Latest news with #EuroCham
Fibre2Fashion
12-05-2025
- Business
- Fibre2Fashion
US-China trade war notably affects biz confidence of EuroCham members
Insights Though there has been a relatively limited direct impact of the recent escalation of US-China tariffs and trade measures on members of the EU Chamber of Commerce in China, the trade war has resulted in significantly heightened uncertainty for firms operating in China, a survey revealed. Over two-thirds of respondents said they have been unaffected by such tariffs. Though there has been a relatively limited direct impact of the recent escalation of US-China tariffs and trade measures on members of the European Union (EU) Chamber of Commerce (EuroCham) in China, the trade war has resulted in significantly heightened uncertainty for companies doing business in China, an online survey revealed. EuroCham members are most affected by China's tariffs on US goods, with almost half of respondents reporting this to be the case. Though there has been a relatively limited direct impact of the recent escalation of US-China tariffs and trade measures on members of the EU Chamber of Commerce in China, the trade war has resulted in significantly heightened uncertainty for firms operating in China, a survey revealed. Over two-thirds of respondents said they have been unaffected by such tariffs. By contrast, over two-thirds of respondents stated that they have been unaffected by US tariffs on imports from China. This can be attributed to the 'in China, for China' approach that many Chamber members have adopted, a release from the chamber, which conducted the flash survey, noted. The trade war has significantly affected business confidence, however, with 59 per cent of respondents stating that doing business has become more difficult since 2025 began, more than 60 per cent expecting intensified competition and 58 per cent concerned about future profits. While 57 per cent of respondents reported that their business strategy has not changed, they continue to monitor the situation. Of those that have already taken action, 17 per cent are making changes to their sourcing, 14 per cent are delaying investments or expansion plans in China and an equal percentage are looking to increase their investments in the country. 'It is difficult to overstate how much uncertainty this trade war has created for our members,' said Jens Eskelund, president of the chamber. 'But we believe that China can turn crisis into opportunity and demonstrate that it is a stable and predictable investment destination.' Fibre2Fashion News Desk (DS) Disclaimer - All News/Articles items are subject to copyright and no article either in full or part may be reproduced in any form without permission from Fibre2Fashion Pvt. Ltd. Disclaimer - All News/Articles items are subject to copyright and no article either in full or part may be reproduced in any form without permission from Fibre2Fashion Pvt. Ltd.
Fibre2Fashion
25-04-2025
- Business
- Fibre2Fashion
EuroCham in Bangladesh concerned over planned trade concessions to US
The European Union Chamber of Commerce (EuroCham) in Bangladesh recently requested the interim government to avoid discriminating against European Union (EU) companies by mulling over offering substantial trade concessions to the United States. The EU accounts for half of Bangladesh's exports and has been offering the latter duty- and quota-free preferential access under the 'Everything But Arms' scheme since 2001. EuroCham Bangladesh has urged the interim government to avoid discriminating against EU firms by mulling over offering substantial trade concessions to the US. High tariffs and non-tariff barriers hinder EU firms' efforts to do business with and export to Bangladesh, it noted, encouraging Dhaka to reaffirm its commitment to a rules-based trading system and pursue needed policy and customs reforms. Bangladesh enjoys a notably higher trade surplus with the EU compared to its other trading partners. Out of a total €22-billion trade in 2024, EU exports accounted for only €2 billion, resulting in a trade balance strongly in favour of Bangladesh, the chamber said in a statement. High tariffs and non-tariff barriers hinder EU companies' efforts to engage in business with and export to Bangladesh, it was cited as saying by domestic media reports. EuroCham encouraged Dhaka to reaffirm its commitment to a rules-based trading system and to pursue essential trade policy and customs reforms, while ensuring fair and equitable treatment for all trading partners, the statement added. Fibre2Fashion News Desk (DS)
South China Morning Post
20-03-2025
- Business
- South China Morning Post
Beijing will keep Hong Kong ‘free and open' for business, Euro chamber told
Beijing's point man on Hong Kong affairs has underscored the central government's determination to maintain the city's 'free and open' business environment at a meeting with a European trade group. Advertisement Xia Baolong, director of Hong Kong and Macau Affairs Office, also urged the European Chamber of Commerce in Hong Kong (EuroCham) to make it easier for firms from the continent to develop in the city while acknowledging the group's contributions as he received the delegation in Beijing on Thursday. 'Xia said the Chinese government has always insisted on implementing the 'one country, two systems' principle comprehensively, accurately and unswervingly and fully supported Hong Kong in maintaining its unique status and advantages in the long term,' a statement from his office said, referring to the framework under which the city is governed. '[Beijing] supports Hong Kong in maintaining its open, free and regulated business environment, strengthening and expanding its exchanges and cooperation with different countries and places all over the world in creating better conditions for companies from different places, including Europe, to develop in the city.' Xia, receiving the first delegation EuroCham has sent to the capital, called on the business group to continue to play to its strengths in promoting the development of European companies in Hong Kong and contributing to the city's long-term prosperity. Advertisement According to the office, Xia praised the group for its optimism on China and the city, its support for the local government and its efforts in promoting long-term investment by European companies in Hong Kong.
