Euro Mediterranean Update nr. 3, 2021
Turkey
- İstanbul Fashion Connection
- Turkish textile workshops often run on low wages and refugees
- Turkish inflation shoots to almost 18%
- Turkey’s Economic Crisis Batters Retailers, Boosts Apparel Exports
Other
- Kledingbedrijven verhuizen van China naar Marokko
- Fashion companies from Moldova participate in online matchmaking
EU-UK: Brexit
- Many changes for entrepreneurs as of 1 January 2022
- Brexit Adjustment Reserve - Ministry of Economic Affairs and Climate
- NL-UK trading relationship - state of Play
Turkey
İstanbul Fashion Connection 9-11 February
Please click here to read more on the Istanbul Fashion Connection.
Turkish textile workshops often run on low wages and refugees
In recent years – with the exception of the corona year – more and more clothing has been imported from Turkey to the Netherlands and the rest of the EU. But what about working conditions in Turkey's textile sector? Dutch newspaper Het Financieele Dagblad took a look. Read more (you may need a login to read the full article (in Dutch)).
Turkish inflation shoots to almost 18%
Inflation in Turkey has risen even more than expected. Consumer goods prices rose 17.5% in June, it was announced Monday. Economists polled by Bloomberg news agency expected a percentage of 16.8%. A month earlier, inflation was still 16.6% on an annual basis. Turkey eased measures against the spread of the coronavirus last month after a drop in new cases. That boosted consumer confidence. Read more (you may need a login to read the full article (in Dutch)).
Turkey’s Economic Crisis Batters Retailers, Boosts Apparel Exports
The country’s currency, the lira, has lost almost half its value against the dollar so far this year, and inflation is rising precipitously. Analysts say Turkish President Recep Tayyip Erdogan’s unorthodox economic policies are causing the growing economic crisis, which is impacting both the fashion retail and manufacturing sectors. The President is pushing an agenda of lower interest rates that he says will boost exports and cause inflation to come down. Turkey’s central bank cut interest rates to 15 percent on Nov. 18, its third rate cut since September that came despite inflation running near 20 percent in October. The first half of that equation seems to be bearing some fruit, with data from the Turkish Statistical Institute released last week showing in the January to October period, Turkey exported apparel worth $15.12 billion, representing a rise of 25.72 percent year-on-year reprts Business of Fashion. Read more (you may need a login to read the complete article).
Other
Kledingbedrijven verhuizen van China naar Marokko
Door de opkomst van de Deltavariant in China en Vietnam, verlaten verschillende grote kleding- en schoenenbedrijven de twee landen om te verhuizen naar landen die dichter bij hun winkels zijn. Ze gaan naar de VS, Europa of nog Marokko, meldt Bladna. Lees meer>>
Fashion companies from Moldova participate in online matchmaking
No fewer than sixteen fashion brands from Moldova and Belarus active in women's clothing have been able to get acquainted with the European market in recent months. The participants from Eastern European countries were able to promote their clothing to Dutch buyers and importers via an online matchmaking platform. The event, set up by CBI (Centre for Promotion of Imports from Developing Countries) and Export Partner, has resulted in a number of interesting contacts, FashionUnited reports. Read more (if you click through, the article is written in Dutch).
Production in Poland (offer)
We are “DAPS Inż. Dariusz Szeps” company from Poland, which provide services of sewing women’s clothing (dresses, blouses, skirts, jackets, pants etc.). We cooperate with large international corporations (Orsay GMBH, LLP. S.A, Gerry Weber). Our company is distinguished by 30 years of experience, quick time of order completion, modern machines, short delivery time, guaranteed quality, low transport costs, location-EU. We are looking for partner in the Netherlands (manufacturer) for long-term cooperation. If you are willing to have your products to be sewn in the European Union and to check our company’s presentation, please feel free to contact us via: Antonio Barberi Ettaro.
EU-UK: Brexit
Many changes for entrepreneurs as of 1 January 2022
MKB-Nederland and VNO-NCW, evofenedex and the Dutch-British Chamber of Commerce (NBCC) call on entrepreneurs to prepare well for the new import rules and border controls with the United Kingdom, which will apply from next year, writes Dutch source Wonen360. “On 1 January 2022, Brexit will officially be one year behind us. For companies, this means that, among other things, the deferred customs declaration for import flows to the United Kingdom will come to an end and that full customs declarations and checks will be introduced. It is wise to read carefully into these new rules and to prepare in time."
Second phase BOM
The UK has chosen to phase in import rules and border controls via the Border Operating Model (BOM). This is done in three phases. Since January last year, there have been rules and checks on a limited group of products – the so-called controlled list. This was an attempt to limit customs formalities in the first year after Brexit, in order to avoid delays at the border. This will change as of 2022: then the second phase of the BOM will start and the obligation for a fully completed British import declaration will apply. The third and final phase of the BOM will take effect from July 2022.
BAR
To mitigate the impact of Brexit on member states, the European Commission has created the Brexit Adjustment Reserve (BAR). From this fund, member states receive an amount that can be used for various purposes, such as creating jobs, taking border measures and a financial compensation for entrepreneurs who have had to incur extra costs in preparing for Brexit. Due to its location and close trade relationship with the UK, the Netherlands can lay claim to a substantial part of the BAR: 810 million euros. MODINT advises their members to continue to closely follow the regulations in the UK, to coordinate with the British importer in good time and to use the compensation options of the BAR in the coming year and to provide insight into costs already incurred.
Brexit Adjustment Reserve - Ministry of Economic Affairs and Climate
Please click here to read the presentation held in November on EU-VK relation. It was organised by VNO-NCW.
NL-UK trading relationship - state of Play
Please click here to read the presentation of NBCC held on 26th November on the trading relationship between NL and the UK.
