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GOTI tries to fulfill textile requirements of domestic market
16
Nov '10
The General Organization for Textile Industry (GOTI), which is the only manufacturer of textile in Syria, has always tried to fulfill the requirements of the domestic markets, despite the high cotton yarn prices in the global market.

Earlier textiles were sold to the traders at stable prices by GOTI but the traders sought to fix the textile prices on the basis of the global rates, after they saw a substantial fall in the prices. The Government of Syria had agreed to the demands of the traders. GOTI had begun to sell textile as per the global rates other than the steps taken by it to eliminate the hindrances obstructing the smooth functioning of the organization.

The global economic conditions affect the global cotton as well as textile prices. The prices also have a bearing upon the manufacturing cost. GOTI has adopted several directives for selling cotton yarn in the domestic market in order to safeguard the interests of the traders. The organization and its associate companies had made an announcement that they can supply 3,520 tons of textiles of various kinds every month to the domestic market. The companies under GOTI, currently, have produced over 7 tons of cotton yarn.

Despite the rise in prices of textiles at the global level, the organization took the decision of not selling its produce to other nations. It, however, continued to supply to the traders to meet their textile requirements. It had stopped the export of textiles for 15 days to target the domestic market even though it could lose some of its international customers while doing so.

Fibre2fashion News Desk-India

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