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Official advises countries not to setup artificial trade barriers
02
Feb '09
Recently, an official from the Foreign Trade Division of the Ministry of Commerce pointed out that, global textile trade should follow the principles of free trade in 2009 and that importing countries should not set up artificial trade barriers.

According to the high ranking official, the current international turmoil runs very deep due to which world's economic growth is slowing down leading to creation of instable factors in international economic environment.

Individual countries are implementing or renewing restrictive agreement on imports of Chinese textiles and garments on the pretext that they foresee a surge in shipments of Chinese goods post 2008.

He pointed out, the declaration issued at G-20 finance summit 2008 explicitly put forward that in "period of financial instability, governments should guard against protectionism and guard against new barriers in investment, goods trade and services”.

He added by saying that "We believe that the textile trade post 2008 should follow the principles of free trade as mentioned in G-20 declaration and importing countries should not create artificial trade barriers."

The official said, after the opening of global markets and ending of the quota regime since January 2005, export potential of related products has been fully realized. The countries can be rest assured that they would witness a surge in exports from China.

He added by saying that nor would shipments from China pose a threat to exports from other countries either and that the development of international textile trade has been stable in recent years, which has fully proved this perspective.

Fibre2fashion News Desk - China

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