Fashion
EURATEX & 25 other groups call for quick EU-Mercosur FTA approval
Together, our members cover a significant portion of the total trade in goods and services of over 153 billion euros in 2024 between the EU and the Mercosur region, as well as the approximately 380 billion euros of mutual investment in our two regions in 2023. In this unprecedented time when the rules-based global order is being critically undermined, this free trade agreement represents a beacon in the EU’s diversification strategy. It is therefore a critical element in ensuring the EU’s long-term competitiveness.
Twenty-six European business associations, including EURATEX, have urged the swift ratification of the EU-Mercosur Partnership Agreement, calling it vital for Europe’s long-term competitiveness and global diversification.
The deal covers €153 billion in annual trade and €380 billion in mutual investment, with projected GDP gains of €77.6 billion for the EU and €9.4 billion for Mercosur by 2040.
By 2040, according to DG Trade’s calculations, the agreement is expected to add 77.6 billion euros to the EU GDP and 9.4 billion euros to the Mercosur GDP. At the same time, the agreement will result in a 39% increase in EU exports to Mercosur and a 17% increase in Mercosur exports to the EU.
The EU-Mercosur is a modern agreement, driven by modern principles. It will deliver increased market access and improved access to resources, while preserving key sectors in European domestic markets, diversifying secure supply chains, and fostering investments for both sides. It will also help us deepen our cooperation on sustainable development, in areas such as fighting climate change, preserving biodiversity, and advancing labour and social rights.
European businesses wholeheartedly support the EU-Mercosur Agreement and call on the Council and European Parliament to swiftly ratify the EU-Mercosur interim Trade Agreement (iTA) and the EU-Mercosur Partnership Agreement (EMPA). To this end, it is key to streamline the ratification process and to ensure timely completion and avoid procedural delays. This is a crucial opportunity for Europe which will support growth and prosperity for one-fifth of the global economy – benefiting about 750 million people.
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (KD)
“We designed this collection with parents in mind. Shopping for a newborn, as a gift or for your own, should feel joyful and easy. Everything is intended to be mixed together and matched — it’s fun, it’s emotional, and the value is incredible.”. – Sarah Holme, Head of Design & Product Development for Old Navy.
Old Navy has introduced Little Navy, a new collection of newborn essentials designed to simplify early-stage shopping and gifting.
The range includes layettes, hats, booties and mix-and-match basics in soft, seasonless colours and cosy fabrics.
Sized for babies up to 24 months, the line focuses on comfort, versatility, emotional appeal and strong value for modern parents.
Little Navy goes beyond onesies, offering layettes, hats, booties, and more, all in one convenient collection and no extra searching required. It features a soft, seasonless color palette, cozy fabrics, and versatile styles made for newborns and babies up to 24 months, with sizing that allows Little Navy to grow with baby.
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (RM)
They said bank audit procedures have stalled numerous applications. Around Tk 57 billion in incentives for the textile and apparel sector remain unsettled in fiscal 2025-26, creating acute liquidity pressure and affecting exports.
Bangladesh trade body BGMEA representatives recently met Finance Minister Amir Khasru Mahmud Chowdhury and urged him to release pending cash incentives without waiting for quarterly release schedules and simplify the disbursement process.
They said bank audit procedures have stalled numerous applications.
They also raised concerns over loan rescheduling and working capital.
The authorities were requested to disburse incentives upon application submission instead of waiting for quarterly release schedules, according to a release from the trade body.
BGMEA vice president Mohammad Shihab Uddoja Chowdhury raised concerns over loan rescheduling and working capital. He said banks often reschedule loans to maintain non-performing loan ratios, but fail to provide the working capital factories need to resume operations.
He proposed that banks pair rescheduling with working capital support to create a win-win outcome, allowing factories to operate and repay loans. The finance minister agreed with the proposal.
BGMEA leaders also called for business facilitation and lower operational costs to help Bangladesh remain competitive in the global market. They sought policy support to remove obstacles in customs, ports and other administrative layers and to ensure an investment-friendly environment.
Fibre2Fashion News Desk (DS)
Bangladesh think tank Centre for Policy Dialogue has called for major reforms in business environment, tax collection, trade deals and FDI management, cautioning that the country’s post-election economic transition may be at risk without evidence-based decisions and strong accountability.
A CPD study identified ‘leaking revenue’ as the weakest area across all decision-making indicators.
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