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EU lifts quotas on textiles

03/Dec/2004 Vietnamnet | Thanh Nien

The European Union has decided to remove its quota restrictions on textile imports from Vietnam as of January 1 next year following successful bilateral negotiations.

An agreement was signed by Vietnamese deputy Trade minister Luong Van Tu and EU Ambassador to Vietnam Markus Cornaro Friday, December 3 in Hanoi.

 

The agreement will allow Vietnam to export textiles to one of the country's largest trading partners without limits, eliminating all adverse impacts of the quota system, said a Vietnamese official.