Major countries have canceled their textile trading quotas on January 1, 2005, while many restrictive measures still remain, especially for China.
The European Union had ended quotas on 210 textiles and clothing items by January 1, 2005. Some countries, such as the United States, Canada and Turkey, also removed their quotas as scheduled.
Under quota restriction, the trade volume accounts for about 70 per cent of the total global textile trade.
Just a few weeks after the cancellation of the quota restrictions, many smaller developing countries began to share the big profitable markets of the developed world, which makes some countries worry that China and Indiaor the fear of social unrest and increase poverty that will probably be caused by the job losses from the closure of textile and clothing.
However, there has been little progress though the deadline is getting very close. will make huge inroads if they are freed from their quotas. F
A group of WTO member countries are calling for the World Trade Organisation to find solutions to the problems,
There is almost no prospect of the quotas being extended and the phase out is written into WTO rules. China and India would not agree to a delay.
