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3,000 firms win bid for textile exports to EU
By Yan Yang (China Daily)
Updated: 2005-10-01 06:08
Up to 80 million garments started piling up in European warehouses and
customs checkpoints after Chinese companies used up their quotas.
Commerce Minister Bo Xilai and EU Trade Commissioner Peter Mandelson had to
sign another agreement in Beijing on September 5 to allow the release of the
Chinese garments. After a 10-hour closed-door discussion in Shanghai in May, the
two sides reached a consensus to set the export quotas until 2007.
In another development, China announced low-tariff import quotas for sugar at
1.945 million tons for 2006 the same as 2005 as part of its commitment as a
member of the World Trade Organization.
The State-owned firms would hold 70 per cent of the import quotas while 30
per cent would be issued to private firms, the Commerce Ministry said.
Import quotas for wool were set at 287,000 tons for
2006, the ministry said.
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