After the victory of China announced by WTO panel last week in the fastener trade dispute with the EU, Chinese companies expressed their welcome to the ruling and hoped the export to the EU could rebound from the bottom. However, some companies also said that the EU would be no longer their sole market and they are actively developing new markets around the world. One manager of a China-based export company said, ”This is good news. Our European clients have again started to contact us to ask the re-emergence in European market. In addition, we will also develop our new business areas like the United States or Canada.” According to the report by the Freedonia Group, the demand for steel fasteners is going to increase 8.5% annually and will reach US$80.5 billion through 2014. The Department of Commerce of PRC also welcomed the ruling and asked the EU to treat Chinese companies fairly, stop discriminatory actions, and maintain normal trade relations.

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The IHA to Host 51th Biennial Congress on May 9-12, 2011.

2010-12-10

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