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![EU Trade Commissioner Peter Mandelson (L) and China's Commerce Minister Bo Xilai pause during their joint press conference, after signing a China-EU textile agreement in Beijing September 5, 2005. [Reuters]](xin_480902061534078227693.jpg) |
| EU Trade Commissioner Peter Mandelson (L) and
China's Commerce Minister Bo Xilai pause during their joint press conference, after signing
a China-EU textile agreement in Beijing September 5, 2005.
（Reuters) |
China and the European Union (EU) reached an
agreement yesterday evening to resolve the stockpiles of Chinese textile
products held at EU borders.
The agreement, signed by Minister of Commerce Bo Xilai and EU Trade
Commissioner Peter Mandelson, will allow some 77 million textile products,
including sweaters, trousers, T-shirts and bras, to enter the European
market.
The deal is "fair and rational from the perspective of both key
principles and minor details," Bo said.
"Sino-EU economic and trade relations are full of vigour and mutually
needed, and we can achieve win-win results through exchanges and
co-operation," he said.
"It is 50 to 50," Mandelson said, explaining that half of the garments
would be allowed in outside quota rules on the EU's account, and half
would be counted against limits for this year and next year, effectively
reigning in Chinese export growth.
However, the two trade chiefs declined to elaborate on details.
This round of minister-level talks lasted about 10 hours on Sunday till
3 am on Monday morning, and restarted at 8 am yesterday.
"The deal still needs to be presented to and discussed by the 25 member
states of the EU," Mandelson said, adding that further discussions would
be held in Europe today.
The agreement, Bo said, did not
mean that the bilateral agreement signed between the two sides is
unsuccessful. "It is a win-win deal."
(China Daily) | 
Updated: 2005-09-06 15:38
