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China Hails Textile Trade Deal with EU


China has hailed a textile trade deal with the European Union, saying it sets an example the United States should follow.

In 10 hours of negotiations between China and the EU Friday, both sides agreed to limit the growth of certain Chinese textile exports to around 10 percent a year for the next three years.

If a deal had not been reached by the end of the day, EU officials in Brussels were threatening to impose emergency quotas on textile imports from China.

At a news conference in Shanghai Friday, EU Trade Commissioner Peter Mandelson said the arrangement is comprehensive and fair.

Chinese Commerce Minister Bo Xilai not only praised the deal, but criticized Washington for imposing quotas on certain Chinese textiles.

Information for this report is provided by AFP.

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