Home / Knowledge / News / Textiles / “Diversify export markets”, advise experts
“Diversify export markets”, advise experts
05
Nov '08
Recently, the Ministry of Commerce announced that there will be no longer quantity restrictions and permits for textile exports to the United States and license management of shipments to the EU, starting from January 1, 2009. This means that Chinese textile exports will no longer be subject to quota restrictions from the beginning of next year.

But industry experts say, the recent outbreak of global financial crisis has weakened the payment capacity of companies in the US and it will be difficult for the textile industry to change the trend of decline in exports even with the abolition of quota restrictions.

Earlier in the year, from a short term perspective, the Ministry of Commerce had announced twice, the increase in export textile rebates the most recent being in November and now has announced abolition of quotas to the main markets of the US and EU. The announcements of these measures have a clear significance towards promoting and increasing growth in exports.

However, in general, these policies can play only a limited role. The slowdown in China's textile exports and economic growth is here to stay and it will be difficult to reverse the trend, irrespective of sops like increase in export tax rebates or lifting of quota restrictions.

It is well known fact that the subprime crisis in the United States has spread from the financial sector into the overall economy due to which textile consumption has started to decline, which will a bearing on China's textile exports to the United States in the next few months.

According to statistics, in the first half of 2008, U.S. apparel imports from all countries amounted to US $32.997 billion, down $1.389 billion or 4.04 percent. China's share of the fall totaled to $583 million or 41.097 percent of over fall in import value. Imports of textile and clothing from China by the US add up to nearly 30 percent of all imports from the sector.

In fact, although the United States purports to call itself a complete market economy by implementing free trade liberalization measures, the so-called trade liberalization may not be totally free. In recent years, China's exports to the United States have still been subject to a number of non-tariff trade barriers such as anti-dumping measures etc.

As a remedial measure to all ills affecting the Chinese textile and garment industry, experts advise exporting enterprises to diversify their markets and not be dependent on the US markets, the recovery of which is going to take a long time.

Fibre2fashion News Desk - China


Must ReadView All

GMAC urges Cambodia to push fabric-forward rule in RCEP

Apparel/Garments | On 17th Oct 2017

GMAC urges Cambodia to push fabric-forward rule in RCEP

Representatives from the Garment Manufacturers Association of...

Alibaba to invest $15 billion in DAMO Academy for research

Textiles | On 17th Oct 2017

Alibaba to invest $15 billion in DAMO Academy for research

Alibaba will invest $15 billion over the next several years in its...

Pressure on  Indian textiles exporters to ease by Q3: ICRA

Textiles | On 17th Oct 2017

Pressure on Indian textiles exporters to ease by Q3: ICRA

Pressures on the profit and debt levels of textiles exporters is...

Interviews View All

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Kerem Durdag
Biovation II LLC

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

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

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

October 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
76.9%
No
13.8%
Skip
9.2%

Total Votes: 65

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.5%
No
27.7%
Skip
10.8%

Total Votes: 65

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
84.6%
No
10.8%
Skip
4.6%

Total Votes: 65

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
73.8%
No
12.3%
Skip
13.8%

Total Votes: 65


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