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

Respresentatives of over 30 Chinese companies in a meeting with officials of Kazakh Invest National Company; Courtesy: primeminister.kz

Textiles | On 17th Aug 2018

Kazakh-China cooperation in textiles explored in Astana

China and Kazakhstan have immense potential to cooperate in textiles...

Courtesy: Pexels

Textiles | On 17th Aug 2018

AWEX EMI closes at highest ever level of 2116ac clean/kg

The Australian Wool Exchange (AWEX) Eastern Market Indicator (EMI)...

Courtesy: VF Corporation

Apparel/Garments | On 17th Aug 2018

VF Corporation shifting global headquarters to Denver

VF Corporation, one of the largest apparel, footwear and accessories...

Interviews View All

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Siddhachakra Weaving (Badiya Fashion)

Ahmedabad-based Siddhachakra Weaving Pvt Ltd was established in 2011 under ...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Ravi Raj Desai

Himalaya Cotton Yarn Ltd manufactures high quality denier. The spinning...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Prof Seokheun (Sean) Choi
Binghamton University, State University of New York (SUNY)

A team of researchers from the State University of New York (SUNY),...

Davide Vigano
Sensoria

Sensoria is a leading developer of smart garments and IoMe (Internet of...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Rajesh Pratap Singh
Rajesh Pratap Singh

<div>Ace fashion designer <b>Rajesh Pratap Singh</b> has used Tencel to...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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


August 2018

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

news category


Related Categories:

Advanced Search