The Minister of Economic Affairs, Taiwan, Mr Yin Ming is on a visit to Peru to participate in the Asia-Pacific Economic Cooperation (APEC) forum. Before leaving for the forum, he instructed the Industrial Development Bureau to organize forums and understand the difficulty faced by the industries.
The Bureau will meet the representatives of 20 textile companies and assess the situation firsthand from them. Among these companies are well known companies like Formosa Plastics and Far Eastern Textiles. It has been reported that the industry will seize this face-to face opportunity to fight for reduction of electricity tariffs.
Meanwhile the Bureau revealed that output value of the textile industry in the current year is expected to be equivalent to that of last year, when it touched NT 470 billion. Machinery industry is expected to manufacture worth NT 600 billion, but machine tool manufacturers too have been impacted by sharp decline of Won and global industrial competition is relatively tougher.
Fibre2fashion News Desk - China
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