Fair and sustainable trade essential for Euratex strategy

Euratex has responded to EU consultation on trade policy review, offering 60 specific points, which will help develop an open but sustainable trade system, guaranteeing level playing field in Europe. The EU should invest in an ambitious regional agenda, focusing on partners such as Euromed and US, and in multilateral efforts, in particular within WTO.

 

Euratex has responded to EU consultation on trade policy review, offering 60 specific points, which will help develop an open but sustainable trade system, guaranteeing level playing field in Europe. The EU should invest in an ambitious regional agenda, focusing on partners such as Euromed and US, and in multilateral efforts, in particular within WTO.#

In this rapidly changing and multi-polar world, facing an unprecedented health and economic crisis, European businesses need a stable and transparent global framework. Euratex therefore welcomed the review of the EU’s trade policy. It is an opportunity to shape a modern strategy which supports Euratex’s companies in prospering at global level.

 

Euratex has responded to EU consultation on trade policy review, offering 60 specific points, which will help develop an open but sustainable trade system, guaranteeing level playing field in Europe. The EU should invest in an ambitious regional agenda, focusing on partners such as Euromed and US, and in multilateral efforts, in particular within WTO.#

Euratex stated in a release that the European textiles and clothing (T&C) industry is globalised, with complex value chains and inter-dependencies with many other sectors. T&C companies annual exports exceed €60 bn and imports well over €100 bn. And 38 per cent of the industry’s turnover is sold on global markets, whereby SMEs are particularly active (covering more than 50 per cent of those global sales).

 

Euratex has responded to EU consultation on trade policy review, offering 60 specific points, which will help develop an open but sustainable trade system, guaranteeing level playing field in Europe. The EU should invest in an ambitious regional agenda, focusing on partners such as Euromed and US, and in multilateral efforts, in particular within WTO.#

On that basis, Euratex emphasised the following points: it needs open and efficient markets, but combined with effective controls where necessary, thus ensuring level playing field for European companies; it needs complementarity between the EU’s Trade and Industrial strategy, leading to increased resilience, eg through better access to raw materials and stockpiling of strategic goods; it needs an ambitious regional agenda, focusing on important partners such as US, Turkey, Switzerland and the Euromed region, but also open to new partnerships in Africa; it needs to invest in multilateral efforts, thus supporting WTO efforts to work on subsidies, public procurement, IPR, etc; it needs to act beyond the conclusion of an FTA: ratification must be faster, and implementation of an agreement must come with information efforts and support to European SMEs, as part of a genuine European Economic Diplomacy strategy; it needs a more sustainable and fair trading system, based on rules, global environmental and social standards, which are effectively respected by all; and it needs a modern trade policy, setting rules for new forms of trade such as e-commerce, and embracing the digital opportunities.