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Supply chain disruptions, price threaten industry’s competitiveness


Supply chain disruptions, soaring emerging prices and protective tendencies are threatening the competitiveness of global textile and apparel industry, says Dirk Vantyghem, Director General, Euratex. Launched on May 5, the European Union’s newly-revised Industry Strategy underlines the need to think carefully about Europe’s industrial base and develop privileged partnerships with trusted partners, he adds.

The strategy also calls for more consistency by the EU across different policy areas, Vantyghem says. He urged the industry to welcome EU’s proposal to address distortions caused by foreign subsidies in the Single Market. The EU textile and clothing industry includes160, 000 companies employing 1.5 million workers and over € 61 billion of exports. Euratex works to create a favorable environment for the development of textile and clothing products within the European Union.