports rose nearly 2 per cent to $3.785 billion in January–June 2026, with Asia-Pacific shipments up 104 per cent to $788.673 million.
Europe remained the top source at $2.817 billion, but its share fell to 74.43 per cent from 86.56 per cent as imports declined by about 12 per cent.
Trousers and shorts led categories at $1.009 billion, or 26.68 per cent of total imports.

Turkiye’s retail trade confidence rose 1.1 per cent to 111.3 in September 2026, with sales expectations for the next three months increasing 3.5 per cent to 128.0.Construction confidence edged down 0.2 per cent to 83.0, while services confidence remained unchanged at 111.9, according to Turkstat.The data offers a snapshot of business sentiment across key sectors.

Turkiye’s fabric imports fell 8.3 per cent year on year to $978.502 million in January–July 2026, from $1.067 billion a year earlier.
China remained the largest supplier, with shipments up 7.7 per cent to $311.971 million and share rising to 31.88 per cent.
Imports from Egypt fell 47.9 per cent to $119.290 million, moving it from second to third among suppliers.

Can Tho Port JSC, Vietnam National Shipping Lines and Beibu Gulf Port Group welcomed the first vessel on a direct Nanning-Can Tho container service on September 24.
The route gives Mekong Delta and southwestern China shippers another river-sea freight corridor.
The service is planned twice monthly, with transit of about seven days and capacity of 500 TEUs.

European Union sea imports reached 1.1 billion tonnes worth €1,270 billion (~$1.44 trillion) in 2025, while seaborne exports totalled 0.5 billion tonnes worth €1,069 billion (~$1.21 trillion).
Maritime transport carried over 72 per cent of the bloc's goods trade by weight.
Air and road took smaller volume shares but higher-value cargo, shaping modal choices for sourcing and logistics teams.

Bangladesh Bank has given raw jute exporters until September 30, 2026 to seek restructuring of classified loans with a 2 per cent down payment.
Banks have until December 31, 2026 to settle applications under unchanged BRPD circular terms.
The move gives distressed jute shippers more time to regularise accounts amid sector-specific financial pressures.

Fitch Ratings has upgraded Sri Lanka’s Long-Term Issuer Default Ratings to B- from CCC+, with a stable outlook.
The agency cites macro-stabilisation reforms, stronger fiscal and external balances and modest foreign-exchange reserve rebuilding.
Exporters, importers and sourcing teams face improved sovereign risk signals, but high debt, thin buffers and rising external repayments remain concerns.

France’s wholesale and retail trade sales volume was virtually stable in July 2026, slipping 0.1 per cent after a 0.3 per cent rise in June.
Retail trade rose 0.8 per cent, supported by specialised and non-specialised stores, including clothing shops.
Wholesale trade declined, signalling uneven demand for suppliers, distributors and retail sourcing teams.

New Zealand’s apparel imports rose 5.8 per cent to NZ$180.01 million in August 2026.
January–August imports slipped 0.7 per cent to NZ$1.377 billion as the decline narrowed from 1.6 per cent.
Knitted or crocheted fabric imports fell 12.4 per cent in August but rose 12.5 per cent in January–August.
Apparel exports fell 5.8 per cent in August, though January–August exports edged up 0.1 per cent.

Germany’s economy is likely to lose momentum temporarily in the third quarter of 2026, with low Rhine water levels, weaker exports and subdued consumption weighing on activity, the Bundesbank said.Industrial output fell sharply in July, while higher energy prices pushed inflation to 2.9 per cent in August.The recovery is expected to regain pace in fourth quarter.

BASF is studying a potential MDI production complex in Dahej, Gujarat, after securing industrial land through BASF India Polyurethanes.
MDI is used in polyurethane products for furniture, consumer goods, insulation, refrigeration and automotive components.
Final decision depends on the study and approvals; BASF says the project could add local supply for India and neighbouring markets.

Egypt is developing eight international logistics corridors linking Red Sea and Mediterranean ports with the Suez Canal, dry ports and industrial, agricultural and mining zones.The projects aim to strengthen trade links with global markets, reduce cargo handling times and logistics costs, and support Egypt’s goal of becoming a major regional logistics hub.

Arkema has secured 3,000 m³ of Glacial Acrylic Acid storage at Ulsan's HDOT terminal, creating a Korean hub for its GAA business.
The capacity aims to improve reliability of acrylic monomer supplies for Korean customers and acrylic-based applications.
It connects production, supply and logistics across Northeast Asia, while ISCC+ certification supports lower-carbon and circular material sourcing.

