"The sectoral proffered by Turkey recognizes that global trade in textiles and clothing is today at risk of being monopolized by a handful of countries.A sectoral is the only way the WTO can stop the severe disruption afflicting global trade in textiles now and ensure the orderly development of trade in the future," said Auggie Tantillo, Executive Director of the American Manufacturing Trade Action Coalition (AMTAC).
In apparel categories removed from quota in the EU and the United States for more than three years, China's import market share is now 67 percent in the United States and 74 percent in the European Union. The next highest share is Thailand with 2.5 percent.
China's import market share in the 2002 product categories is now 67 percent in the United States and 74 percent in the European Union. The next highest share is Thailand with 2.5 percent. If China continues at its current pace in the 2005 categories not covered by safeguards, it will reach a 70 percent share of the import market by June 2007.[1][1]
To demonstrate the sector's economic sensitivity, according to the United Nations COMTRADE Database, global trade in textile and clothing-related products totaled nearly $440 billion in 2004.
As a percentage of imports reported by all reporting countries, special administrative regions, territories, and possessions (the World), textile and clothing-related products accounted for 10 percent or more of trade from more than 50 individual countries. In addition, the World imported more than $1 billion in textile and clothing-related products from more than 50 individual countries.
American Manufacturing Trade Action Coalition
marketing@alchempro.com
