Trade representatives of China, Japan, Europe and US are undertaking research to find regions for export promotion zones in Europe and Asia.
The purpose behind these export promotion zones is to abolish customs duties and tax barriers in textile and apparel industry and to increase trade opportunities.
Apparently easy task on paper, the project is not a child's play, according to experts.
The mammoth project is likely to be finished by 2012 and first round of discussion has started in Japan. Next rounds are scheduled in Beijing (March 2008), Brussels (2009) and United States (2010).
Sources also revealed that free trade zones under consideration are likely to be set up at Euro Mediterranean textile free trade zone, and other zones in some areas like South Korea, India and Southeast Asian countries.
The purpose behind these export promotion zones is to abolish customs duties and tax barriers in textile and apparel industry and to increase trade opportunities.
Apparently easy task on paper, the project is not a child's play, according to experts.
The mammoth project is likely to be finished by 2012 and first round of discussion has started in Japan. Next rounds are scheduled in Beijing (March 2008), Brussels (2009) and United States (2010).
Sources also revealed that free trade zones under consideration are likely to be set up at Euro Mediterranean textile free trade zone, and other zones in some areas like South Korea, India and Southeast Asian countries.
