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MIT enhances global market image of Taiwanese textile products
30
Nov '10
Department of Investment Services, Ministry of Economic Affairs reported that in 2009, Taiwan imported US$740 million worth of textile products from mainland China, accounting for 34% of Taiwan's total textile imports by value. Taiwan's textile product exports to mainland China (including Hong Kong) came to US$3.3 billion, representing 36% of Taiwan's total textile exports. These figures give some idea of just how important the Taiwanese and mainland Chinese textile industries are to one another.

Having grown and developed over a period of many years, the Taiwanese textile industry has built up strong foundations and extensive practical management experience. The industry has a comprehensive supply chain, and has developed highly efficient industry clusters; it also has the ability to develop and integrate composite and functional textile materials.

Taiwanese firms have been working actively to develop the industrial textiles market, and the government has been providing guidance to help companies develop functional textile products for new applications. An effort has been made to achieve closer integration between the up-, mid- and downstream segments of the textile industry, creating a comprehensive, integrated value chain that covers every stage from materials production through product design to branded marketing.

Adoption of the “Made in Taiwan” (“MIT”) shared brand and the development of strong branded marketing capabilities have enhanced the global market image of Taiwanese textile products. Mainland Chinese companies could invest in functional textile and artificial fiber pilot production facilities, product R&D centers etc. in Taiwan, working together with Taiwanese companies to build a leading global center for functional textile and artificial fiber R&D, while also collaborating on the cross-strait cultivation of textile technology talent in relevant fields.

The main advantages that the Taiwanese textile industry possesses include advanced processing technology, a comprehensive, integrated value chain, effective product quality management, and experience in developing international markets. By integrating these strengths with mainland China's extensive natural resources, abundant labor supply and huge domestic market, it should be possible to create a new wave of successful market development.

Taiwan is working actively to coordinate the integration of resources, and to promote exchange and collaboration between textile firms in Taiwan and mainland China. These efforts will help the Taiwanese and mainland Chinese textile industries to pool their strengths and transform and upgrade themselves to create a bright future for the textile sector as a whole. Taiwan has already opened up its markets to mainland Chinese investment in 204 areas.

Department of Investment Services, Ministry of Economic Affairs

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