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EU told not to exaggerate textile issue
Updated: 2005-05-08 07:33

Chinese Trade Minister Bo Xilai called for the European Union (EU) not to exaggerate the textile issue in his meeting with EU's Trade Commissioner Peter Mandelson in Paris, according to the Ministry of Commerce Saturday.

In their meeting on Thursday, Bo stressed that limitation on Chinese textile products not only harms China's interests but also damages the interests of EU importers, retailers and consumers.

Mandelson said EU attaches importance to its trade ties with China. China is increasingly strong in trade and manufacturing industry. The bilateral trade between the two sides has seen rapid growth in recent years, which is of vital importance to both sides, he added.

At present, some EU member states show concern over a surge of China's textile exports, Mandelson said, adding that EU will take quick actions to slow down the surge momentum.

Bo said EU's inquiry of China's nine textile categories is not abundant in procedure. "The exports increase of some textile categories does not disorder the importing countries' markets." He said.

China is a responsible country and it has taken a series of measures to control the increase of textile export to EU, Bo said. The increasing rate began to dropped in March, and it will continue to decrease in the next few months, he said.

Bo said China and EU will celebrate the 30th anniversary of the establishment of bilateral ties on May 8. Last year, the bilateral trade volume reached 177.3 billion US dollars. EU has surpassed the United States to become China's first trade partner. EU has also for the first time become China's first trade partner in high technology.

In the past ten years, China imported 330 billion worth products from EU, Bo said, adding that China will import 1,000 billion worth of products from EU in the next ten years.

Bo noted Sino-EU textile trade only takes 7.1 percent of the bilateral trade. China and EU are compatible in textile trade. China not only exports textiles and dress to EU, but also imports EU's textile materials.

Bo and Mandelson agreed to enhance consultation on the textile issue and find the best way to settle the issue.

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