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Expiry of textile agreements may trouble exporters
17 Jan '07
1 min read
National Industrial Association of China has opined that since trade agreements for textile products will end soon, a situation of uncertainty could arise for exporters this year.
EU and the US are planning to impose anti-dumping or anti-subsidy investigations along with tariffs on Chinese textile exports by end of 2007 when agreements will be over. This could reduce the country's market share in US and EU drastically.
Local manufacturers could also face trouble due to European Commission's rules which prohibit utilization of some chemicals for production. Textile trade is currently below the two digit figure.
As per General Administration of Customs statistics, total trade of Chinese textiles and garments was worth $147 billion in first 11 months of 2006, which was 22.2 percent higher than 2005.
EU and the US are planning to impose anti-dumping or anti-subsidy investigations along with tariffs on Chinese textile exports by end of 2007 when agreements will be over. This could reduce the country's market share in US and EU drastically.
Local manufacturers could also face trouble due to European Commission's rules which prohibit utilization of some chemicals for production. Textile trade is currently below the two digit figure.
As per General Administration of Customs statistics, total trade of Chinese textiles and garments was worth $147 billion in first 11 months of 2006, which was 22.2 percent higher than 2005.
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