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China Textile Has Difficulty To Breakthrough in ASEAN Market After ACFTA In Force
Source: www.ccfgroup.com Date: 2009-11-25
It has only over a month's time left for China - ASEAN Free Trade Agreement to come into effect on January 1, 2010, thus, a more open and a large regional market will soon open to Chinese textile and garment industry. This may mean a gospel to Chinese textile industry in theory, under the increasingly grim trend of global trade protectionism.
According to China - ASEAN Free Trade Agreement, as well as China - ASEAN Free Trade Area built on the agreement, China's exports of textiles, shoes and apparel products are expected to get zero-tariff treatment from the ASEAN. From a common sense of view, China's preponderant textiles, shoes and apparel products will reap a much larger export market, this may mean hopes of survival to many troubled export enterprises in developed markets in Europe and the United States.
However, from a realistic point of view, it is still difficult to ascertain whether the ASEAN can really expand its "demand" after the commencement of the agreement. Some people think that ASEAN is difficult to digest overfull production capacity in China. On the other hand, many Chinese enterprises have already enjoyed zero-tariff treatment from ASEAN countries through other free trade zones set up by 2002 in ASEAN countries before the agreement entering into force, which means that relevant market development already carried out.
Therefore, some companies believe that it is difficult to achieve a breakthrough of development in the ASEAN market after China - ASEAN Free Trade Agreement enters into force.
According to China - ASEAN Free Trade Agreement, as well as China - ASEAN Free Trade Area built on the agreement, China's exports of textiles, shoes and apparel products are expected to get zero-tariff treatment from the ASEAN. From a common sense of view, China's preponderant textiles, shoes and apparel products will reap a much larger export market, this may mean hopes of survival to many troubled export enterprises in developed markets in Europe and the United States.
However, from a realistic point of view, it is still difficult to ascertain whether the ASEAN can really expand its "demand" after the commencement of the agreement. Some people think that ASEAN is difficult to digest overfull production capacity in China. On the other hand, many Chinese enterprises have already enjoyed zero-tariff treatment from ASEAN countries through other free trade zones set up by 2002 in ASEAN countries before the agreement entering into force, which means that relevant market development already carried out.
Therefore, some companies believe that it is difficult to achieve a breakthrough of development in the ASEAN market after China - ASEAN Free Trade Agreement enters into force.
