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Business

German Retailers Angry With EU

An association of German retailers warned Friday that it might demand monetary compensation from the European Union if Chinese-made garments currently blocked in EU

ports are not released. "If the problem is not resolved by the end of next week, and if the merchandise has not left the warehouses, we will act," declared Rolf Pangels, head of the BAG federation, which represents large and medium-sized retailers. He said the federation could seek damage compensation and interest on behalf of textile importers, adding that BAG is "confident of the chances of success for such a complaint." Another retail federation, HDE, which groups all players in the textile sector, is predicting "the first bankruptcy announcements by small and medium-sized importers of Chinese merchandise" in the coming days, said HDE vice president Klaus Magnus. Millions of Chinese-made garments, shipped to the EU in excess of 2005 import quotas, are being held up by EU customs authorities. EU and Chinese government officials met Friday in Beijing to resolve the crisis.

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