China, UK expect to sign big deals next week
By Qin Jize (China Daily)
Updated: 2005-09-03 07:21

Textile solution imminent?

Officials from China and the European Union (EU) are confident the problem of Chinese textiles' stockpiled at EU customs can be resolved in the near future.

"The problem will be resolved; that is for certain," Serge Abou, the European Union's ambassador to China, told a press conference on Friday.

After the EU negotiation team left Beijing, when talks aimed at ending the blocking of above-quota Chinese textile products failed, discussions concerning the textile conflicts continued through Abou's delegation in Beijing.

The ambassador said the textile issue is rather complex in its technicalities.

"I believe, and I am confident, we will be able to find a solution," Chinese Commerce Minister Bo Xilai said, adding that China and the EU were still earnestly discussing the problem.

Abou said that officials were hoping to find a solution before the EU-China summit in Beijing, but if they are unsuccessful, the forum will not be affected.

The second EU-China Business Summit will begin from next Monday in Beijing, during the Eighth EU-China Summit.

The business summit, which will be attended by Chinese Premier Wen Jiabao, British Prime Minister Tony Blair and senior officials from both sides, will also attract about 500 business executives from China and the EU, representing such companies as Shell, Ericsson, Airbus and Haier.

"Nearly all of the companies are Global Fortune 500 or Chinese top 500," said Sun Yongfu, director of the European Affairs Department of China's Ministry of Commerce.

The full-day business summit includes four workshops: "Building a Brand and Technology-Based Market Society in China," "Business Engagement With the Community," "Internationalization of Enterprises" and "Looking Ahead to 2010: An EU-China Economic and Financial Outlook."

The format of the previous gathering in the Hague, the Netherlands, would be continued in this year's summit, he said.

"The key goal of the summit is to facilitate an information exchange between business leaders and provide interaction with key politicians from both Europe and China," said Serge Janssens de Varebeke, president of the European Union Chamber of Commerce in China, one of the co-organizers of the summit.

"It will enjoy a good balance between business, politics, China and Europe."

In another development, the spokesman of Ministry of Commerce Chong Quan said on Friday China strongly opposed the US decision to launch safeguard measures on bra and synthetic filament fabric imports from China, restricting the annual growth rate of these two categories under 7.5 per cent.

"China reserves the rights for further actions within the World Trade Organization framework," he said.

The US Committee for the Implementation of Textile Agreement announced the curbs on Thursday and postponed the decision on curbs in four other categories of Chinese textiles to October 1.

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