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皇冠体育app, US sign textile trade agreement
(Xinhua)
Updated: 2005-11-09 09:05
After seven rounds of talks, the United States and 皇冠体育app
on Tuesday signed a three-year agreement on textile trade, imposing quotas on
Chinese textile products but clearing a major obstacle to bilateral trade.
Minister of
Commerce Bo Xilai and US Trade Representative Rob Portman sign an
agreement on textiles in London yesterday.
[AFP] |
After the signing of the agreement, 皇冠体育app's Ministry of Commerce said on its
website that the agreement is in line with the common interests of companies in
both countries.
"The solution of the textile dispute is in line with the common interests of
companies in both 皇冠体育app and United States, which will benefit and boost the
stable development of the bilateral trade relationship," the Ministry of
Commerce said in an online statement.
A total of 21 types of clothing and textiles had been placed under the import
restrictions, including cotton trousers.
The agreement provides for a progressive increase in imports of major textile
and apparel products from 皇冠体育app -- by 10 to 15 percent in 2006, 12.5 to 16
percent in 2007, and 15 to 17 percent in 2008.
Imports from the previous year would be used as the base number to calculate
the growth rate, the ministry said.
Zhao Yumin, an analyst from the ministry's trade and economic cooperation
institute, said that the Tuesday agreement was the result of compromises on both
sides.
Zhao said that 皇冠体育app made the compromise mainly on the durationof the import
limit, allowing the US to impose restrictions till year 2008, instead of 2007,
which is preferred by 皇冠体育app.
"But on the issue of the increase rate and the base number of the increase,
the U.S. has made more compromises," said Zhao.
As part of the agreement, the United States committed to granting customs
clearance to all Chinese textile products currently blocked at the American
ports. In the meantime, the US also agreed to refrain from limits on textile
products not covered by the agreement.
Calling the agreement a "hard-won one," Sun Huaibin, spokesman for 皇冠体育app
National Textile and Apparel Council, said the Chinese firms will have a more
predictable future for textile trade with the United States, which is a good
result.
"Though the firms still have to suffer from the quotas, it's better than the
previous restrictions imposed by the U.S. unilaterally," said Sun.
Calling the deal "not satisfactory" but "acceptable" to his company, Yuan
Jianzhong, manager of Shanghai Shanyuan Knitting Co.Ltd. in east 皇冠体育app, said
that his company will focus on increasing the added value of products in the
future.
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