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China : Textile & apparel trade up in the quota year |
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2006-2-9
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Australian Wool Innovation Limited informed that 2005 may have heralded a new era of quota-free trading for all textiles and clothing with the elimination of long position of quotas but, after a surge in exports from China, a new range of protectionist measures introduced during 2005 seek to once again restrict trade from China.
During 2005, both the US and the European Union signed comprehensive voluntary trade agreements with China for three years, between 2006 and 2008.
These agreements seek to restrict growth of certain product categories. While the product categories restricted by each country vary, both agreements include some wool products.
The agreement between the EU and China may be positive for wool in those items that may be restricted by the new quotas - knitwear, men's trousers and women's dresses - because the EU does not split these product categories by fibre type.
Chinese exporters and European importers are likely to prefer to fill their quotas with higher value/higher margin clothing products, such as wool products.
While the US-China agreement is fibre specific, wool product categories, apart from wool socks, appear likely to be relatively unrestricted. |
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| Australian Wool Innovation Limited | |
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