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Expanding dominance of China fails to quiver textile sector
29
May '08
Trade quotas on textiles and apparel were lifted in January 2005, following which China emerged to be the largest exporter filling nearly every accessible potential markets with its goods.

However, this was not a threat for Turkey because while China concentrated on increasing its exports, the former focused on improving quality and promoting the number of brands.

Turkey, in fact, credits China's gaining prominence in the global market for its improvement in the qualities of textile which has helped the country in producing high value goods.

Textile products of Turkey have become so competent that they can virtually stand at par with those produced by Italy and if the number of brands keeps increasing at this rapid pace, the country will very soon become a powerful world player.

Recent statistics of textile exports showed an increase of 18 percent reflecting a steady trend in the industry. Hey textile, one of the well known textile companies in Turkey is aiming for US $500 million in turnover in 2008 and for $1 billion by 2009.

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Courtesy: H&M

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