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EURATEX hails EU initiative on impact of foreign subsidy

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)

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