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Turkey:Turkey to impose textile quotas
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2004-12-27
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The Foreign Trade department of Turkey has decided to impose textile quotas on cheap Chinese textile and apparel imports in order to protect large domestic industry.
In its decision the department informed that booming imports from China threatened fair trade, squeezing out local manufacturers and driving down prices.
Chinese textile exports after a decades-old quota system limits ends on January 1, 2005 and the World Trade Organisation believes that within three years the Asian giant could be producing over half of the world''s textiles, up from 17 percent in 2003.
The end of the quota regime has spawned fears of widespread job losses around the world, including in Turkey, whose own textiles and apparel exports stand at around $20 billion a year.
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