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BOFT aims to elevate domestic textile sector
15
Jan '08
Taiwan will soon become a textile hub in the Asia-Pacific region by means of an integration model. Efforts for the same are being made by the Bureau of Foreign Trade (BOFT).

This integrating policy aims to bring together designers, product developers, manufacturers and marketers in the field for providing the best quality products to the international market.

The domestic textile industry accounts for being the country's fifth largest sector and third largest foreign exchange earner.

Estimates concluded by BOFT shows that the textile industry of Taiwan has garnered for the past five years US $9 billion in foreign exchange every year. The industry's exports amounted to $10.6 billion in the first 11 months of 2007.

This sector can be safely considered as an export oriented segment since nearly 80 percent of its produce is sold to international markets.

The integration plan is being considered jointly by the BOFT, the Taiwan Textile Federation and the Taiwan Textile Industrial Research Institute. Also, it is expected to be enforced in July and will begin accepting applications by individual and companies interested in the enterprise.

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