Home / Knowledge / News / Textiles / China-South Korea FTA to knock down Taiwan textile exports
China-South Korea FTA to knock down Taiwan textile exports
29
Nov '14
A free trade agreement between South Korea and China could knock down Taiwanese textile exports to China to the tune of US $324 million per annum.

According to the Taiwan Textile Federation (TTF), through the FTA, 85 per cent of South Korean textile exports to China may be granted duty-free status in the future,” Focus Taiwan reported.

TTF conservatively estimates the loss to Taiwanese textile exports to China at $324 million or even more, once the FTA between South Korea and China is implemented.

The TTF said currently Taiwan mainly exports fibres, yarns and fabrics to China, while South Korea ships fibres, apparels and accessories among the major items.

China and South Korea had announced earlier this month that they have concluded talks on the FTA, which is expected to go into effect in mid-2015.

The announcement has given rise to concern among Taiwanese textile exporters over South Korea's rising competitive edge in the huge China market.

As per a recent Taiwanese government assessment, among many goods, Taiwanese produced petrochemicals, textiles, machine tools and steel exports may be mainly impacted from the FTA.

The government said the FTA could hit total Taiwanese exports by 1.35 per cent or $3.75 billion per annum.

TTF said Taiwan should speed up the pace of signing a trade-in-goods agreement with China in a bid to stem the adverse impact of the China- South Korea FTA.

Earlier in January 2012, fibre2fashion had reported that a potential China-South Korea FTA, is likely to impact Taiwanese exports of more than 2,000 items to China, besides textiles. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 22nd Jul 2017

Govt constitutes GST Feedback and Action Room

The Government of India has constituted a Feedback and Action Room...

Textiles | On 22nd Jul 2017

India’s cotton textile exports fell in FY17: Tamta

The overall export of cotton textiles from India declined in 2016-17...

Textiles | On 22nd Jul 2017

Stella McCartney, Bolt Threads partner for eco fashion

Fashion designer Stella McCartney has partnered with Bolt Threads for ...

Interviews View All

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Eric Scholler
Groz-Beckert

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

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Silvia Venturini Fendi
Fendi s.r.l

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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

July 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

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

Yes No

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

Yes No

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


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



X