The World Trade Organization (WTO) is an international body, the purpose of which is to promote free trade by persuading countries to abolish import tariffs and other barriers. It has little by little become closely associated with globalisation. The WTO is the only international institution supervising the rules of world trade. It rules the free trade agreements, controls trade disputes between states and organizes trade negotiations. The WTO was created in 1995 and is based in Geneva. It is the successor of another international organization: the General Agreement on Tariffs and Trade (Gatt) which was set up by 23 countries in 1948 to reduce customs tariffs. The WTO agreements have been negotiated and signed by the majority of the world trading nations and ratified by their parliaments. It counts around 150 countries nowadays.
[...] It has both positive and negative impacts on the European textile and clothing sector. It promotes global economic growth, creates jobs, makes companies more competitive, and lowers prices for consumers but it also already suppressed thousands of jobs in Europe, as well as firms and has decrease the textile production and its turnover. The European textile firms will have to insist on their competitive advantages which are a quicker adaptation to the new technological revolution, become more productive, or they will have to outsource and delocalize a part or their entire production processes or set up their company in the developing countries, but this would lead to jobs loss in their country. [...]
[...] The completion of the WTO free trade agenda will produce both winners and losers in the EU what extend do you agree? Content Introduction on the WTO and its Free Trade Agenda. Te European textile sector II) The consequences of the Free Trade Agenda on the European textile sector. The positive aspects for the EU The negative aspects for the EU Conclusion Introduction The World Trade Organization (WTO) is an international body, the purpose of which is to promote free trade by persuading countries to abolish import tariffs and other barriers. [...]
[...] As a result, the textile sector is increasingly subject to the pressures of globalisation, a major driver of change within the sector. So Europe has to face a competition all the more important from China. The advantage of European products is that they generally have a strong image and a positive quality mark-up. Indeed, the EU industry has a leading role in the development of new products, such as technical textiles. What interest us more in this study is the trade between the EU and China. [...]
[...] T-shirt production in Greece was down by 12 per cent, and in Portugal the drop ranged between 30 and 50 per cent. In Italy, apparel sales for March were nearly 13 per cent lower, while orders fell by 20 per cent. It is all the more alarming as they these countries are heavily dependent on textile and clothing trade export. According to the Spanish textile council “Consejo Intertextil Espanl” the Spanish textile industry will lose 20,000 jobs or 9 percent of total employment this year while the production is expected to fall by Nowadays, this sector employs around 2 millions people in Europe, which represents less than in 1990. [...]
[...] The European textile sector The European Union is an enormous agent of the trade exchange as far as the textile and clothing sector is concerned, as well as the USA and China. The European Union clothing and textile industries are characterized by very intense international competition. EU producers have to face a savage competition from exports of new industrialized countries with low wages and social charges, giving them a significant competitive advantage. The textile and clothing industry is an important part of the European manufacturing Industry with a turnover of 200 billion produced in 177.000 enterprises, mainly small and medium-sized enterprises (SMEs). [...]
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