EU duty-free market brings hope to African textile industry

According to the Swaziland Times, the textile industry of Swaziland (a landlocked country in southeastern Africa) is seeking to establish the largest economic cooperation agreement with the European Union. This agreement will allow foreign entry products to be tax-free.

Swaziland is applying for EU assistance and hopes that the EU can immediately adopt this economic cooperation agreement. The EU South Africa Development Committee revealed that once the economic cooperation agreement is approved, the countries in the agreement will immediately benefit from the exchange of goods across the border. The EU delegation that decided to adopt the aid agreement to Swaziland will hold a seminar in Mbabane, the capital of Swaziland. This seminar will discuss the future income distribution of each member country under the agreement.

Through this agreement, Swaziland will become more competitive and more attractive to investors, because investors can enter the EU market through investment in Swaziland. This agreement will open up 9,600 types of products to enter the EU, and all of these imported products will be duty-free. It is worth mentioning that this agreement is a permanent trade agreement.

Since Swaziland was excluded from the US government’s aid list to Africa in January 2015, the country’s textile industry has been greatly impacted. The signing of this agreement is undoubtedly a timely help for Swaziland’s textile industry. .

This approach of Swaziland has reference significance for African countries whose textile industry is on the decline. The EU’s duty-free market is also very attractive to small and medium-sized countries. The EU duty-free market brings hope to the African textile industry

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