Bo Xilai expresses Chinese optimism over EU held textile shipments
02 Sep '05
3 min read
Peter Mandelson
Uncertainities have prompted some major retailers to move their apparel and sourcing from China to Indonesia, even as wholesalers anticipate compensation claims from retailers as their shelves go empty. It is also claimed that retailers have funded marketing campaigns months in advance, and have yet to receive their indented stocks.
BRC's Alisdair Gray is apprehensive that if and when EU allows release of goods ports will have to contend with huge congestion that will take a few weeks more to clear up.
Now, the ball in EU Trade Commissioner Peter Mandelson's court, as he has called a meet of all the member countries representatives to propose the move to allow the impounded Chinese shipments enter markets by mid-September.
Mandelson has got the EU permission to remain flexible on the details of the proposal at a meeting on Thursday morning under which the quotas of 2006 will be extended this year.
He spoke to the Chinese Commerce Minister Bo Xilai, yesterday, but it is interpreted that China is in no mood to move back from its oiginal position.
Come Sunday, Mandelson will fly down to Beijing and meet Xilai and other Chinese officials to seek a broad agreement on the cpomlex textile issue.
Retailers meantime, in German and Sweden, like Adidas and Hennes & Mauritz (H&M) have begun feeling the heat due to the current scenario, it is reported.
marketing@alchempro.com
