Home / Knowledge / News / Textiles / China-Korea FTA to affect Taiwan's textile exports
China-Korea FTA to affect Taiwan's textile exports
20
Jan '12
Taiwan's textile exports to China are likely to be hit by the China-Korea Free Trade Agreement (FTA), negotiations for which are going to start soon, Taiwan's Bureau of Foreign Trade (BoFT) General Director, Bill Cho, said.

Besides textiles, China-Korea FTA is likely to impact exports of more than 2,000 items to China, particularly when Korea has already inked similar agreements with the EU and the US.

The China-Korea FTA would prove detrimental to Taiwan, especially if it takes form before the conclusion of cross-strait negotiations between Taiwan and China for further facilitations of mutual trade.

According to the Ministry of Economic Affairs, industrial machinery, petrochemical materials, machine tools and textile goods are all included in the list of items whose exports from Taiwan to China overlap with those from Korea.

Korea has been pitching for FTA with China ever since Taiwan inked an Economic Cooperation Framework Agreement (ECFA) with China in mid-2010. It is because a number of Korea's export items to China coincide with those from Taiwan.

For years, Taiwanese companies had been competing with Korean firms for retaining their share in the machine tools export market in China. However, inking of the FTA between China and Korea would turn the competition scenario in favour of Korean players in future. Still, the ECFA would enable Taiwan to continue shipping some of its machine tools and related parts to China, duty-free.

Meanwhile, Cho said that though particulars and schedule of the China-Korea FTA negotiations are not apparent at present, the recent decision of China and Korea to commence mutual FTA negotiations has raised the concerns of Taiwan.

He added that BoFT is taking the matter seriously and it would assess the impacts that the agreement would have on Taiwan, and would try to find out ways to ease those impacts, even before the FTA comes into effect.

Fibre2fashion News Desk - India


Must ReadView All

Israeli minister announces tax cuts on consumer goods

Apparel/Garments | On 14th Dec 2017

Israeli minister announces tax cuts on consumer goods

The Israeli Government will slash taxes by $227 million, finance...

Courtesy: Kelvin Techstyles

Apparel/Garments | On 14th Dec 2017

Kelvin Techstyles fuses style and function in city apparel

Fusing style and function in outdoor clothing, Roseville,...

India’s WPI inflation for textiles up 0.3% in Nov 2017

Textiles | On 14th Dec 2017

India’s WPI inflation for textiles up 0.3% in Nov 2017

India’s annual rate of inflation, based on monthly wholesale price...

Interviews View All

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Silke Brand-Kirsch
Schlegel und Partner

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

Johan Berlin
InvestKonsult Sweden AB

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

Pranav Mishra
Huemn

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

Sanjukta Dutta
Sanjukta's Studio

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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

December 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

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

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

Yes No

Active Poll

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

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

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

Yes No

Active Poll

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

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

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

Active Poll

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

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


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