Fashion and apparel M&A entered 2026 with Skechers’ $63-a-share take-private deal and Prada’s $1.375-billion Versace acquisition showing scale still attracts capital.
PwC says megadeals above $5 billion made up 47 per cent of consumer-markets M&A value through May 2026.
Mid-tier brands face valuation pressure, pointing to more take-privates, distressed sales and brand-IP transactions.

ASEAN and the UK have reaffirmed their economic partnership, with new commitments on trade, investment, supply-chain integration and resilience.Bilateral trade in goods and services reached £62 billion (~$82.7 billion) in 2025, up 17.4 per cent, while UK FDI in ASEAN stood at $9.1 billion.The sides also backed co-operation on digital trade, financial services and green transition.

Bain-Altagamma says personal luxury goods fell 2 per cent to €358 billion ($410 billion) in 2025, before a 2026 rebound.
LVMH's H1 2026 revenue reached €38.6 billion ($44.28 billion), with Q2 organic growth at 3 per cent.
Europe tourist spending fell around 20 per cent in February 2026, Middle East mall traffic weakened, and L'Oréal briefly overtook LVMH.

BoE held the Bank Rate at 3.75 per cent in September, with a 6–3 MPC vote, as higher energy prices lifted UK inflation risks.
CPI rose to 3.1 per cent in August and may rise further, keeping cost, wage and demand pressures in focus for UK apparel retail and sourcing.
The MPC said it was ready to act to return inflation to 2 per cent, while annual £20 billion gilt sales will run to 2034.

Vietnam’s outbound investment rose 4.7-fold in the first eight months of 2026, while registered FDI reached $40.63 billion, up 55.4 per cent year on year.Trade turnover rose 28.7 per cent to $770.14 billion, and manufacturing PMI hit 53.3 in August, signalling continued expansion in production, trade and investment activity.
Business formation also strengthened during the period.

Vietnam is projected to record the fastest economic growth among Southeast Asia’s six largest economies, with average annual GDP growth of 6.2 per cent through 2035, according to a report by Bain & Company, DBS Bank and Vriens & Partners.The outlook is supported by manufacturing exports, foreign investment and Vietnam’s role in regional supply chains.

AI agents are entering apparel product development, costing and sourcing through launches from PTC, Aptean and Centric.
Research warns up to 90 per cent of AI initiatives fail to scale beyond pilots, blocked by governance, data quality and fragmented tools.
Despite 92 per cent planning more AI investment, only 1 per cent report mature deployment; brands must fix product data.

US final-demand producer prices rose 5.4 per cent in the 12 months ended August 2026, with goods up 7.7 per cent and services up 4.5 per cent.Energy led goods inflation at 24.4 per cent, while foods were nearly unchanged at 0.1 per cent.Transportation and warehousing services rose 13.0 per cent, signalling cost pressure for sourcing and logistics teams.

South Korea’s apparel imports rose 2.82 per cent to $7.901 billion in January-August 2026, with August shipments up 10.98 per cent to $1,283.819 million.
Knitted apparel imports grew 4.64 per cent and non-knitted apparel imports rose 1.47 per cent in the first eight months.
Exports of man-made filaments fell 4.32 per cent, while knitted or crocheted fabrics gained 8.56 per cent.

Industrial production fell 0.1 per cent month on month in the euro area and 0.3 per cent in the EU in July 2026, according to the Eurostat.
Non-durable consumer goods output declined 1.6 per cent in the euro area and 1.3 per cent in the EU as other main groupings mostly rose.
Annual output was stable in the euro area and up 0.3 per cent in the EU, giving sourcing teams a mixed signal.

European hourly labour costs rose 3.1 per cent year on year in the euro area and 3.2 per cent in the EU in Q2 2026, according to the Eurostat.
Construction recorded the strongest increase among business activities at 3.9 per cent in both regions.Bulgaria, Lithuania and Croatia posted the highest wage-cost growth, while Luxembourg and Romania recorded the lowest.

Bangladesh’s gas supply rose to 2,610 mmcfd on Tuesday, supported by 990 mmcfd of imported regasified LNG and 1,620 mmcfd from domestic gas fields.The improved supply is expected to ease pressure on industries, power plants and other gas-dependent consumers that have faced supply constraints, while helping meet the country’s overall demand.