At its recent board meeting in Brussels, industry association Euratex president Alberto Paccanelli issued an urgent appeal to European and national authorities to support companies who face a massive increase in their energy costs.

“The cost of energy, in particular gas, has increased more than three times since the beginning of this year,” he said.” Since the announcement of the EU’s Fit for 55 package, we have seen CO² prices rising above €60. This inevitably has an impact on our competitiveness, especially in a global context.”

Euratex is asking for immediate measures which can alleviate the burden of these energy costs, e.g. by reducing VAT on energy bills. In the longer run, the EU should develop a smart strategy towards ensuring long term sustainable energy supply, at reasonable cost for the industry. If this is not considered, any attempt towards developing a new EU Industrial strategy will be meaningless, since competition with third countries will be devastating.

“The upcoming EU Textiles strategy is an excellent opportunity for the European Commission to demonstrate its vision to develop a sustainable and competitive textiles industry in Europe,” said Paccanelli. “Access to affordable energy supplies must be an integral part of it.”

With around 160,000 companies employing 1.5 million workers, the EU’s textile and clothing industry is an essential pillar of the local economy across many regions. With over €62 billion of exports, the industry is a global player successfully commercialising high added value products on growing markets around the world.

Working together with EU institutions and other European and international stakeholders, EURATEX focuses on clear priorities – an ambitious industrial policy, effective research, innovation and skills development, free and fair trade, and sustainable supply chains.

www.euratex.eu