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

L-R Manish Singhai, COO, Peter England; Vinai Kumar Saxena, chairman, KVIC; Ashish Dikshit, business head, ABFRL and Anshu Sinha, CEO, KVIC while signing agreement. Courtesy: ABFRL

Textiles | On 24th May 2017

Aditya Birla & KVIC enter into a strategic partnership

Aditya Birla Fashion and Retail Ltd (ABFRL) and Khadi and Village...

Courtesy: Jabong

Apparel/Garments | On 24th May 2017

Jabong Mood Store redefines online shopping in India

Jabong, India's leading online fashion retailer, has launched the...

Textiles | On 24th May 2017

Starlinger unveils FX 8.0 circular loom for fabric making

Starlinger, a leading supplier of machinery for woven plastic...

Interviews View All

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Ritu Kumar
Label Ritu Kumar

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

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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