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05/09/2005
Blair confident on EU and China trade deal
Prime Minister Tony Blair has said that he believes the trade dispute between the European Union and China can be successfully resolved.
The Prime Minister made his comments during a trip to Beijing for trade talks, as part of an EU-China summit. Mr Blair said: "There are bound to be disagreements over trade, partly because of the strength of the Chinese economic performance and where there are disagreements we have got to resolve them as we have fortunately been able to do in respect of textiles."
“The strategic partnership between China and the EU is of immense importance, not just in terms of trade, but also in terms of our co-operation on the major political issues the world faces.”
It has been reported that that the EU and China have settled the dispute, which led to around 75 million items of imported Chinese clothing, including trousers, sweaters and bras, being held at customs warehouses across the EU under new trade quotas.
The deal is believed to allow the goods through to the EU, with around half of them counting against 2006 quotas.
However, while EU officials have reportedly said that the deal has been agreed, their Chinese counterparts have said that the deal has not yet been finalised.
The deal will also have to be agreed by all 25 EU member states.
The new EU quotas, which were announced in June, were introduced in order to stop cheap Chinese imported clothing flooding into Europe. However, many European retailers rushed to place orders with China after the announcement of the new quotas, which soon pushed the level of imports over the new limits.
The British Retail Consortium warned that, if the crisis was not resolved, Britain could face a clothing shortage in the winter. However, countries such as France, Italy and Spain, which have large textile industries, did not want the quotas to be changed, in order to protect their own industries from the cheap Chinese imports.
EU Trade Commissioner, Peter Mandelson, has faced increasing criticism over his handling of the crisis, which has been dubbed the ‘bra wars’.
(KMcA)
The Prime Minister made his comments during a trip to Beijing for trade talks, as part of an EU-China summit. Mr Blair said: "There are bound to be disagreements over trade, partly because of the strength of the Chinese economic performance and where there are disagreements we have got to resolve them as we have fortunately been able to do in respect of textiles."
“The strategic partnership between China and the EU is of immense importance, not just in terms of trade, but also in terms of our co-operation on the major political issues the world faces.”
It has been reported that that the EU and China have settled the dispute, which led to around 75 million items of imported Chinese clothing, including trousers, sweaters and bras, being held at customs warehouses across the EU under new trade quotas.
The deal is believed to allow the goods through to the EU, with around half of them counting against 2006 quotas.
However, while EU officials have reportedly said that the deal has been agreed, their Chinese counterparts have said that the deal has not yet been finalised.
The deal will also have to be agreed by all 25 EU member states.
The new EU quotas, which were announced in June, were introduced in order to stop cheap Chinese imported clothing flooding into Europe. However, many European retailers rushed to place orders with China after the announcement of the new quotas, which soon pushed the level of imports over the new limits.
The British Retail Consortium warned that, if the crisis was not resolved, Britain could face a clothing shortage in the winter. However, countries such as France, Italy and Spain, which have large textile industries, did not want the quotas to be changed, in order to protect their own industries from the cheap Chinese imports.
EU Trade Commissioner, Peter Mandelson, has faced increasing criticism over his handling of the crisis, which has been dubbed the ‘bra wars’.
(KMcA)
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