EU confers China last & final chance to curb textile exports
26 May '05
1 min read
the eu, announced on wednesday that china has been given cut-off date to curb its textile exports or else eu would take safeguard measures.
the eu has approved to retain informal talks with chinese negotiators until may 31. the eu asserts that its textile industry has met with appalling results by the allowing china's cheap textile products to its market, losing production and jobs. the us already has put limits on chinese exports.
claude veron-reville, spokeswoman for eu trade head, peter mandelson said, “the next deadline is may 31. either there is an agreement or there isn't.”
china should restrain its exports to the eu at 7.5 percent more than the total volume exported in the last 12 months. to crack the problem, china raised tariffs on its surging textile exports.
most of the eu nations urge to impose quota on t-shirt and flax yarn sectors, which has recorded the hardest hit by the chinese flood in textile exports.
growth in t-shirt imports stood at 187 per cent over the first four months of the year compared to the year-earlier period, and at 56 per cent for the flax yarn sector.
-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)")
