Euratex hails EU-US trade & investment negotiations

15 Feb '13

2 min read

EURATEX welcomes the joint decision taken by EU and US Authorities to start the negotiations to conclude a Comprehensive Trade and Investment Agreement. As signalled by EURATEX President Mr. Alberto Paccanelli, “These are very positive news in a moment the EU Textile and Clothing Industry is relying on Exports as an engine for growth. Being the US one of our key priority markets we are confident that this agreement will substantially increase our trade and investment flows.”

We recall that the US ranks among the top 5 Export destination markets for the EU Textile and Clothing Industry with our Exports amounting to more than 3,8 billion €.

Even if the Trade Balance is already positive for the EU T&C Industry we believe that are important gains to be drawn for this agreement. As Mr. Paccanelli stated “There are a lot of areas where we can improve trade and business between the EU and the US. For our sector tariffs are still high in the US- in some cases above 16%-and in the regulatory field we should work towards harmonization as a way to facilitate trade and reduce the costs for companies in both sides of the Atlantic”.

EURATEX has submitted already detailed comments on the areas that should be discussed in order to improve trade and business relations between the EU and the US.

EURATEX

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