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Euratex to host conference on future of FTAs

Euratex, the European Apparel and Textile Confederation will be hosting the international textile and clothing conference on ‘Free Trade and International Agreements’ on June 5, 2014 in Brussels. The idea behind organizing this conference is to debate the free trade and international agreements’ influence on world markets of textile and clothing.

The confederation expects experts from the textile and clothing industry of countries like: Turkey, Korea, Africa, Japan, Canada, India, Brazil and Taiwan, to attend the conference. This year, Euratex is also celebrating 20th anniversary of the Marrakesh Agreement establishing the World Trade Organisation (WTO). In 2005, the textile and clothing sector became a subject in the general rules of the WTO and all restrictions were terminated after more than 40 years of trade with import quotas.

As per WTO data, the revenue from world textile and clothing exports, excluding intra-EU trade and re-exports, more than doubled between 2000 ($240 billion) to 2012 ($547 billion). Euratex indicates that the establishment of new global rules of trade between nations had an immense influence on the European Union that is the second largest world exporter of textile and clothing products.

The pace of globalisation was also quickened by multilateral trade negotiations of the General Agreement on Tariffs and Trade (GATT) and the increasing importance of the Free Trade Agreements (FTAs). Since the WTO creation, over 400 agreements covering trade in goods or services have been notified. Moreover, the number of ongoing FTAs negotiations launched by the EU has significantly increased. The confederation believes this is the right moment to evaluate the impact of the current and potential of FTAs on companies and SMEs in textile and clothing sector.


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