The European Commission has initiated the process to withdraw the access of the Asian country to the trade preference program Everything but Arms (EBA), but the final approval of member countries still misses.
In the last edition of the World Economic Outlook report, the authority warns of dangers for mature economies such as the slower growth of labour force due to population aging or the end of fiscal stimuli in the United States.
Representatives of textile industry workers in the country have started to contact big fashion retailers with local manufacturing sites to seek out supports for a Bangladesh Accord-like agreement.
The South American country, with just 3.4 million inhabitants, has turned into the latest territory conquered by the Swedish group, which recently opened in Montevideo its first store in the Uruguayan market.
News on the latest macroeconomic indicators related to the textile- and fashion industry worldwide.