October 3, 2022
  • October 3, 2022

The European textile industry must develop on world markets: EURATEX

By on February 17, 2022 0
At the recent EU-Africa Summit, EURATEX reiterated the ambition of the European textile industry to increase its role in global markets, including the African continent. The textile ecosystem is considered the second most globalized sector of the European economy, built on globalized supply chains and competition with China, the United States, Bangladesh, Turkey and more.

Imports now peak at 115 billion euros (about 60% clothing and 40% textiles), with a dramatic increase in imports of medical textiles (face masks) in 2020. Each year, 22 billion pieces of textiles and clothes are imported. in the EU single market, EURATEX said in a press release.

Europe’s response to this competitive pressure must be to invest even more in quality and innovative products, produced in a sustainable way. As emerging markets evolve, the appetite for better quality, better comfort and better design will increase. The ability and willingness to purchase technical textiles, which offer durability and performance-enhancing solutions, will increase. This is where Europe can succeed. For example: EU exports to China increased by 33% in 2021 (first 11 months).

At the recent EU-Africa Summit, EURATEX reiterated the ambition of the European textile industry to increase its role in global markets, including the African continent. The textile ecosystem is considered the second most globalized sector of the European economy, built on globalized supply chains and competition with China, the United States, Bangladesh, Turkey and more.

In its vision document on the future of European textiles and clothing, EURATEX confirmed its ambition to increase the global market share of the European textile industry. Strengthening relations with neighboring Turkey and North African countries is important in this regard, offering opportunities for proximity. The African continent as a whole offers trade and investment opportunities, provided the business climate is stable and transparent.

Relations with the United Kingdom and Switzerland must be optimized; in particular, Brexit has caused serious damage to bilateral trade flows (-33% of exports to the United Kingdom from January to November 2021). The Mercosur FTA offers interesting opportunities for the European textile industry; it should be ratified as soon as possible. Europe must work with the United States on the mutual recognition of standards and the establishment of global environmental and social rules. The association has asked India to make an honest offer for the upcoming free trade negotiations, which will ensure full and fair access to the Indian market.

European textile and clothing companies (mainly SMEs) must be supported to exploit these market opportunities. At the same time, they must be protected against unfair competition, for example products that do not comply with strict EU standards and procedures. This requires more effective market surveillance.

“The future of European textiles is global; there are millions of potential customers, eager to take advantage of the high quality, durable products our companies can provide. The future European textile strategy must integrate this global dimension; not to do so would be a missed opportunity,” concluded Dirk Vantyghem, General Manager of EURATEX.

Fibre2Fashion (RR) News Desk