China, EU and USA to hold Trade Talks
Written by JDPGlobal | Thursday, 14 July 2005
China and the U.S are getting ready for a round of trade talks. Experts believe the main agenda of the talks will be textile trade and how the US would like China to stem the tide of piracy.
Though the talks could produce deals on agriculture and banking, the path seems to be thorny by the presence of piracy, exports and software rows.
China has registered soaring growth in exports since the Multi Fibre Agreement, which set worldwide quotas for garment and clothing exports.
Though China formed an agreement of limiting exports to 2.5 percent with the EU, the US has unilaterally imposed a 7.5% limit on growth of imports from China as a response.
Another central point that will be discussed is the value of its currency, the yuan, which has stayed pegged to about 8.31to the US dollar despite the soaring exports and breakneck economic growth.
The talks, which are expected to be set on reduced tariffs on agricultural and industrial goods, will be held ahead of a meeting of 30 members of the World Trade Organisation.
