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The EU wants to limit ‘fast fashion’ imports
By 2030, the EU is planning a sustainable textile strategy to move as much as possible from both shop shelves and people’s wardrobes to recycling and reuse.
[ERR News]
Kenyan companies upset over new US duty-free access to Biden deal.
“The lobby says the cancellation of benefits under Agowa will threaten the collapse of Kenya’s textile industry, which supplies international fashion brands, and the country’s hopes of becoming a light manufacturing hub.
[The Standard]
India is considering setting up units to build expertise through FTAs.
“The Commerce Department is considering setting up special departments called ‘subject departments’ to develop expertise in industries such as services, agriculture, pharmaceuticals, business solutions and digital commerce as part of a more aggressive approach to free trade agreements,” Livemint reported. . India wants to negotiate agreements with other countries in the World Trade Organization from a strong point of view.
[Business Standard]
In 2023, trade growth will slow down significantly due to strong headwinds in the global economy
“WTO economists now forecast that global merchandise trade will grow by 3.5% in 2022—slightly better than the 3.0% forecast in April. For 2023, however, they forecast a 1.0% increase—down significantly from the previous estimate of 3.4%.
[World Trade Organization]
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