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WTO membership to boost exports to Asia by 19%

01
Mar '07
After becoming member of WTO, Ministry is anticipating export growth of 18.9 percent to Asia and Asia-Pacific.

According to sources, 23 percent will be exported to Southeast Asia, 21 to north-west and 16.4 percent to Asia-Pacific.

However, experts fear tougher competition from larger, huge capital foreign firms.

They are also concerned about anti-dumping measures and other non-tariff barriers as many counties including US have started monitoring garment and textile imports.

Sources believe that this growth in exports to Asia and Asia-Pacific will be continued through 2009 and jewellery would play vital role in this development.

Even giant retailers like Wal-Mart, will also assist in improving quality and introducing new products.

Last year, industry exported goods worth about US $20.6 billion to Asia, a surge of 18.9 percent over 2005.

The shipment to Asia accounted for 52.4 percent of total export value of more than $39 billion last year.

Industry exported goods worth $1 billion to seven countries, including Japan, Australia, mainland China, Singapore, Malaysia, Taiwan and Indonesia.


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