Free, fair and sustainable trade is an essential component of EURATEX strategy

In this rapidly changing and multi-polar world, facing an unprecedented health and economic crisis, European businesses need a stable and transparent global framework. EURATEX therefore welcomes the review of the EU’s trade policy. It is an opportunity to shape a modern strategy which supports our companies in prospering at global level.

The European textiles and clothing (T&C) industry is globalised, with complex value chains and inter-dependencies with many other sectors. T&C companies annual exports exceed €60 bln and imports well over €100 bln. 38% of the industry’s turnover is sold on global markets, whereby SMEs are particularly active (covering more than 50% of those global sales).

On that basis, EURATEX emphasises the following points:

• We need open and “efficient” markets, but combined with effective controls where necessary, thus ensuring level playing field for European companies;
  

• We need complementarity between the EU’s Trade and Industrial strategy, leading to increased resilience, e.g. through better access to raw materials and stockpiling of strategic goods;
  

• We need an ambitious regional agenda, focusing on important partners such as United States, Turkey, Switzerland and the EUROMED region, but also open to new partnerships in Africa;
  

• We need to invest in multilateral efforts, thus supporting WTO efforts to work on subsidies, public procurement, IPR, etc.;
  

• We need to act “beyond” the conclusion of an FTA: ratification must be faster, and implementation of an agreement must come with information efforts and support to European SMEs, as part of a genuine European Economic Diplomacy strategy;
  

• We need a more sustainable and fair trading system, based on rules, global environmental and social standards, which are effectively respected by all;
  

• We need a modern trade policy, setting rules for new forms of trade such as e-commerce, and embracing the digital opportunities.