Home / Knowledge / News / Textiles / Cotton industries disappointed with Arbitration Panel decision on GSM

Cotton industries disappointed with Arbitration Panel decision on GSM

03
Sep '09
Notably, the $2 billion in GSM-102 loans taken by Brazil's banks during the country's 2002-2003 financial crisis constituted a vital source of foreign exchange liquidity at a time when Brazil was virtually cut off from the international credit and trade finance markets. In fact, the liquidity afforded by the GSM-102 program was instrumental in allowing Brazil to avert a collapse of its banking system, its balance of payments, and its economy as a whole. With the onset of the global credit crisis, Brazilian banks have again turned to the GSM-102 program as a source of vital trade finance liquidity, taking more than $1.1 billion in GSM-102 loans during FY08-FY09.

We commend the efforts of the U.S. government led by the Office of the U.S. Trade Representative and the U.S. Department of Agriculture on this case. They have clearly articulated the modifications to the program that put it in compliance and are consistent with the negotiating text. We look forward to working with any interested party to ensure that the many changes previously made to USDA's export credit guarantee programs are better understood by the WTO and others.


Must ReadView All

UK international trade secretary Liz Truss (left) and Japan’s foreign minister Motegi Toshimitsu signing the UK–Japan CEPA. Pic: Gov.UK

Textiles | On 23rd Oct 2020

UK, Japan sign economic partnership agreement

The UK and Japan today officially signed the Comprehensive Economic...

Pic: Shutterstock

Textiles | On 23rd Oct 2020

Design EPRs to back circularity in textile sector: EURATEX

Extended producer responsibility (EPR), which aims at ensuring...

Pic: Shutterstock

Retail | On 23rd Oct 2020

ABG & AR Holdings to grow Forever 21 in Latin America

Authentic Brands Group (ABG) and AR Holdings, a leading retail...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

Customised t-shirts is not a fad

Nishank Patel, Shri Dinesh Mills Limited

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Pratik Bachkaniwala, Palod Himson Machines

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Milva Morani,

Milva Morani

Brighi Technologies began in 1970 with trading and repairing sewing...

Wolfgang Muller,

Wolfgang Muller

Mayer & Cie is a leading global manufacturer of circular knitting...

Tina Antoniades,

Tina Antoniades

India-headquartered Lulu & Sky is a rapidly escalating brand with the...

Hemant Bheda, Arevo

Hemant Bheda
Arevo

Arevo, based in Silicon Valley in California, develops technology to...

Sameer Sonkusale & Rachel Owyeung, Tufts University

Sameer Sonkusale & Rachel Owyeung
Tufts University

A team at the Tufts University in Massachusetts was recently in news for...

Robert Brookins, Alexium International

Robert Brookins
Alexium International

Alexium International is a specialty chemical development company...

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Robert Brunner, Devereux

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Cigdem Akin, Cigdem Akin

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search