Sep 22, 2016
Euratex & JTF bat for conclusion of EU-Japan FTA
Sep 22, 2016
A trade deal between the European Union and Japan would expand trade and investment in textile and clothing industry between the two, textile bodies from both parties have said. Both the EU and Japan are taking leading roles in developing high technology and quality of fibres and fabrics, as well as in creating high value added fashion apparel.
Both the EU and Japan are key export markets for their respective textile and clothing industry. For EU, Japan is the 7th largest textile and apparel export market reaching almost €1.9 billion, while for Japan, the EU is the 3rd biggest export market reaching almost €0.7 billion.
The European Textile and Apparel Confederation (Euratex) and the Japanese Textile Federation (JTF) maintain excellent relationship and complementarity activities. Moreover, the trade structure of textile and garments between the EU and Japan is also complementary. Hence, both trade bodies believe that a free trade agreement (FTA) would expand the trade and investment in textile and clothing and promote further business development. It would also build platforms in various types of R&D cooperation, thereby creating new innovations and business opportunities, Euratex said in a statement.
Over the last years, both associations have discussed on the way to reach an agreement that will benefit companies from both parties. They recently agreed on major issues like tariffs elimination and rules of origin. “Our Japanese colleagues believe, like we do, that the rules should be adapted to the structure of our industries and that we both are best judges of what works for our industries. I am therefore very happy that we can share this Joint Statement and I urge the negotiators both sides to take it into due consideration,” said Euratex president Serge Piolat.
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