EU-Africa Business Forum wants action for sustainable clothing sector
The declaration calls for the establishment of an “EU-Africa Ethical Clothing and Fashion Fund” for technology transfer and environmental, social and governance (ESG) support for capacity building and improved partnerships between value chain actors to advance ESG compliance.
It calls for the transfer of technology and knowledge, and the exploitation of the potential of advanced technologies and digital solutions for the traceability of performance and sustainability benchmarks, for small vulnerable actors.
The 7th EU-Africa Business Forum 2022, jointly organized by the African Union (AU) Commission, the European Union (EU) and European business organisations, recently launched the Joint EU-Africa Business Statement to Influence policy-making and business activities, and reconcile concrete actions for a sustainable fashion and textile industry of the future.
It also calls for supporting small and medium-sized enterprises (SMEs) in a comprehensive green transition towards sustainable value and supply chains, for those not yet ready, by financing measures in production processes and reducing trade barriers according to an official press release.
There is also a clause to establish textile industry centers across Africa based on the experience of the African Cotton and Textile Industry Federation (ACTIF) and formulate business incentives in the form of tariffs, access to finance and trade facilitation.
Textile-clothing is a booming industry in several African countries. In fact, the garment and footwear industry in Sub-Saharan Africa is worth $31 billion and is expected to grow by 5% through 2024. Currently, the African continent is responsible for 5.8% of the world cotton production and employs more than 450,000 people. people.
The event brought together over 15,000 experts, government officials, international organizations and stakeholders.
Fibre2Fashion (DS) News Desk