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European Union officials and China have reached an agreement to end a trade dispute that has left millions of Chinese-made garments stuck in EU ports. EU Commission President Jose Barroso announced that EU Trade Commissioner Peter Mandelson and Chinese Commerce Minister Bo Xilai signed the deal in Beijing
on Monday.
Mr. Barroso says the agreement represents an amicable way to share the burden of releasing the shipments blocked when China exceeded agreed limits for its textile exports to Europe.
EU member nations must still approve the deal, which counts about half the goods towards next year's Chinese export quota.
Meantime, British Prime Minster Tony Blair attended the annual EU-China summit in Beijing where he discussed trade and investment. |