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Indonesia joins in call for extension of textile export quota.

Indonesia joined a number of other developing countries to call for extension of quota system in the trading of textiles and garments. Industry and Trade Minister Rini M.S. Soewandi said the government welcomes calls by other countries like Mauritius, Bangladesh, Pakistan and Srilanka on the World Trade Organization (WTO) to reconsider plan to abolish quota restriction on textiles and garment imports. The United States and the European Union have decided to comply with the WTO rule to abolish import quota for textiles and garments in 2005. Most developing nations including Indonesia are worried that the abolition of the quota system will put them in open competition facing powerful rivals especially China. Rini said many developing economies depend much of textile and garment industry in foreign exchange income and employment. Rini cited that textile and garment industry accounts for 65% of income of Bangladesh and the industry provides jobs for 2.5 million people in that country. She said even U.S. textile industrialists are in favor of maintaining quota system as they feared that the U.S. market would be flooded with cheap products from China once the quota system is abolished.
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Title Annotation:Economic News In Brief
Publication:Indonesian Commercial Newsletter
Article Type:Brief Article
Geographic Code:9INDO
Date:Aug 31, 2004
Words:193
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