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Industry Welcomes Sino-EU Textile Deal
2005-6-12 15:05:26      CRIENGLISH.com
China's textile industry hails the Saturday's textile deal between China and the EU.
China's textile industry says Saturday's textile deal will ensure stable trade relations between China and the EU.

The deputy chief of the China Chamber of Commerce for Import and Export of Textile, Jiang Zhe says the deal to cap the growth of Chinese exports to Europe sets a good example for solving trade disputes through dialogue.

Zhao Lingmin, the vice-president of the Textile Import and Export Corporation expressed hopes that the agreement would help solve China's other trade impasse with the United States.

China and the EU reached an agreement on the textile trade Saturday in Shanghai. China agreed to limit the annual growth of its EU-bound textile exports to between 8 and 12.5 percent until 2008.

This will provide a smooth transition to a full opening up of the EU market in three years.

(Photo: Xinhua)

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