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Textile firms eye a deal
(Xinhua)
Updated: 2005-10-17 09:22
Both Chinese textile firms struggling to survive and US retailers require a
trade dispute settlement between the two nations as soon as possible.
Business people
talk at the 98th Chinese Export Commodities Fair that opened on Saturday
in Guangzhou. [Shanghai Daily] |
"Our time is running out, but I can only get some marginal products. Can we
expect American consumers to take towels instead of pants next year?" American
businessman Johnason Lee said. He was attending the 98th Chinese Export
Commodities Fair that opened on Saturday in Guangzhou, Guangdong Province.
Deals struck at the biannual event normally make up one-third of China's
general trade every year. Worldwide buyers often place orders for the coming
year and sometimes short-term orders for the coming
months.
At this year's fall event, however, uncertainty looms on both sides of the
negotiation table.
"Nothing is certain, which means nothing can be done," said Tao Huaiping,
general manager of Knitwear Imports and Exports Co under the Huihong Group, a
leading textile and apparel exporter.
"Unless China and the United States reach an agreement, we won't take any
orders — it's far too risky," Tao said.
For Tao and many others in the business, the United States and Europe are
still their major markets. China's textile exports to these destinations totaled
US$25.1 billion in the first eight months of this year.
That equals 34 percent of the country's total exports, according to China
Textile Import and Export Chamber.
According to the latest China-EU deal reached on September 5, Chinese
textiles blocked at European ports were to enter the European Union as of
September 14. It ended a trade row that had items from lingerie to pullovers
piled up in customs warehouses.
China, nevertheless, is yet to strike a "win-win" deal with the United States
on export quantities and growth rates for the coming few years. A sixth round of
Sino-US talks ended on Thursday without reaching agreement.
"Chinese textile firms hope the two countries will strike a deal soon because
businesses have been disturbed by the US restrictive trade policies over the
past year," said the chamber's vice-president Cao Xinyu.
Uncertainty has already disrupted next year's production plan, he said.
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