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UKFT welcomes Brexit trade deal with European Union
Confidence in the UK as a supply base has fallen sharply in Europe.
12th July 2023
Knitting Industry
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London
A new report has been published examining the impact of Brexit on the fashion, textile and technology (FTT) ecosystem in the UK and offering five key recommendations to support future growth.
The report has been jointly published by the Business of Fashion, Textiles and Technology (BFTT) led by the University of the Arts London and the Future Fashion Factory (FFF) led by the University of Leeds, with UKFT CEO Adam Mansell as chair of the project.
“The UK’s departure from the EU was the biggest change in the global trading environment in decades,” Mansell said. “With the EU accounting for 75% of the UK’s fashion and textile exports and over 30% of the sector’s imports, the implications of the change in the relationship were always going to be hugely significant.
“Despite the rhetoric, the UK EU Trade Continuity Agreement was not the simplest trade deal ever negotiated. The reality is – and was always going to be – a new trading relationship with significant administrative burdens, with a large increase in costs and with more limited movement of people and product."
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