Taiwan Textile Federation (TTF) has recently inked a Memorandum of Understanding (MoU) with the European Textile and Clothing Confederation (EURATEX). This deal is likely to aid clothing producers both from Taiwan and Europe to strengthen their competitiveness in China and in other world markets.

TTF Chairman William Wong and EURATEX Chairman Dr. Peter Pfneisl signed this MoU on behalf of their respective organizations.

European Union which now is considered to be the world’s biggest trading bloc for textiles and apparel has an annual turnover of ?500 billion. EU’s textile and apparel sector, employs more than two million employees in 128,000 units and each year produces apparels and textiles worth over ?00 billion.

EURATEX, having its head office in Brussels, Belgium is the only organization that represents the EU’s textile and apparel industry. EURATEX chief, Pfneisl who visited the Taiwan Innovative Textile Application Show (TITAS) last year, was amazed by the growth of Taiwan`s innovative textiles.

Aiming to extend assistance to domestic textile and apparel producers, TTF has been considering tie ups with its international counterparts, and pursuant to same has inked MoUs with textile organizations in Vietnam, South Korea, China, India, Bangladesh and Indonesia.

The MoU between TTF and EURATEX necessitates fortification of mutual alliance with regards to trade and investment, setting up of effective communication links and early-warning systems for trade facilitation, regulation, overcoming trade barriers, conserving the intellectual property rights and also to tackle the issues of illicit and unfair trade practices.

 

 

source:Fibre2fashion News Desk - India