Argentina imposes quotas on Chinese textile import

Argentine President Nestor Kirchner on Thursday signed two decrees on restricting Chinese textile imports by imposing quotas on the product, announced the government.

The two decrees, which will be officially effective on Jan. 1, 2005, regulate that the imports of Chinese textile products and ready-made garments should not exceed by 7.5 percent and 6 percent of the total imports of similar products in the previous year.

Specific details will be announced later.

Argentina has already imposed high tariffs on Chinese textile products, which makes their access to the Argentine market impossible or very difficult. The new decrees will expand such restrictions.