Background

EU wants to limit 'fast-fashion' imports

“The European Commission is developing a sustainable textile strategy to divert as many items as possible from both store shelves and people's closets into recycling and reuse programs by 2030. The EU is also planning to set a limit to ‘fast fashion’ import.”

[ERR News]

Kenyan firms fret over U.S. duty-free access in new Biden deal

“The lobby says scrapping of benefits under Agoa threatens collapse of Kenya's textile industry, which supplies global fashion brands, and the country’s nascent hopes of becoming a light manufacturing hub.”

[The Standard]

India considering forming units to build expertise in FTAs

“The Department of Commerce is considering the formation of dedicated units called ‘subject matter divisions’ to build expertise in industries like services, agriculture, medicines, trade remedies, and digital trade as part of a more aggressive approach to free trade agreements, Livemint reported. India wants to be able to negotiate agreements with other nations at the World Trade Organization from a position of strength.”

[Business Standard]

Trade growth to slow sharply in 2023 as global economy faces strong headwinds

“WTO economists now predict global merchandise trade volumes will grow by 3.5% in 2022—slightly better than the 3.0% forecast in April. For 2023, however, they foresee a 1.0% increase—down sharply from the previous estimate of 3.4%.”

[World Trade Organization]

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