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

Apparel/Garments | On 28th May 2017

Over 45% US retailers to use AI in next 3 years: Report

Over 45 per cent retailers in the US plan to utilise artificial...

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Apparel/Garments | On 28th May 2017

Naked Brand, Bendon sign agreement to reorganise

Naked Brand Group, a fashion and lifestyle brand, and Bendon Limited, ...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Wendell Rodricks
Wendell Rodricks

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

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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