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Fragmentation of quota allocation leads to wastage – Textile body chief

10
Aug '09
As of mid-April this year, clearance rate of most categories of China's textile export quotas to Europe and the United States was only over 10 percent, or even less. Vice-Chairman of Chamber of Commerce for Textiles, Jiang Zhe admits that low quota utilization rate is more so due to the slowdown in US and European markets.

According to preliminary estimates, wasted quota rate is 20 percent this year. Jiang Zhe said, "As quota allocation is too fragmented, small quantity of quotas allocated to enterprises are usually wasted and now the chamber of commerce has proposed that the limitation of allocated quotas should at least reach 1000 pieces”.

But at the moment the Ministry of Commerce has not yet reached a consensus. In his own opinion, quota policy should be aimed at exporters that actually realize exports to US and European markets. However, this year's quotas are basically set, and quota threshold is more likely to increase in the coming years.

Fibre2fashion News Desk - China


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