EURATEX has been actively engaged in the negotiation process to ensure an agreement fit for textile and clothing companies, also preserving social and environmental standards in the manufacturing of high-quality products. “Despite a challenging trade environment, we are glad rules-based trade has prevailed” stated Alberto Paccanelli, EURATEX President.

The EU-Mercosur FTA is the largest trade agreement ever concluded by the European Union, covering a population of 780 million. According to the EU, this agreement will save European companies over 4 billion euros in duties. For the textile and clothing industry in particular tariffs have been very high, reaching 35% in Brazil.