Beijing, Washington strike deal on China textiles
Beijing, Washington strike deal on China textiles
Beijing, Washington strike deal on China textiles
(AFP)
Updated: 2005-11-07 17:21
The United States and China have agreed to a deal on the import of mainland clothing and fabric, resolving a bitter trade dispute between the two nations, a major Chinese textile association said.
A shop assistant puts socks on mannequin feet in a store in Beijing in this undated file photo. [AFP]
"Both the US and China have compromised in reaching this textile pact," China National Textile and Apparel Council spokesman Sun Huaibin said.
"China made concessions on the duration of the quotas, allowing the US to impose controls on access by Chinese textiles and apparel to the American market through 2008, instead of 2007," Sun said.
The US imports of China-made textiles will be limited to 10-17 percent annual growth rates through to 2008, a concession by China, which wanted it to expire in 2007, Sun said.
It provides for a progressive increase in imports of most major textile and apparel products from China -- by 8 to 10 percent in 2006, 13 percent in 2007 and 17 percent in 2008.
It also represents a concession by Washington, which had proposed keeping annual growth close to 7.5 percent, he added.
Sun said working under the new agreement would be better than being subjected to protectionist, unilateral safeguards and would increase certainty for the Chinese industry.
Beijing, Washington strike deal on China textiles
(AFP)
Updated: 2005-11-07 17:21
The council's statement echoes similar reports from the US media over the weekend.
Workers sew clothes at a garment factory in Hefei, Anhui Province in this undated photo. It is reported China and the US have reached an agreement on China's clothes exports to the US. [newsphoto]
The US reports said Beijing and Washington had agreed in principle to a three-year textile pact allowing for escalating annual import growth rates in 34 individual categories of China-made fabrics and apparel.
The Washington Post said the agreement was likely to be signed next week by US Trade Representative Rob Portman and Chinese Commerce Minister Bo Xilai.
Portman is due to hold talks in Beijing on November 14 to discuss copycat abuses of foreign brands by Chinese manufacturers and lack of access for US companies trying to enter the booming Chinese market.
The pact follows several rounds of Sino-US negotiations to slow the surge of Chinese imports following the scrapping of a global textile quota system on January 1.
China and the European Union finalised a similar deal in September this year.
An official at China's Commerce Ministry declined to comment on the new agreement, saying a statement would be released soon.
Beijing, Washington strike deal on China textiles
(AFP)
Updated: 2005-11-07 17:21
The United States and China have agreed to a deal on the import of mainland clothing and fabric, resolving a bitter trade dispute between the two nations, a major Chinese textile association said.
A shop assistant puts socks on mannequin feet in a store in Beijing in this undated file photo. [AFP]
"Both the US and China have compromised in reaching this textile pact," China National Textile and Apparel Council spokesman Sun Huaibin said.
"China made concessions on the duration of the quotas, allowing the US to impose controls on access by Chinese textiles and apparel to the American market through 2008, instead of 2007," Sun said.
The US imports of China-made textiles will be limited to 10-17 percent annual growth rates through to 2008, a concession by China, which wanted it to expire in 2007, Sun said.
It provides for a progressive increase in imports of most major textile and apparel products from China -- by 8 to 10 percent in 2006, 13 percent in 2007 and 17 percent in 2008.
It also represents a concession by Washington, which had proposed keeping annual growth close to 7.5 percent, he added.
Sun said working under the new agreement would be better than being subjected to protectionist, unilateral safeguards and would increase certainty for the Chinese industry.
Beijing, Washington strike deal on China textiles
(AFP)
Updated: 2005-11-07 17:21
The council's statement echoes similar reports from the US media over the weekend.
Workers sew clothes at a garment factory in Hefei, Anhui Province in this undated photo. It is reported China and the US have reached an agreement on China's clothes exports to the US. [newsphoto]
The US reports said Beijing and Washington had agreed in principle to a three-year textile pact allowing for escalating annual import growth rates in 34 individual categories of China-made fabrics and apparel.
The Washington Post said the agreement was likely to be signed next week by US Trade Representative Rob Portman and Chinese Commerce Minister Bo Xilai.
Portman is due to hold talks in Beijing on November 14 to discuss copycat abuses of foreign brands by Chinese manufacturers and lack of access for US companies trying to enter the booming Chinese market.
The pact follows several rounds of Sino-US negotiations to slow the surge of Chinese imports following the scrapping of a global textile quota system on January 1.
China and the European Union finalised a similar deal in September this year.
An official at China's Commerce Ministry declined to comment on the new agreement, saying a statement would be released soon.
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