China and Taiwan have joined the World Trade Organisation

this has two main implications for the footwear industry. Firstly, EU quotas on Chinese footwear are being dismantled faster and will now be completely removed in from the end of 2004 - good news for some importers and more competition for some European manufacturers. The 2002 quotas are significantly larger than 2001. Secondly, China’s market will be opened more to imports of all kinds as the WTO’s regime forces, over time, the removal of a range of barriers to trade, both tariff and non-tariff obstacles.