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Textile Deal Won't Affect 2006 Export Commerce Minister Bo Xilai said in an interview that the amount of textiles to be added to next year's quota is "quite small" and will not affect exports to the European Union. The Minister said the items being added to next year's quota are blouses, trousers and bras, which only counts for 3 percent of next year's quota. Earlier this month the two trade partners reached an agreement allowing millions of Chinese textile products, which had exceeded EU import quotas for the year, to be released from customs at various European ports. Under the terms of the agreement, half of the textile goods being held in
customs will enter EU markets while the other half will be added to China's
textile quota for next year. |
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