"Attempting to manage the world? fastest growing economy and the country with the world? biggest population is preposterous. It? delusional." The comments came a day after the World Bank? director for China, David Dollar, said Beijing? exchange rate policy that keeps the yuan valued between 8.276 and 8.28 per dollar was a "legitimate choice" and not a manipulation of the yuan currency. The World Bank has said China? exports have climbed at a 20 to 30 percent annual clip, well ahead of worl

China's agreement to restrict growth in textile exports to head off threats of quotas by the United States and the European Union may make the industry more competitive by driving smaller factories out of business. China's textile makers, which invested US$25 billion in two years to expand, will need to apply for export licences as the government tries to rein in growth in an industry, worth more than US$100 billion a year, China''s Commerce Ministry said on June 20. "China may, through this tra

China said it opposed anti-dumping investigations by the European Union (EU) into increased Chinese shoe imports, accusing its trading partner of distorting trade figures and misleading the public. "China urges the EU to start with the facts, make decisions cautiously and avoid trade frictions," Chong Quan, a spokesman of Ministry of Commerce, said in a statement on the ministry's Web site Saturday. China is against the EU starting anti-dumping investigations without "factual grounds or legal ba

Bad weather, and lack of quality inputs has hampered Tajikistan? cotton production for the year 2005. As a result, exports are expected to decrease.According to USDA Foreign Agricultural Service report, cool and wet weather in early spring delayed cotton sowing in Tajikistan. Due to heavy rains, about 28,000 hectares had to be replanted. Further, the lower temperature during early germination period has delayed maturation of plants for about 8-12 days. This has resulted in a delayed harvest.As p

Manama Textile Mills has unleashed a new $35 million dyeing and printing plant. The new plant will be used for the production of sheets, curtains, kitchen items and tableware. The new plant has the capacity to manufacture 600,000 sheet sets a month. These products will be eventually sold at major brand stores in the US and Europe under the brand name Made in Bahrain.According to Naveed Qari, Region and Corporate Manger, this one of its kind plant will reaffirm Bahrain? position as important play

In the post MFA era, China? textile industry plays a dominant role on international market, attracting global buyers. China is considered as very important sourcing region for the fact that it offers textiles and apparel products at lowest cost and high quality. The textile and apparel manufacturing industry of China is a well-oiled machine that works in complete synchronization integrating material supply, equipment, production techniques, and management. In order to demonstrate the new look of

Sri Lanka may qualify for the EU? Generalized System of Preferences (GSP) plus scheme that will provide gain duty free access to the western EU market. Certain group of independent states and Latin American countries are likely to be listed in GSP Plus, which is currently being finalized by the EU commission. The scheme is designed to help weaker economies, it is expected be functional for a period of three years, which will end by the year 2008. Pakistan and India tried hard to get the benefit

India's textile exports to the European Union will be excluded from EU's new GSP scheme, due to be effective from 1 January 2006. India's apparel exports will still enjoy tariff reductions by contrast. Bangladesh continues negotiating a change in rules of origin under the so-called EBA provision that grants duty-free entry while Sri Lanka will get duty-free access from 1 July. The EU's Generalised System of Preferences (GSP) scheme that has been in operation for the past ten years has just been

China has taken a stand against an EU probe into its footwear exports and has claimed that Brussels is manipulating trade figures and creating trade tensions between China and EU.Commerce Ministry spokesman Chong Quan stated that the China strongly counters the launching of an anti-dumping investigation by the EU that is being done without any practical or legal basis.Chong informed that China had formally represented with the EU on the errors in calculating trade statistics and appealed EU to e

EU Member States have this afternoon backed EU Trade Commissioner Peter Mandelson? reform of the EU? Generalised System of Preferences (GSP). Agreement by Member States, led by the Luxembourg Presidency, breaks a three month deadlock in Council that has delayed the adoption of the new preferential access system. The reform of the GSP will make the EU? system of preferential market access for developing countries both simpler and fairer. While the new GSP system as a whole will apply from 1 Janua