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Indonesia:Lamy calls for nations to move forward as textile quotas go |
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2004-9-7
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Not withstanding opposition within the industry, the European Union Commissioner for Trade Pascal Lamy said Monday that nations must move forward with plans to abolish trade quotas on clothes and textiles at the end of this year.
China is expected to dominate the global textile trade once the quotas are lifted on Jan. 1, 2005, fear the textile industry leaders resulting in crumbling businesses in the U.S. and European Union, and economies in developing countries such as Cambodia and Bangladesh, that virtually depend on textile manufacturing.
"The disappearance of quotas creates a lot of anxieties," Pascal Lamy told members of the business and diplomatic community in Indonesia at a special luncheon following trade talks over the weekend with the Association of Southeast Asian Nations (ASEAN).
Lamy said that while several in the E.U. industry would gain from an end to the decade-old system of textile quotas, "for many developing countries, it''s a different story."
"They will suffer from the disappearance of quotas given their difficulty to adjust," the trade commissioner said.
"But this deadline will be kept," he said. "It''s an international agreement done 10 years ago. An international credit, and credits have to be paid."
The trade commissioner said that China could "use its power in a wise and rational way" to ensure that "the shock is not too damaging to developing countries." |
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