The Government of Mexico and representatives of Mexican textile and apparel associations have expressed confidence that they would be able to resolve the ongoing trade dispute with China in three months time, in view of the agreements reached between the two countries during the visit of Chinese President Xi Jinping to Mexico.
The Government of Mexico and representatives of Mexican textile and apparel associations have expressed confidence that they would be able to resolve #
Addressing a press conference, Francisco de Rosenzweig, Mexican Foreign Trade Undersecretary highlighted China’s commitment to resolve the textile trade dispute with China.
The Government of Mexico and representatives of Mexican textile and apparel associations have expressed confidence that they would be able to resolve #
"We are taking a three-month horizon to achieve a solution to this problem," said De Rosenzweig, who addressed the media, along with representatives of the textile and garment sector.
The Government of Mexico and representatives of Mexican textile and apparel associations have expressed confidence that they would be able to resolve #
He informed that the next bilateral meeting between China and Mexico will take place later this month in China.
The Government of Mexico and representatives of Mexican textile and apparel associations have expressed confidence that they would be able to resolve #
In October 2012, Mexico filed a compliant with the World Trade Organization (WTO) asking it to start discussions with China. Mexico blamed the Chinese Government of subsidizing the textile and garment manufacturing sector, resulting in unfair competition for the Mexican textile and clothing industry.
The Government of Mexico and representatives of Mexican textile and apparel associations have expressed confidence that they would be able to resolve #
During his visit, President Xi and his Mexican counterpart Enrique Peña Nieto agreed to create a “comprehensive strategic partnership” to strengthen the political and commercial ties between the two nations. The leaders also laid emphasis on encouraging Chinese investment in Mexico.
The Government of Mexico and representatives of Mexican textile and apparel associations have expressed confidence that they would be able to resolve #
The Undersecretary said they received China’s commitment to resolve the textile trade dispute without any “concession or some other service”.
The Government of Mexico and representatives of Mexican textile and apparel associations have expressed confidence that they would be able to resolve #
However, Moses R. Kalach Bales, president of the Mexican National Chamber of Textile Industry, said they will not compromise their legal rights and would continue with their complaint to the WTO.
The Government of Mexico and representatives of Mexican textile and apparel associations have expressed confidence that they would be able to resolve #
He said the problem has not been solved by the state visit of the Chinese President. He pegged the annual losses for the Mexican textile industry at US$ 15-20 billion due to undervaluing of Chinese products.
The Government of Mexico and representatives of Mexican textile and apparel associations have expressed confidence that they would be able to resolve #
He added that Mexican textile exports to China would increase from the current US$ 150 million to about US$ 500 million in the coming years, if the trade dispute is resolved.
The Government of Mexico and representatives of Mexican textile and apparel associations have expressed confidence that they would be able to resolve #
Fibre2fashion News Desk - India