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ECFA with China to bring benefits for textile sector
08
Sep '10
After the signing of ECFA between China and Taiwan, Taiwan authorities are planning to actively promote a 10-year economic development vision in accordance with demand of traditional industries, as well as listens to voices and views from Taiwan industries.

The Taiwanese Minister of Economy and a delegation of the Textile Federation and Textile Promotion Commission, held an informal discussion with 50 textile managers at Kaohsiung County on September 4.

The theme of the conference was “Taiwan strides forward”. At the outset, the Minister informed that, after the signing of ECFA, the govt would promote business relations between Taiwan and China and also help enhance Taiwan's competitiveness.

Intellectual property protection for industries and the early harvest lists are the first steps which the Taiwan authorities have executed. Especially, within six months of the signing of the agreement, they would endeavour to ensure that Taiwanese gain maximum benefits.

He also added by saying that, after the signing of the ECFA, manufacturing and employment growth is projected to rise, which in turn would also the country achieve rapid GDP growth and that ECFA would bring real benefits to Taiwan's economic growth.

The total trade in the early harvest list amounts to US $13.83 billion, of which, textiles account for 136 items and 25 percent of the list. As per the ECFA, tariffs will reduce to 5 percent on January 1 next year, and then reduce to zero the year after.

Fibre2fashion News Desk - India

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