Home / Knowledge / News / Apparel/Garments / EURATEX hails EU initiative on impact of foreign subsidy

EURATEX hails EU initiative on impact of foreign subsidy

01
Oct '20
Pic: Shutterstock
Pic: Shutterstock
The European Apparel and Textile Confederation (EURATEX) recently welcomed the European Union (EU) consultation on the impact of foreign subsidies on the EU internal market and called for a comprehensive instrument that guarantees a level playing field and fair reciprocity between EU and third country competitors, but is not protectionist and does not discourage foreign investment.

The distortive effects of subsidies provided by non-EU governments have jeopardised the competitiveness of many EU textile and apparel companies, EURATEX said in a press release.

These foreign subsidies could distort the internal market, specifically the general market activity of economic operators in the EU, the acquisitions of EU undertakings, public procurement procedures and access to EU funding.

The European Commission proposal to create a new legal instrument to address these challenges is therefore very much welcomed, it said. In its contribution to the public consultation on the matter, EURATEX emphasised that the EU proposal needs to be as comprehensive as possible, both in its scope and in the redressive measures it proposes.

The new legal instrument should take into account provisions already available in e.g. EU competition law, trade defence instruments (TDIs) and the international procurement instrument. Consistency and complementarity with other EU tools is key, EURATEX added.

Fibre2Fashion News Desk (DS)


Must ReadView All

Rajive Ranjan (left), Managing Director, Techno Design GmbH and Technocian Fashions, with Oliver Hein, COO, s.Oliver Group. Pic: PDS Multinational Fashions Limited

Apparel/Garments | On 2nd Dec 2021

PDSMFL (BSE:538730) to source for s.Oliver from India, Sri Lanka

India-based PDS Multinational Fashions Limited (listed on Bombay...

US President Joe Biden. Pic Palinchak | Dreamstime.com

Retail | On 3rd Dec 2021

American families have more money in their pockets: US President

Even after accounting for rising prices, the typical American family...

Pic: American Clothes Retail © Arne9001 | Dreamstime.com

Retail | On 3rd Dec 2021

Nearly 180 mn shop over Thanksgiving holiday weekend in US: NRF

Nearly 180 million Americans shopped during the five-day holiday...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Luxury is not just about high prices but ability to create desire

Textile Industry, Head honchos

Textile Industry
Head honchos

Quality & affordability to affect market acceptability of new fibres

Textile Industry, Head honchos

Textile Industry
Head honchos

Good tidings expected for textile industry

Harleen Kaur,

Harleen Kaur

Established in 2017 and headquartered New York, the label Harleen Kaur...

Kriti Kanodia,

Kriti Kanodia

A TV show in 2012 where actor Sonam Kapoor customises her own pair of...

Benedetta Terraneo,

Benedetta Terraneo

Miko Srl, a subsidiary of US-based Sage Automotive Interiors and a member...

Shujaul Rehman, Garware Technical Fibres

Shujaul Rehman
Garware Technical Fibres

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Shaan Sethi, Jaanuu

Shaan Sethi
Jaanuu

Jaanuu, a vertically integrated e-commerce company, has reimagined the...

Kevin Young & Tom Lucas, Web Industries

Kevin Young & Tom Lucas
Web Industries

Web Industries is a precision formatter of nonwoven materials used in baby ...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali
Kalaneca

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

Carmen Emanuela Popa, Label - Carmen Emanuela Popa

Carmen Emanuela Popa
Label - Carmen Emanuela Popa

<b>Carmen Emanuela Popa,</b> a Romanian fashion designer, is known for her ...

Samant Chauhan, Label Samant Chauhan

Samant Chauhan
Label Samant Chauhan

Delhi based fashion designer, <b>Samant Chauhan</b> who mostly works on...

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

Leave your Comments


December 2021

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


Advanced Search