Home / Knowledge / News / Textiles / Australian wool growers peg high hopes on Sanya conference
Australian wool growers peg high hopes on Sanya conference
Sep '12
Australian wool producers have high hopes from the wool conference that kicked off last week with participants from all across the globe discussing wool trade in Sanya, located in Hainan province of China.
Australian wool growers are of the opinion that the 24th International Wool Trade Fair and Information Conference, aimed at discussing the global wool trade, would benefit them as wool delegates, including producers, weavers, spinners, brokers and agents and representatives of international wool boards, are participating in the event.
The wool trade fair furthers a common platform to Chinese and global wool exporters for networking and even more importantly for trade purposes.
According to Australian wool producers much business is done during the conference as it facilitates direct interaction between buyers and sellers, and hence they eye an opportunity to benefit from the same, as more business would follow.
Following reduced activity from Chinese wool market over the past two months, Australian industry circles have developed a view that Chinese buyers have been reserving some orders to be placed at the conference. In spite of knowing that this could also have an adverse impact, Australian industry experts are taking it positively.
In the course of the conference, Australia and China would also sign a review of terms and conditions of mutual trade, which is seen to benefit Australia in a big way.
For quite some time, Australia had been actively trying to get some changes incorporated in the terms and conditions related to dispute resolution and arbitration. 
Traditionally, China has been working outside some rules and regulations of the International Wool Textile Organization (IWTO) pertaining to dispute resolution. However, Australia has finally negotiated some changes, which would see China now adhering to the IWTO’s dispute resolution procedures.
As of now, if a buyer and a seller fail to strike a consensus, they need to use a legalistic and costly dispute resolution process managed by a Chinese organization – the China International Economic and Trade Arbitration Commission.

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 28th May 2017

Over 45% US retailers to use AI in next 3 years: Report

Over 45 per cent retailers in the US plan to utilise artificial...

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Apparel/Garments | On 28th May 2017

Naked Brand, Bendon sign agreement to reorganise

Naked Brand Group, a fashion and lifestyle brand, and Bendon Limited, ...

Interviews View All

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Rahuul Jashnani

‘Online economy has changed the whole dynamics of buying habits.’

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Kerem Durdag
Biovation II LLC

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

Sonam & Paras Modi

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

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Rupa Sood and Sharan Apparao

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


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
May 2017

May 2017

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


Browse Our Archives


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search