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Chemical fibre exports unlikely to reap profits
22
Feb '08
Exports made by Chinese chemical fibre industry reached 430,000 tons in 2007. However, according to the Vice-Secretary General of China Chemical Fibers Association, various negative factors may lead to a decline in the exports from 40 percent in 2007 to 30 percent in 2008.

Nonetheless, exports on an average would stay quiet stable. Experts believe that a slow rate in the development of the American economy led to a global downfall marking a growth of 3.9 percent in 2006 and a decline to 3.7 percent in 2007.

It is anticipated that the growth rate is likely to go further down to 3.4 percent in 2008. In addition to this, international trade barriers and reduction of export rebate rate will also have a negative influence on the Chinese chemical fiber industry.

In spite of the roadblocks, there are still hopes to improve the present export circumstances of China. For instance, the textile and clothing industry, which does not come under the purview of any limits, will surely expand in the international domain.

Recently on January 31, a meeting was held in Tokyo between China, Japan, the US and EU. Together, the countries decided to set up a free trade area as this would help increase exports of both chemical fiber and textile products.

Fibre2fashion News Desk - China

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