China will not curb its textile exports - commerce minister - Forbes.com
China will not curb its textile exports - commerce minister - Forbes.com
AFX News Limited
China will not curb its textile exports - commerce minister
05.18.2005, 11:53 PM
BEIJING (AFX) - China will not impose more curbs on its textile exports, Minister of Commerce Bo Xilai said.
Bo made the statement yesterday in a meeting with a delegation of US businessmen, according to the ministry's website.
He said it is unfair for the US to impose quotas on imports of China's textile products, and its actions are in violation of the World Trade Organization's principle of free and fair trade.
'The globalization of the textile trade is a right we have gained since China joined the WTO, and China will not impose curbs on its textile products,' he said.
China has already announced it is imposing duties on textile exports in a bid to slow growth.
An official at the ministry told XFN-Asia that the minister was ruling out restraints on export volumes.
The EU has already slapped curbs on imports of flax yarn and T-shirts from China, and has warned that further measures will be considered if Beijing does not show a 'constructive attitude'.
Last week, the US set quotas on Chinese made cotton trousers, cotton knit and underwear. The US imposed additional curbs on imports of Chinese garments - after the minister made his remarks yesterday.
Bo told a business conference yesterday that fresh curbs on textiles after the scrapping of a global quota system in January will undermine the next round of talks at the WTO for a further liberalization of trade.
lilian.wu@xinhuafinance.com
lyw/wk
AFX News Limited
China will not curb its textile exports - commerce minister
05.18.2005, 11:53 PM
BEIJING (AFX) - China will not impose more curbs on its textile exports, Minister of Commerce Bo Xilai said.
Bo made the statement yesterday in a meeting with a delegation of US businessmen, according to the ministry's website.
He said it is unfair for the US to impose quotas on imports of China's textile products, and its actions are in violation of the World Trade Organization's principle of free and fair trade.
'The globalization of the textile trade is a right we have gained since China joined the WTO, and China will not impose curbs on its textile products,' he said.
China has already announced it is imposing duties on textile exports in a bid to slow growth.
An official at the ministry told XFN-Asia that the minister was ruling out restraints on export volumes.
The EU has already slapped curbs on imports of flax yarn and T-shirts from China, and has warned that further measures will be considered if Beijing does not show a 'constructive attitude'.
Last week, the US set quotas on Chinese made cotton trousers, cotton knit and underwear. The US imposed additional curbs on imports of Chinese garments - after the minister made his remarks yesterday.
Bo told a business conference yesterday that fresh curbs on textiles after the scrapping of a global quota system in January will undermine the next round of talks at the WTO for a further liberalization of trade.
lilian.wu@xinhuafinance.com
lyw/wk
posted by Eastlaw at 12:34 AM
0 Comments:
Post a Comment
<< Home