Released on = April 19, 2007, 9:20 pm

Press Release Author = Namrata

Industry = Small Business

Press Release Summary = The China National Textile Industry Council (CNTIC) admits
that the freer trading environment in 2002 played its part in the surge

Press Release Body = Textiles and Apparel in China: Preparing for Quota-Free Markets
in 2005 and Beyond

Chinese textile and apparel output and exports rose dramatically in 2002. In value
terms, garment exports increased by almost 13% and textile exports by 23%. Volume
growth was even higher. The US and European industries view the surge as a foretaste
of what will happen when all quotas restricting trade between WTO members are
eliminated on January 1, 2005. Significantly, 2002 was the first full year of
Chinese membership of the World Trade Organisation (WTO), and in January 2002 quotas
were removed from a wide range of Chinese export items. The China National Textile
Industry Council (CNTIC) admits that the freer trading environment in 2002 played
its part in the surge. But it also points to a more buoyant home market, capital
investment in new equipment, and foreign direct investment

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