Cotton trading activity at the Karachi Cotton Association market was noted to be listless, even though some millers were reportedly active seeking quality lint. Spot rate remained static at Rs 2,300 per maund. Meanwhile, Trading Corporation of Pakistan (TCP) floated its last tender for sale of local and foreign quality cotton bales numbering 81,693. TCP would sell lint to foreign buyers only from August 15, 2005. So far, TCP has sold 110, 9071 bales through sixteen auctions including 10,09,071 b

BRUSSELS, Belgium_European retailers are to blame for exceeding the quota on cheap Chinese trousers by allowing too many shipments ahead of a cut-off date, the European Union's trade chief said Tuesday. EU Trade Commissioner Peter Mandelson said imports of Chinese-made trousers reached their annual quota limit on Monday. "The problem has been caused by importers trying to beat the restrictions after the Shanghai Memorandum of Understanding was signed on June 10," Mandelson said. "The sheer sca

US government trade officials are making moves toward negotiating a new comprehensive textile and apparel import quota agreement with China that would replace use of the piecemeal safeguard mechanism approach that has been used extensively over the past few months. Commerce Secretary Carlos Gutierrez announced the Committee for the Implementation of Textile Agreements (CITA) was postponing until August 31 any further action on six product categories in order to give government trade officials ti

Winter clothes may cost more as trade war between British retailers and the European Commission continues over Chinese imports. The fact that European ports are choking from imported Chinese textiles, apparels and other related items on the way to respective destinations, were held only because of EU import restrictions.Meanwhile, the European Trade Commissioner Peter Mandelson has slammed businesses in China and Europe, yesterday for causing a bottleneck in which 43 million Chinese-made items o

On August 9th, 2005 China Textile and Apparel Industry competitiveness Conference, sponsored by China National Textile and Apparel Council (CNTAC), was held ceremoniously in Great Hall of the People. Mr. Du Yuzhou, President of CNTAC, and Mr. Yan Hui, Vice-Director of Bureau of Industry Injury Investigation, Ministry of Commerce, attended the Conference and delivered important speeches. The heads of associations in China textile and apparel industry, outstanding entrepreneurs and journalists fro

The European Commission, the executive arm of the European Union (EU), said on Tuesday that the EU would allow imports of two categories of quota-exceeded Chinese textiles which are already in shipment. The EU and China reached an agreement in Shanghai in June whichset annual import restrictions for 10 categories of Chinese textiles and clothing products. Category 5 (pullovers) and Category 6 (trousers) have reached the quantitative limits for 2005, according to the commission. However, a number

As members of Congress become increasingly concerned about the US $162 billion trade deficit with China, they are putting pressure on the Chinese government and the Bush administration to take steps that will effectively address the issue. Although China has announced plans to revalue its currency?a major factor in the trade deficit ?the action was generally viewed as being far short of what needs to be done. The 2.1-percent revaluation against the dollar does not come close to what textile and

US apparel imports from China were clearly affected by the first embargoes placed by Washington at the beginning of July, preliminary data reveal. China's shares of the US import market declined in a large number of categories as a clear sign that the threat of other embargoes in the near future is depressing Chinese sales to US importers and retailers. US imports from China continued generally rising in the seventh month of the post-quota period, but they grew at a lower pace while even losing

With little to offer, ginners and millers both remained in the sidelines putting up a dull show at Karachi cotton market, Monday. Spinners and mills indulged in few deals whereby the Karachi Cotton Association spot rate remained at Rs 2,325 per maund. Meanwhile, Trading Corporation of Pakistan (TCP) received 46 bids for 79,600 bales for its weekly sale of cotton, mostly from local mills and exporters.The highest bid for 9,400 bales of grade III 1.1.32 stood at Rs 2,276 per maund. For 17,000 bale

European Union (EU) official stated that Europe has stopped accepting applications for import licenses for trousers made in China following completion of quotas, Monday.In mid-July, Chinese trouser export besides nine other textile products, came under restriction, when a deal was struck between Europe and China to impose self-restraint on exports of textile goods. Under the agreement, the quotas are permitted at an annual growth rate of between 8 and 12.5 percent in the ten types of Chinese tex