Stitching up the EU-Japan Trade Deal
Opinion article for EurActiv by Isabelle Weiler, 29 February 2016
After thirteen negotiating rounds, the ambitious target of finalising the EU-Japan Free Trade Agreement has now been set. The textile and fashion sector gives an example of what can be gained, writes Isabelle Weiler for EurActiv.
The textile and clothing sector is a growing industry worldwide. Operating in a very competitive environment, the EU and Japan are keeping the leading roles in the development of advanced technological materials and creating high quality fashion goods.
Both the EU and Japan are key export markets for the respective industries. For the EU’s textile and clothing sector, Japan is among the top ten largest customers with the exports reaching more than €1.8 billion in 2014. For the Japanese industry, the EU is the 2nd export market reaching almost €0.6 billion.
The trade structure between the EU and Japan textile and fashion industries is complementary, which is a rare advantage. The EU mainly exports clothing – and in particular deluxe products made from wool and silk, while it imports fibres and yarns from Japan.
Full article in EurActiv