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Our Bureau

Mumbai , Dec. 13

THE Cotton Textiles Export Promotion Council (Texprocil) has signed a memorandum of understanding for mutual cooperation with the China National Textile and Apparel Council (CNTAC).

According to the Texprocil press release, the objective of the MoU is to tackle the challenges arising out of the quota phase-out at the end of the year. India and China are likely to be dominant players in the globally textile market from 2005.

The Chinese delegation has had discussions with leading Indian cotton textile exporters, following which the MoU was signed by Mr B.K. Patodia, Chairman, Texprocil, and Mr Du Yuzhou, President, CNYAC.

The MoU is expected to enhance bilateral trade between China and India and the establishment of co-operative exchanges of statistical data, information on Web sites and sharing of publications to disseminate relevant information to trade and industry in both countries.

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