| Author (Corporate) | European Commission: Press and Communication Service |
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| Series Title | Press Release |
| Series Details | IP/05/730 (14.6.05) |
| Publication Date | 14/06/2005 |
| Content Type | News |
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At its meeting on 13 June 2005 the Textiles High Level Group (THLG) called on the EU and national authorities to help address the structural changes taking place in the industry by attracting new investment, providing retraining opportunities and committing social relief to the hardest-hit regions. It was found that the abolition of textile quotas on 1 January 2005 raised considerable challenges for the EU textiles industry. The meeting further stressed the importance for the industry to tap on the large potential for export to China and elsewhere offered by the liberalisation of textile trade. The Group expressed its support for the recent EU-China textile accord. In order to help the textile industry adjust to the changing competitive environment resulting from trade liberalisation, the EU and China have agreed to grant a three-year adaptation period during which the growth rate of Chinese textile imports would be limited in categories of concern. |
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| Source Link | Link to Main Source http://europa.eu/rapid/pressReleasesAction.do?reference=IP/05/730&format=HTML&aged=0&language=EN&guiLanguage=en |
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| Subject Categories | Business and Industry |
| Countries / Regions | China, Europe |
