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Switzerland : India & China to increase textile share - WTO study |
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2004-8-17
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India is set to increase significantly its share in the international textile market next year after import restrictions are eliminated in the US and other rich nations, according to a recently released WTO study.
The study revealed that many developing countries will suffer significant losses amid new stiff competition from China, which could rule the market after textile import quotas are abolished, and India.
But, the study reported, a number of nations like Mexico and Turkey should be able to maintain their positions as major clothing exporters because they are geographically close to the big markets of the US and the European Union.
Using calculations based mainly on cost and efficiency, the WTO staff report forecast that China''s and India''s exports will increase dramatically after 2005.
In the US clothing market, China''s share could surge up to 50 percent from 16 percent in 2002, and India''s share could surge to 15 percent from 4 percent.
The textile quota system, more than three decades old, is set to expire on January 1 2005 under a WTO agreement struck in 1995.
The current system has allowed rich nations, chiefly the US, Canada and the European Union, to set quotas or ceilings on the amount of textiles and apparel that they import from individual countries.
Once the quotas are eliminated, the lowest-cost and most efficient producers will be free to export as much as they want, and many experts have predicted that China will emerge as the biggest winner by far.
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