Home / Knowledge / News / Textiles / South Africa turns down FTA with Turkey to protect textiles, apparel
South Africa turns down FTA with Turkey to protect textiles, apparel
14
Nov '11
South Africa has declined to accept Turkey's proposal for inking a free trade agreement (FTA) in order to protect its domestic textile and apparel industry.

The Cabinet's decision to turn down Turkey's proposal was based on the feeble state of the domestic textile and apparel industry, the South African Trade and Industry Minister Rob Davies said.

The Minister said that competition from Asian countries, mainly from China, has resulted in a loss of thousands of jobs in the country's textile and garment industry during the past 10 years.

Next to China, Turkey is a leading manufacturer and producer of textiles and garments and hence the Cabinet has rejected its proposal with an aim to safeguard the domestic industry, Mr. Davies stated.

He informed that the Government carried out a study which revealed that accepting the proposal would not be a wise move.

The Minister added that he would pay a visit to Turkey during first quarter of 2012 to discuss the prospects of working out a trade agreement that is mutually acceptable to both the countries.

South Africa is an active proponent of bolstering "South-South" trade ties, which includes negotiating preferential trade deals.

The South African Cabinet said that the free trade agreement with Turkey does not support a mutually beneficial approach to developing economic ties; rather it encourages destructive competition which would weaken South Africa's domestic industrial and employment goals.

As per the Tunis-based African Development Bank's statistics, Turkey is the fifth leading emerging market investor in Africa.

Turkish Prime Minister Recep Tayyip Erdogan had paid a visit to South Africa last month to deliberate on mutual trade relations. During the visit, he had reiterated that Turkey's mission was to strengthen its trade ties with the African continent.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 28th Mar 2017

India may impose duty on elastomeric filament yarn

The Government of India is likely to impose anti-dumping duty on...

Courtesy: Kraig Laboratories

Textiles | On 28th Mar 2017

Kraig gets certificate for silk production in Vietnam

Kraig Biocraft Laboratories, Inc., a leading biotechnology company...

Information Technology | On 28th Mar 2017

Intex Consulting signs partnership with Kawan Era Baru

Germany based Intex Consulting GmbH has entered into a strategic...

Interviews View All

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search