EU confirms deal with China on textile trade
The European Union and China have struck a textiles trade deal for when the bloc's import quotas expire on January 1 in a bid to avoid a repeat of the 2005 "Bra Wars" debacle. Trade experts from EU countries yesterday backed the plan for a so-called...
The European Union and China have struck a textiles trade deal for when the bloc's import quotas expire on January 1 in a bid to avoid a repeat of the 2005 "Bra Wars" debacle.
Trade experts from EU countries yesterday backed the plan for a so-called double monitoring system which will keep check for one year on export licences issued in China and import licences issued in the EU, the European Commission said.
The double-checking system will cover eight of the 10 categories of textiles still subject to the import quotas. The categories to be monitored include T-shirts, pullovers, men's trousers and bras.