Page 12 - TEXtalks. November- December 2023

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Euratex demands incentives to

pursue sustainability

The Euratex textile industry trade body of the EU has unveiled a manifesto of actions it desires from the
European Union (EU) to ensure the sector remains competitive amidst growing demands for sustainability.
The manifesto asks for financial incentives and standard requirements for innovative new sustainable textile
products because they often carry a price premium as they are scaled up.

The wish list was published by Euratex ahead of next June’s European Parliament elections. It reminded
policymakers that Europe’s textile and apparel industry accounts for 192,000 companies employing 1.3
million workers with a turnover of €167 billion and over €67 billion of exports. It states that sustainable textile
products typically come at a premium price, making it difficult for many consumers and buyers to purchase
such products. Public authorities should also implement green public procurements by increasing the
importance of sustainability criteria in their evaluation grids.

Euratex urged the industry and policymakers to work together on a mix of coherent policy measures and
initiatives to offer a transparent and predictable framework to help make companies more resilient and
competitive. It urged developing a “smart” EU industrial policy to enhance competitiveness instead of
creating administrative burdens and to promote education, jobs, and innovation while providing access to
sustainable energy at lower prices.

Bangladesh apparel exports to

the US slipped 24.75%

Between January and October, Bangladesh apparel exports to the US reached US $6.35 billion, slipping
24.75 percent year on year, data from the US Department of Commerce’s Office of Textiles and Apparel
(OTEXA) said. Bangladeshi garment overseas shipments to the US in the first ten months of 2023 dropped
higher volume-wise, at 29.51 percent from a year ago to 1.95 billion square meters.

In October alone, Bangladesh's clothing exports to the US declined by a significant 36.50 percent yearly to
$578.35 million. Bangladesh was the third biggest exporter of garments to the US, with a share of 9.54
percent in the first ten months of 2023, while China was first at 20.71 percent and Vietnam
second at 18.01 percent.

Overall, US clothing imports worldwide declined 22.71 percent to $67.26 billion between January and
October 2023, compared to $87.03 billion in the same months of the previous year.

November/December 2023