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China, EU trying to resolve textile crisis
By Jiang Wei (China Daily)
Updated: 2005-08-24 05:54
However, he added, that might affect next year's exports in case the figure is large.
The textile crisis is partially a result of enterprises' "bad practices during a vacuum period" before the agreement on quotas was reached.
Meanwhile, the EU is facing increasing pressure from domestic retailers and importers for relaxation of quantitative restrictions on Chinese textiles since dealers are experiencing a shortage of competitively-priced products.
The trade ministers of the Netherlands, Germany and Sweden said in a recent statement that the best solution to the crisis is to "renounce protective trade measures."
A European Commission spokeswoman told local media that EU executives would meet representatives from all 25 member states in Brussels to address the issue.
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