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WTO Chairman: increasing global textile trade protection

WTO Chairman: increasing global textile trade protection 

 Time: June 23, 2011 10:50:17 in the financial network

     Recently the leaders of three international organizations to the Group of 20 (G20) countries, the leaders warned that their government has developed over the past six months on the trade impact of the restrictive measures.
In mid October 2010 to mid-April 2011, the Group implemented a total of 20 122 new trade protection measures, textiles, clothing and cotton items are the target of trade restrictions, such measures include raising import tariffs, anti-dumping investigations licensing and export restrictions.
World Trade Organization (WTO) Mr Pascal Lamy, the World Organization for Economic Cooperation Development (OECD) Secretary-General AngelGurria, and UNCTAD (UN) Secretary-General Supachai Panitchpakdi in a May 24 report that "they resist trade protectionism The pressure appears to be increasing. "
Lamy said the collective control of the trade measures are being set off panic, with the recent outbreak of the global financial crisis, trade protectionist measures may be gaining momentum.
These measures include the ban on imports of Argentine re-used clothes, and add a number of industrial imports to be bid for "non-automatic import permit" provisions, involving products include textiles and clothing.
February 24, 2011 Russia (as well as Belarus and Kazakhstan, part of the common free trade zone) increase tariffs on imports of woven cloth from the 5% adjustment to rise to 10%.
Similarly, the Indian government since 1 April 2011 onwards to lift restrictions on exports of cotton yarn, replaced by the new notification requirements from March 31, exports of cotton yarn must be delivered to India before the Ministry of Commerce General Administration of Registration of Foreign Trade.
Turkey is a major exporter of textiles and clothing, in January 2011 on imports of certain woven fabrics and apparel products that safeguard measures, and since this year began on July 21, interim safeguards tariffs.
WTO estimates that the Group of 20 to take new measures to restrict imports involving 565 million U.S. dollars, accounting for 20 of the Group of 0.6% of total imports.
2008 financial crisis the world economy was hit, the real economy through a slow recovery after years of 2009-2010, is still hovering around the bottom, in order to promote their national entities, economic development, trade protectionism in terms of another. China's textile and garment industry as an export-oriented manufacturing industry, under the influence of these terms has been a certain extent. As an investor, should be less concerned about the impact on protected terms, costs and bargaining power to pass a strong brand apparel and home textile companies as investment targets.

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