Home / Knowledge / News / Textiles / No customs duty on Taiwan fabric exports to China
No customs duty on Taiwan fabric exports to China
02
Jan '12
Under the Cross-Straits Economic Cooperation Framework Agreement (ECFA), customs duty has been removed on export of fabrics from Taiwan to China since beginning of 2012, Taiwan's Ministry of Economic Affairs (MOEA) has announced.

The customs duty has been reduced from the prevailing 5-15 percent to zero on 437 types of exports from Taiwan to China, including agricultural, machinery, petrochemical and textile related products.

On January 1, 2011, customs duty was reduced to zero on 72 types of goods and hence the number of Taiwanese products that can now enter Chinese market duty-free has risen to 509, the MOEA said.

The MOEA estimates the removal of tariff would help Taiwanese exporters to save up to US$ 400 million during the year, which would be about three times the savings in 2011.

During January-November 2011, Taiwan earned US$ 114.16 billion in exports to China, which resulted in saving of US$ 114 million in customs duties from the export of 72 products on which duty was removed under ECFA, According to MOEA data.

At the beginning of 2013, customs duties are scheduled to be reduced to zero on another 30 types of Taiwanese export items, taking the total number of Taiwanese goods exempted from Chinese customs duties to 539.

Under ECFA, Taiwan has agreed to remove tariffs on import of 267 types of Chinese goods by January 1, 2013.

ECFA is a bilateral pact signed between Taiwan and China in 2010. Under the pact, the two countries agreed to remove tax on a variety of goods by January 1, 2013.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Pinkesh Jain
Everflow Petrofils Ltd

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

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Eric Scholler
Groz-Beckert

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

Rupa Sood and Sharan Apparao
Nayaab

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

Pranav Mishra
Huemn

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search