Home / Knowledge / News / Apparel/Garments / Garment sector major beneficiary of EU GSP

Garment sector major beneficiary of EU GSP

14
Feb '20
Pic: Shutterstock
Pic: Shutterstock
Garment sector benefitted the most from the EU Generalised System of Preferences (GSP) in 2018, according to the third biennial GSP report released by the European Commission. Exports to the EU from the 71 GSP beneficiary countries increased to almost €184 billion during the two-year period, with €69 billion of these using GSP special preferences.

EU buyers are introducing new business models for garment industry. With implementation of higher environmental and labour standards, companies will be more competitive. The implementations of agreements can be well seen in projects like ‘SMART Myanmar’ which promotes sustainable consumption and production of garments, the report submitted to the European Parliament and the Council said.

Utilisation of trade preferences under GSP has gone up to 81.8 per cent in 2018 (78.8 per cent in 2016). For Everything But Arms (EBA), this was 93.4 per cent, and the benefits taken are largely in the garment sector, as export diversification remains a challenge, the report said.

EU importers and industry present in the GSP beneficiary countries support the sustainable development agenda and can play a positive role, notably in promoting labour reforms and occupational health and safety, according to the report. Exporting industries, for instance in Pakistan, Bangladesh, Myanmar, and Sri Lanka are keen to meet international standards. This is a direct result of (European) buyers insisting on responsible supply chains, and has a broader impact on the countries.

GSP eliminates import duties on developing countries exporting to EU, by generating additional export prospects. This provision helps the benefitting country to tackle issues like poverty and create job pool. The report shows how countries like Bolivia, Sri Lanka, and Mongolia are managing the issues of child labour. 

The Report on the Generalised Scheme of Preferences covering the period 2018-2019 considers how the GSP countries are using the scheme for their benefit. The report inspects and takes into consideration issues like tackling of child labour, environmental concerns, and freedom of civil society. Beneficiaries using GSP are supposed to simultaneously use trade and values to make advancement.

Fibre2Fashion News Desk (DD)


Must ReadView All

Pic: Shutterstock

Textiles | On 26th Feb 2020

Bangla Tariff Commission fears grave impact on China trade

The impact of the coronavirus outbreak on Bangladesh-China trade is...

Pic: Shutterstock

Textiles | On 26th Feb 2020

UK risks losing up to 14% of exports to EU if no deal: UN

Non-tariff measures could cause major fractures in post-exit UK-EU...

Pic: Shutterstock

Textiles | On 26th Feb 2020

Turkey's textile industry employs 1.67 mn: minister

Turkey's textile and garment industry currently employs around 1.67...

Interviews View All

Manfred Mentges, Sedo Treepoint GmbH

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Headhonchos, Indian fashion industry

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Akash Khetan, Narayan Tex Fab

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Jash Choraria,

Jash Choraria

Established in 2015 by <b>Jash Choraria</b>, Unifynd is a Mumbai-based...

Suresh P Bagrecha,

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Kalai Selvi,

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Giorgio Mantovani, Corman S.p.A

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Ray Baughman, University of Texas -Dallas

Ray Baughman
University of Texas -Dallas

<div>A team of scientists and researchers have discovered twistrons,...

Johann-Philipp Dilo, Dilo Group

Johann-Philipp Dilo
Dilo Group

German company Dilo Group is one of the leading equipment suppliers of...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

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

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

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


February 2020

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


Advanced Search