Ministry of Commerce to implement licensing system to restrain export growth
20 Jun '05
1 min read
Commerce Ministry of China informed that it would implement a temporary textile licensing system to restrain export growth.
As per a statement of the Ministry, Chinese textile producers have to apply for a license that will show their exports limits based on their exports for the last year. The new regulation will be effective from July 20, 2005.
The EU and The US has imposed quotas on the textile import from China, as they had claimed that the cheap textile products of China has surge their domestic markets and has created major disruption.
The trade rock-hard tension between EU and China melted after hours of meeting, and has come out with an agreement, in which China will self-restrain its exports to EU market.
The Ministry informed that the license will validate for six months and can be renewed for another three months.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
