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Taiwanese textiles to benefit from FTA with China
28 Jun '10
2 min read
Once the cross-border trade pact between China and Taiwan is signed later this month, share of 136 Taiwanese textile manufactured exported goods is expected to increase considerably in the Chinese market.
In the first round of the “early harvest list”, 136 textile goods from Taiwan and 22 from China have been included in the economic cooperation framework, which will attract preferential tariffs under the consensus reached by the two countries.
According to Huang Wei-chi, Secretary-General of the Taiwan Textile Federation (TTF), the 136 products account for 67 percent of Taiwanese textile exports to China. Textile exports from Taiwan to China averaged around US 2.8 billion between 2007 and 2009.
On Taiwanese textile imports, China currently imposes duties of 5 percent on chemical fibers and yarns, 10 percent on fabrics, and between 14-18 percent on clothing. On the other hand, Taiwan levies tariffs of less than 3 percent on chemical fibers and yarns and less than 10 percent on fabrics, which is lower than those imposed by China.
Speaking about the impact on the local industry of the 22 Chinese textile items which will receive preferential treatment, he said that since these products make up for just 10 percent of all Chinese textile imports, the effect will be minimal.
In the first round of the “early harvest list”, 136 textile goods from Taiwan and 22 from China have been included in the economic cooperation framework, which will attract preferential tariffs under the consensus reached by the two countries.
According to Huang Wei-chi, Secretary-General of the Taiwan Textile Federation (TTF), the 136 products account for 67 percent of Taiwanese textile exports to China. Textile exports from Taiwan to China averaged around US 2.8 billion between 2007 and 2009.
On Taiwanese textile imports, China currently imposes duties of 5 percent on chemical fibers and yarns, 10 percent on fabrics, and between 14-18 percent on clothing. On the other hand, Taiwan levies tariffs of less than 3 percent on chemical fibers and yarns and less than 10 percent on fabrics, which is lower than those imposed by China.
Speaking about the impact on the local industry of the 22 Chinese textile items which will receive preferential treatment, he said that since these products make up for just 10 percent of all Chinese textile imports, the effect will be minimal.
Fibre2fashion News Desk - India
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