EU-Mercosur FTA opens opportunity for textiles industry
Euratex welcomed end of negotiations for a Free Trade Agreement (FTA) between EU and Mercosur (Argentina, Brazil, Paraguay and Uruguay). The EU-Mercosur FTA is the largest trade agreement ever concluded by the European Union, covering a population of 780 million. This agreement will save European companies over 4 billion in duties. For the textile and clothing industry tariffs have been very high, reaching 35 per cent in Brazil
Textile care label key in European buying decisions
Europeans appreciate their clothes and wish to keep them for as long as possible; they are concerned about the durability of their clothing and pay great attention to their care instructions; and for a vast majority, the textile care label plays a crucial role in the purchase decision, according to results of the second European Barometer for 2019. Seventy per cent respect their textiles labels guidelines; eight out of ten consider the textile care label useful; and, seventy-five per cent would never (or rarely) buy a garment without care instructions. Paris-based GINETEX, the International Association for Textile Care Labelling, conducted the survey in France, the United Kingdom, Germany, Italy, Sweden, the Czech Republic and Spain.
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German textile short-time work
Short-time work in German industry has been concentrated in eight sectors to date, according to a survey by think-tank IFO Institute. A quarter of companies in the textiles sector and 18 per cent of firms in the leather, leather goods, and footwear sectors have introduced short-time work. The average for the German manufacturing sector is 3.8 per cent. Industries that are important for Germany, such as automotive, mechanical engineering, and chemicals, will be hit harder.
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