Euratex: Revamped EU Industry Strategy welcom...

Revamped EU Industry Strategy welcomed

Source: Pixaby
Source: Pixaby

Europe’s industry is going through turbulent times as a result of the corona-pandemic; turnover in the textile and apparel sector dropped between 10 and 20%. However, even bigger challenges lie ahead: serious disruptions in supply chains, soaring energy prices and protective tendencies are threatening the competitiveness of the textile and apparel industry.

Against that background, the revised EU Industry Strategy is addressing very relevant issues and underlines the need to think carefully about Europe’s industrial base.

The European Apparel and Textile Confederation (Euratex), Brussels/Belgium, welcomes the initiative, including the focus on 14 “eco-systems” and the proposal to develop privileged partnerships with trusted partners. At the same time, the federation calls for more consistency by the EU across its different policy areas.

Looking at the global perspective, Euratex is not calling to close the European borders. But clearly, there is a need to establish global rules to ensure fair competition, and make sure these rules are properly implemented and controlled. Also the proposal to address distortions caused by foreign subsidies in the single market, should be welcomed in this context.

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