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

Global economic upswing became broader & stronger: IMF

Textiles | On 19th Apr 2018

Global economic upswing became broader & stronger: IMF

The global economic upswing that began around mid-2016 has become...

Courtesy: ITMA

Textiles | On 19th Apr 2018

ITMA 2019 expanding space due to overwhelming response

Due to overwhelming response, the exhibition space has been increased ...

BIDA’s Europe trip to showcase a different Bangladesh

Apparel/Garments | On 19th Apr 2018

BIDA’s Europe trip to showcase a different Bangladesh

The Bangladesh Investment Development Authority (BIDA) is taking a...

Interviews View All

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Mark Paterson
Technical Absorbents Ltd

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

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Lynda Kelly
Suominen Corporation

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

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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

Leave your Comments


April 2018

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

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

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

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

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

Yes No

Active Poll

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

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

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

Active Poll

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

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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