Home / Knowledge / News / Textiles / Taiwan-China ECFA deal to deduct tariffs on 500 goods
Taiwan-China ECFA deal to deduct tariffs on 500 goods
14
Jun '10
Almost 500 Taiwanese textile goods, petrochemical, machinery and auto parts will be the first goods to profit from cut in tariffs, under a trade deal with China, as declared by the China's Taiwan affairs head, Wang Yi.

Yi announced this to the Taiwanese delegates, during the third round of expert-level discussions on the Economic Co-operation Framework Agreement (ECFA). Yi assured that the deal would be inked by June end.

Yi's declaration are the recent and most clearest confirmation received in the market till now, for the content of the deal and the time for signing the same, both subjects of speculations during the last couple of weeks.

While cut in tariff for petrochemical goods could be around 60 percent, those for textile can be almost 80 percent. Hence, all the initial goods listed for tariff reduction, named under the early harvest list, account for about 15 percent of Taiwan's exports to China.

As of today, Taiwan is dependent on ECFA for opening doors to trade deals with other vital economies such as US, Japan and Southeast Asian countries, permitting its exports of $390 billion economy to remain competitive with regional competitors.

But there are also a few experts who dread, that the deal might flood Taiwan's markets with cheap Chinese imports, destroying Taiwan's economy.

As of now, the two nations have reached a consensus on the agreement's texts and both nations will soon finalize on a list of products and services, so as to benefit from the early harvest plan during the following discussions.

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

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Silke Brand-Kirsch
Schlegel und Partner

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

Johan Berlin
InvestKonsult Sweden AB

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

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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
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