Textile groups back ‘essential’ Mercosur-EU deal
The Argentine Textile Industry Federation (FITA), the Brazilian Textile and Apparel Industry Association (ABIT), and the European Apparel and Textile Confederation (EURATEX) have stated that the agreement is “essential” for the competitiveness of their industries on either sides of the Atlantic.
The deal establishes a free trade area between the EU’s 27 member states and four Mercosur countries namely Argentina, Brazil, Uruguay, and Paraguay, by removing tariffs on over 90% of EU exports.
In 2024, the EU exported €57bn in goods to Mercosur, making it Mercosur’s second-largest trading partner.
In their latest joint statement, FITA, ABIT, and EURATEX expressed confidence that the partnership’s strategic value would “prevail” in spite of its submission to the Court of Justice of the European Union.
The organisations said the agreement signals a commitment to economic integration, predictable rules for business, and support for multilateral cooperation.
They also reaffirmed their commitment to actively contribute to implementing the deal and to pursue further actions that consolidate both regions as key players in global trade.
The EU’s textiles and apparel sector consists of around 200,000 companies employing 1.2 million workers, with annual turnover reaching approximately €170bn.
In Brazil, 25,700 businesses employ about 1.3 million people and generate $40.9bn in turnover. Argentina’s sector includes 4,000 companies with 540,000 workers along its value chain.
“The Mercosur-European Union Partnership Agreement offers the textile and apparel industry opportunities related to market access, technological cooperation, investment, strengthening of environmental standards for countries in both economic blocs,” the joint statement reads.
“Textile groups back ‘essential’ Mercosur-EU deal” was originally created and published by Just Style, a GlobalData owned brand.
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