Breaking News, World News and Taiwan News.

Updated Wednesday, October 10, 2007 0:00 am TWN, Reuters

European Union backs China plan in bid to avoid new ‘Bra Wars’

BRUSSELS -- Looking to avoid a repeat of the “Bra Wars” debacle of 2005, the European Union on Tuesday backed a deal with China for tight checks on textiles imports when the bloc’s quotas expire on Jan. 1. A majority of the EU’s 27 countries supported the one-year plan to monitor textile export licences issued in China and import licences issued in the EU, the European Commission said.

The deal is a relief for EU trade chief Peter Mandelson who has urged China to act over its trade surplus with the bloc which has soared past 100 billion euros (US$140.4 billion) a year.

Subscribe to The China Post and save 25%. Click here

Share

Print

Email


Sponsors
▪	Save 70% for hotel in Shanghai and 6000 hotels, in Beijing, Guangzhou, Shenzhen, and all China.
▪	Get the best deals for Guangzhou Hotels or choose from more than 10,000 hotels in 499 Chinese cities.
▪	Find great real time deals on China Flights. Book flights to China or China domestic flights 24/7.
▪	Buy china wholesale products from reliable chinese wholesalers on DHgate.com!