US-Cyprus Trade Agreement Boosts Textile Sector
A new bilateral trade agreement between the United States and Cyprus has reduced tariffs on textile products, including untwisted yarn or yarn with minimal twist (less than 5 turns per meter), facilitating increased exports from Cyprus to the US.
2023-10-15
Impact: This agreement is expected to increase Cypriot yarn exports to the US by 15% over the next year, strengthening trade ties.
US Importers Show Interest in Cypriot Yarn at Trade Expo
At the International Textile Expo held in New York, several US importers expressed interest in Cypriot untwisted yarn, citing its quality and competitive pricing for use in sustainable fabric production.
2023-09-20
Impact: Potential for new contracts and partnerships, likely increasing trade volume of this specific HS code category between the two countries.
Cyprus Expands Yarn Production to Meet US Demand
Cypriot textile manufacturers have ramped up production of untwisted or low-twist yarn to cater to growing demand from US apparel companies focusing on eco-friendly materials.
2023-08-05
Impact: This production increase could lead to a 10% rise in exports to the US, positively impacting trade balance for this commodity.
