Europe, China reach textile deal
The European Union and China have reached an agreement on unblocking Chinese textile imports held at European borders, the European Commission said yesterday. EU Trade Commissioner Peter Mandelson and his Chinese counterpart Commerce Minister Bo Xilai, in Beijing, reached a deal on future quota limits, allowing some 75 million garments into the EU, EU spokeswoman Francoise Le Bail told reporters."The aim is to release as quickly as possible the textiles which are currently blocked at customs," she said. The EU's 25 member states will need to approve the deal before the clothing can go on sale in European stores. The agreement effectively raises import limits to allow in excess clothing amid growing concern that a flood of cheap Chinese goods undercuts European producers. European governments still have to agree the details of how the extra imports should be unblocked. Talks broke off in Brussels on Friday and are due to continue yesterday.
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