Chinese garment quotas breathing life into vulnerable Asian textile sectors
AFP Business News via Yahoo! Australia & NZ Finance
HNOM PENH (AFP) – Asia’s most vulnerable garment sectors have survived — even flourished — and proved the nay-sayers wrong during their first year without the protection of the global quota system.
But industry officials say they have only done so with the help of additional safeguards imposed by the United States and European Union against textile giant China
The end in December 2004 of the decades-old international quota system known as the Multi-Fibre Arrangement (MFA), which gave developing countries guaranteed access to developed countries’ markets, was expected to doom the garment sector in countries like Cambodia, Bangladesh and Vietnam Read more about Chinese garment quotas breathing life into vulnerable Asian textile sectors …