Prime Minister Wen Jiabao urges for resolution of trade disputes with EU
16 May '05
2 min read
Worldwide textile quotas were eliminated at the beginning of the 2005 as a result of the previous round of world free trade negotiations. China has imposed export tariffs on textile exports in a bid to ease world worries of an export surge of textile goods.
The Chinese premier stressed that China's self-imposed measures on textile exports have born positive results. He promised China will take more "effective measures" to exercise a "macro-control" of the textile sector in China.
"We will take further economic measures to prevent an excessive growth of China's textile and garment exports," Wen said. "Those measures are also aimed at restructuring China's textile sector and ensuring a healthy, sustainable growth of the sector."
China-EU trade hit 177.3 billion US dollars in 2004, up 73 times from that in 1975 when China and the European Community forged full diplomatic relations. The European Union became China's top trade partner last year after it expanded to 25 members. China was EU's second largest trade partner.
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-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
