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Textile machinery sector cranes higher
26
May '08
Taiwan Association of Machinery Industry (TAMI)reported on May 20 that the output value of Taiwan machinery industry reached 230 billion Taiwan dollars in the first quarter this year, an increase of about 10 percent, in line with expectation.

TAMI experts also believe that the total output value of machinery industry will achieve 970 billion Taiwan dollars this year, up 10 percent from that in 2007.

The Industrial & Technology Intelligence Services (ITIS) Program Office of the Technology Department of the Ministry of Economic Affairs pointed out that in addition to the EU and US markets, China and India also have recorded good contributions to machinery industry, this year.

Though, India boasts a rapidly growing auto parts manufacturing industry and import tariff rates keep fluctuating, Taiwanese machinery and textile equipments remain quite competitive.

China is set to hold 2008 Olympics, 2010 Shanghai World Expo, Guangzhou Asian Games and other major events. There will be many major constructions and will have very strong demand for high-precision machine tools, generating huge demand and potential opportunities for Taiwan's machinery industry.

Fibre2fashion News Desk - China

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