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USA:GAFTT to hold Textile Summit to prevent single
country textile trade monopolization |
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2005-1-24
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The Global Alliance for Fair Textile Trade (GAFTT) will hold press conference to discuss:
* The global economic impact of the expiration of quotas on textile and clothing products
* Efforts to persuade the WTO to address the negative economic impact of the quota phaseout
* Efforts to persuade the United States, European Union and other nations to adopt safeguards to prevent the immediate monopolization of global trade in textiles and clothing by a single country
A full list of press conference attendees will be sent out next week; however, representatives of trade associations located in the countries listed below are expected to participate at this time.
Turkey, Mexico, France, Portugal, Belgium, Nepal, Indonesia & United States
The press conference will be held:
Date: Wednesday, January 26
Time: 1:45 PM Eastern Standard Time
Place: Grand Hyatt Hotel
Constitution Rooms D&E on Constitution Level (3B)
1000 H ST NW
Washington, DC
Global trade in textiles and clothing totaled approximately $350 billion in 2003, with U.S. imports accounting for more than $77 billion of that amount. The now expired Multi-Fiber Agreement (MFA) governed much of this trade by allowing countries to impose quotas to prevent a small number of countries from monopolizing global trade in textiles and clothing. With no single country able to monopolize the market, dozens of developing countries were able develop clothing manufacturing industries. Most of these industries are now at risk as a result of the expiration of worldwide quotas on textile and clothing products on January 1, 2005 as China''s market share of global textile and clothing trade is expected to climb to $200 billion or more in short order.
The 3rd International Summit on Fair Trade in Textiles is being sponsored by GAFTT founding members ITKIB Association USA, National Council of Textile Organizations (NCTO), and the American Manufacturing Trade Action Coalition (AMTAC).
CONTACT:
Lloyd Wood - AMTAC - (202) 452-0866 or lwood@amtacdc.org
mailto:lwood@amtacdc.org Cass Johnson - NCTO - (202) 756-1422 or
cjohnson@ncto.org Ziya Sukun - ITKIB Assoc.
USA - (212) 398-6241 or itkibusa@aol.com |
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