US, Chinese talks aim for textile trade deal

[lovuian]

http://newsfromrussia.com/economics/2005/08/17/61389.html

China's Foreign Minister Li Zhaoxing said on Wednesday he was confident that talks on China's surging textile exports to the United States would end successfully.

Li told a news conference in Estonia during a visit to the Baltics that China, as a member of the World Trade Organization, would follow all its rules conscientiously and that talks this week should end well.

"In regard to textiles ... if there is any difference in interpretation or in practice we are ready to enter into negotiations with the parties concerned on the basis of mutual respect," he said.

U.S and Chinese officials on Tuesday began two days of trade talks that American manufacturing groups hope will lead to limits on Chinese textile imports.

U.S textile manufacturers want a deal to protect an industry battling growing imports from China since a decades-old global quota system expired on January 1, reports Reuters.

According to Forbes, the two delegations broke up in the afternoon but were expected to hold informal contacts over dinner, officials said.
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This isn't for the people this is for the US Textile industry!!!But at least he is doing sumthing!!!