Home / Knowledge / News / Textiles / EU's trade deal with Central American nations takes effect
EU's trade deal with Central American nations takes effect
02
Aug '13
A trade agreement between the EU on one side and the Central American nations of Honduras, Nicaragua and Panama on the other has set into motion from August 1, 2013.
 
The trade agreement, which was part of an Association Agreement signed in 2012, has opened up markets and is likely to create a stable business and investment relation between the European countries and Central America.
 
The comprehensive trade part of the agreement opened up markets for goods, public procurement, services and investment on both the sides.
 
"The Association Agreement is a proof of the EU’s interest and involvement in Central America, the benefits would not only be economic but would bring a positive impact on political integration as well," Karel De Gucht, the EU Trade Commissioner, said in a statement.
 
The agreement would reinforce economic integration and promote sustainable development in the regions, as well as set up institutions to tackle trade related issues and provide a transparent way to settle trade disputes.
 
The agreement would create a stable business and investment environment based on predictable and enforceable trade rules which, in many instances, go further than the commitments the parties have made in the World Trade Organization (WTO).
 
The EU is Central America's second largest trading partner. In 2012, the total trade flows in goods amounted to €14 billion, including approximately €1.4 billion worth of trade with Honduras, €1.2 billion with Panama and €0.4 billion with Nicaragua.
 
As per the ‘marking and labeling’ part of the agreement, textiles and clothing items would need to have the information on fibre content, country of origin, safety instructions for specific uses and care instructions. Both the parties have to adhere to this provision within one year from the entry into force of the Agreement at the latest.
 

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 26th Jul 2017

Textile Corp of America to create 1000 jobs in Tennessee

Textile Corporation of America Inc, a leading textile manufacturer,...

Courtesy: IVL

Textiles | On 26th Jul 2017

IVL completes PTA capacity expansion in Europe

Indorama Ventures Public Company Ltd (IVL), a global chemical...

Textiles | On 26th Jul 2017

Vietnam’s textile & garment exports cross $13bn in H1

Vietnam earned $13.... billion from textile and garment exports in...

Interviews View All

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X