Home / Knowledge / News / Textiles / Korea to guard local textile sector in FTA with China
Korea to guard local textile sector in FTA with China
10
Feb '12
The Government of South Korea would consider the potential impact on its domestic industries, including textile industries, before agreeing to a free trade agreement (FTA) with China.

Park Tae-ho, Minister of Trade, said the Government will take opinion of all businesses that may be affected due to opening of the Korean market for China.

The Minister said there is a need to frame a policy to get access to the Chinese market for Korean goods, as China's domestic market is growing at a fast-pace. The FTA will give an advantage to South Korea ahead of competition from other countries to get a foothold in the Chinese market, he added.

Meanwhile, while concurring on the need for a free trade agreement (FTA) with China, Korea Federation of Textile Industries (KOFOTI) has urged the Government to apply various safeguards to stop sudden influx of low-priced imports from China and also to prevent unfair trade practices that might harm local businesses.

Lee Dong-geun, Vice Chairman of the Korea Chamber of Commerce and Industry (KCCI), said a South Korea-China FTA is inevitable sooner or later, as China is the world's second-largest economy and also the largest importer of South Korean products.

However, Mr. Lee emphasized that the Government should get some concessions from China to protect its domestic vulnerable industries, especially those represented mainly by small and medium enterprises (SMEs).

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

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Claudia Kersten
Global Organic Textile Standard

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

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Johan Berlin
InvestKonsult Sweden AB

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

Silke Brand-Kirsch
Schlegel und Partner

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

Ashok Desai
Bombay Textile Research Association

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

Ritu Kumar
Label Ritu Kumar

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

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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