In response to the Chinese government's decision not to renew a voluntary two-year restriction on textile imports to SA, Mario Ambrosini, the party spokesman on trade and industry, said that there was no future in trying to undercut the Asian dragon economies and China.
Asia will always have a labour-competitive advantage over SA.
As a free-market party the IFP defended the free movement of goods and services as a fundamental principle of the country's trade and industry policy with no price-fixing, tariffs or other trade barriers.
"We have a thriving textile industry and we need to focus on how we can penetrate the 'high end' of the fast-growing global market," he said.
"African chic has become fashionable across the world and, perhaps, we need to look at how our textile industry can be hallmarked with 'made in SA'".
"Our trade and industry policy must place greater emphasis on innovation, new ideas, the appropriation of skills and knowledge, and create a knowledge-based society".
"This is SA's fundamental economic weakness which is constraining the growth of our textile industry, too."
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