Ukrainian manufacturers face bankruptcy due to cheap imports
Leading Ukrainian textile manufacturers have called on the government to put on hold their recently announced plans for establishing a free trade zone with Turkey, as this could lead to the influx of cheap textile goods and eventually to bankruptcies.
Currently, Ukraine imposes a 10% duty on Turkish textile and clothing imports. According to analysts, lifting the duty could lead to massive lay-offs in Ukraine, which has more than 100,000 people working in the sector.
For the full story, see the December 2020 edition of Textiles Eastern Europe.