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Textiles export sees new start in 2009 (11/20/2008)
2008-11-20 17:00:00
The Ministry of Commerce (Mofcom) has said China´s textiles exporters will face a new start when quota management on global textiles trade will be relinquished at midnight on December 31 this year, but they need to timely adjust ideas in avoiding blind expansion of production.
An official from Mofcom´s Department of Foreign Trade noted that the limit on Chinese textile exports under paragraph 242 of the Report of the Working Party on the Accession of China as well as Sino-US and Sino-EU textile memorandums will come to an end.
"The abolishing of the quotas will be undoubtedly a good start. Exporters of textiles products will no longer worry about quotas," the official said.
By then, the official said, members of the World Trade Organization can no longer quote paragraph 242 to impose limit on Chinese textiles export while Mofcom will no longer exercise amount and quota management on Chinese textiles export to the United States, or conduct quota management on Chinese textiles export to the European Union.
Mofcom will take measures to safeguard the smooth transition and stable growth of Chinese textiles and clothing exports in 2009, and further strengthen dialogues with relevant countries, so as to provide a sound environment for China´s textiles export.
Currently, as the world financial market is undergoing turbulent changes, China´s textiles export meets some new problems.
Statistics from the Chinese Customs indicated that during the first nine months of this year, Chinas´ textiles and clothing exports hit $136.94 billion, a rise of 8.1% over the same period of 2007. But the growth rate is 11.9 percentage points lower than that of the corresponding period last year.
Source: MINISTRY OF COMMERCE,PRC
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