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China:China set to assuage feelings of the US,
EU on textile exports |
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2005-3-18
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With the announcement by EU trade Commissioner Peter Mendelson and the the US likely to put restrictions with the former mulling setting of levels of imports beyond limits prescribed, has stirred China which plans to address concerns of textile manufacturers in both the regions.
Since the textile quota expiry, fears that China would flood the world apparel and textile markets with its cheap products while overwhelming textile industries of the Unites States and European Union rendering thousands jobless in LDC countries leading to factory closures, have been emanating from all over.
Keeping this picture in mind, China is seeking talks with the EU and the US on surging textile exports, as per Chairman of the China Chamber of Commerce for the Import and Export of Textiles, Wang Shenyang.
A high level Chinese delegation will visit Washington and Brussels ensure that restrictions are not put in place to hamper domestic exports.
Reports say China’s textiles exports to the US rose 65 percent year-on-year in January, to US $1.4 billion while shipments to the EU climbed 46 percent to $1.5 billion.
Meanwhile, the American Manufacturing Trade Action Committee, which represents US textile companies, called for measures to restrict imports of trousers, shirts and other items on March 11, 2005.
EU Trade Commissioner Peter Mandelson has already said that the EU will take "appropriate action at the appropriate time" to limit any surge in shipments. |
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