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Andhra Pradesh
South Asia not ready for quota-free textile trade: UNDP
By Our Staff Reporter
HYDERABAD,
DEC. 13.
United Nations Development Programme head, Asia Pacific, Hafiz Pasha, said that South Asian countries were not "well prepared" to meet the challenges of the quota-free trade regime in textiles coming into effect from January 1, 2005.
Speaking at a meeting of South Asian officials discussing governance reforms here on Monday, Dr. Pasha said that textiles constituted 60 to 70 per cent of the total exports of Bangladesh, Nepal and Pakistan. Even India with a more diversified export base was a leading textile exporter.
`Brutal shocks'
"Any shocks in the global textile market could be devastating for millions of poor peoplewho are dependent on the textile industry," he warned.
He, however, expressed hope that the Indian textile industry would be able to take advantage of the end of the quota regime to increase its exports.
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