Source Pravda.Ru

China and UN finally agreed on quotas

Chinese and European Union leaders have agreed on the release of millions of Chinese garments held up at European ports for exceeding import quotas.

The agreement was reached Monday morning in a meeting in Beijing between Chinese Commerce Minister Bo Xilai and European Trade Commissioner Peter Mandelson, although the deal had not yet been signed nor details released, CNN reported.

Also Monday, Chinese President Hu Jintao hosted talks with British Prime Minister Tony Blair, European Commission President Manuel Barroso, and EU foreign policy chief Javier Solana. The delegation was in Beijing for the eighth annual China-European Union summit.

Blair, whose country currently holds the rotating EU presidency, described the EU-China partnership as "very important" in terms of trade, economic cooperation and global political issues, China's official Xinhua news agency reported.

Hu described China and the EU as "two important forces" whose cooperation was essential for world peace.

Additional agreements are expected on issues including maritime transportation and environmental protection.

Blair and his delegation will remain in China through Tuesday and head to India Wednesday.

On photo: Peter Mandelson.

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