EU agrees to stop investigation into ten lines of Chinese textile exports

The European Union has agreed to stop investigations into ten categories of textile products from China, according to the agreement signed by both sides at the early hours Saturday in Shanghai.

China and EU also reached consensus on the annual growth of textile exports for the ten lines of Chinese products between June 11, 2005 to the end of 2007. With an agreed base quantity, the annual growth is set to rise from 8 percent to 12.5 percent during the period, said sources with the Chinese Ministry of Commerce.

Both agreed to address problems emerged from textile trade "through consultation," according to the agreement.

The ten lines of textile products include cotton cloth, T-shirts, pullovers, trousers, blouses, sheets, dresses, brassieres, table cloth and woven fabrics flax.

The agreement was reached after ten-hour-strong close-door talks between Chinese Commerce Minister Bo Xilai and the visiting EU Trade Commissioner Peter Mandelson.

Source: Xinhua