EURATEX aims at making the provisions laid down in FTAs the most accurate and fit to the textile and clothing sector. Free Trade Agreements are indeed essential to textile and clothing companies to find business opportunities, foster investments and boost exports.
FTAs under implementation
EU-Canada CETA (Comprehensive Economic and Trade Agreement) entered into force provisionally in 21 September 2017.
For the T&C industry is a solid market, given that in 2019 exports amounted to almost €900 million and between 2018 and 2019 it saw a growth of 7.4%.
The EU-South Korea FTA entered into force in 2011.
From the first staggering figures, the EU trade balance with South Korea is getting back to a more balanced position. This is due to more dynamic EU T&C exports ( 3.4%) mainly driven by exports of clothing ( 10.9%).
The EU-Vietnam FTA entered into force in August 2020.
Though the trade balance is in favour of Vietnam, exports of both the textile and clothing industries has been slightly increasing in the past years.
FTAs under negotiation
FTA waiting for ratification
EURATEX supports the advancements made by President von der Leyen to discuss removal of tariffs on industrial goods with the USA. Nevertheless, talks are not moving and EURATEX has been pushing for an agenda solving the impasse. These represent an important opportunity to facilitate trade and regulatory cooperation to the mutual benefit of European and American companies, particularly SMEs. Moreover, EURATEX and other EU are calling to set divergencies on the Airbus-Boeing dispute at WTO and resume talks. The ongoing despite is creating a negative framework.