Home / Knowledge / News / Textiles / Taiwan focuses on EU trade deal to protect textile industry
Taiwan focuses on EU trade deal to protect textile industry
14
Oct '11
Taiwan is hoping to sign a trade deal with EU within the next two years to protect its textile industry from Korean competition.

Textile and chemical exports from Taiwan to China enjoy a comparative advantage over exports from other countries like Korea, Japan and ASEAN nations, ever since Taiwan inked an Economic Cooperation Framework Agreement with mainland China, Vice Economics Minister Lin Sheng-chung said.

However, the Free Trade Agreement between the European Union and South Korea which became effective from July 1 this year has come as a threat to Taiwan, as Korea is the toughest competitor for Taiwan in the world market.

Thus, in order to safeguard the interests of Taiwanese enterprises there is a need to expedite the efforts to finalize an economic cooperation agreement (ECA) with the European Union, for which Taiwan has gained support of the UK, Mr. Lin said.

Taiwan's Vice Economics Minister, who is on a tour of European nations to push for the proposed ECA with EU, while addressing a group of Taiwanese entrepreneurs during a meeting in London said with an expectation to finalize the trade deal within next couple of years, Taiwan would persist with its efforts to gain support from other EU nations.

Next to Czech Republic and Ireland, Britain is the third destination of Mr. Lin's EU tour.

Mr. Lin further said that a resolution adopted by the European Parliament in support of the ECA on May 11 has proved to be of great help for Taiwan's lobbying efforts in EU.

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Michael Kors

Fashion | On 25th Jul 2017

Michael Kors to acquire Jimmy Choo

Global fashion luxury brand Michael Kors Holdings Limited has reached ...

Apparel/Garments | On 25th Jul 2017

VF Corp posts $2.4 billion revenue for Q2 2017

VF Corporation has recorded revenue of $2.4 billion, up 2 per cent,...

Textiles | On 25th Jul 2017

Egypt signs agreement with UNIDO for cotton production

Egypt has signed a €1.5 million ($1.74 million) cooperation agreement ...

Interviews View All

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X