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China:China to triple its US textiles and apparel market share after quota phaseout |
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2004-9-15
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It was generally percieved that China''s share of textile and apparel products in the US market is expected grow thrice the present size in the coming years in wake of the expiration of the global textile quotas.
Both, traders and experts carried this perception about China at a local apparel sourcing symposium held yesterday.
According to Bart Fisher, managing partner with the US-based Law Offices of Bart S. Fisher, "The post-quota market is expected to offer greater trading opportunities for Chinese textile and apparel manufacturers as well as foreign buyers."
Fisher was the trade counsel for China''s Ministry of Foreign Trade and Economic Cooperation in 1999 and 2000.
"There will be more US investment going into the Chinese textile industry."
China''s share of textiles and apparel in the US market will more than triple to about 40 to 50 percent in two years from the current 12 percent, he said.
"Although some US producers have petitioned the US government to restrict Chinese exports with safeguard measures or other trade barriers, a freer trade picture is the general tone," he said.
Fisher was among about 160 global buyers, traders and experts from the United States and Europe who came to meet more than 400 Chinese apparel suppliers at the China Symposium and Sourcing Fair which opened yesterday at Shanghai Exhibition Center.
At the fair which will run through Thursday, global buyers including Adidas, Tommy Hilfiger, Max Studio, Nike and Wal-Mart gathered to meet domestic suppliers.
Its organizer, VNU Exhibitions Asia, said the fair next year is expected to triple its scale given the greater business opportunities in the post-quota period.
Given Chinese textile products'' advantages in price, quality and suppliers'' ensured research and development capability, other suppliers in some developing countries such as Vietnam or Mexico will be threatened with declining market share, traders said.
Thomas Eggleston, president and chief executive officer with the US-based China Direct Trading Co which has conducted textile and apparel trade in China for 20 years, said his company was ready for a dramatic increase from the production side in China and buyers in the United States and other countries.
"My clients who now source in Central America or along the Caribbean coast have decided to shift their sourcing to China," he said. "Many Chinese factories have also contacted my company in order to find appropriate and long-term partners."
Although US trade deficit with China was recorded at US$4.9 billion in July, the US government has softened its tone by saying it is letting the Chinese government voluntarily restrict exports, Fisher said. |
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