Bulgaria and Romania to Limit Textile Import from China
Source: SinoCast Date: 2007-01-09
Due to the entry of Bulgaria and Romania to the European Union, China’s textile exports to the two countries are being confined from the very first day of this year.
In 2005, China inked agreement with the EU on textile trading. Under the agreement, annual increase ratio of China’s textile export to EU countries must be limited to 8% to 12.5%, in a three-year transitional period.
Bulgaria and Romania had been China’s trade partners from January to November in 2006, and their exports and imports kept growing rapidly during the period. Analysts believed that the entry of Bulgaria and Romania to the EU would give a blow to Chinese textile exporters.
However, some Chinese textile manufacturers do not deem the entry will influence textile exports too much - some companies have got enough quotas to the EU and some do not regard the two as important export destinations, Chinese media said.
