Foreign trade official Lu Jianhua says trade hit due to US textile restrictions
01 Aug '05
10 min read
Companies exporting restricted products are suggested to pay attention to the early-warning information on the MOFCOM website in order to sign export contracts with caution bearing in mind the export data and US customs clearance data. Meanwhile, they should raise the risk awareness, rationally sign export contracts and make production plans to avoid evitable losses.
Ques: Currently, 10 categories of textile exports to the EU are subject to the interim export control. Will the US restricted or to-be-restricted textile products be brought under similar control?
Ans: MOFCOM has been keeping in touch with the relevant departments of the US on the administrative cooperation on the restricted products. During the technical consultations, China has referred to the issue for several times, which was positively responded by the US side. Now the two sides are having further discussions on the specific technical details. Once an agreement reached on the administrative cooperation, we will put in place interim export control on the restricted products in line with the Interim Measures for the Administration of Textile Exports.
Ques: What do you think the Chinese companies should do under the current circumstances of China-US textile trade frictions?
Ans: Under the current complex international trade environment, Chinese companies should, first of all, transform the mode of textile export growth, and constantly improve the export mix. Given the new developments after the textile trade integration, Chinese companies should not simply pursue quantitative increase, which also conflicts with the requirement of sustainable economic development.
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