Exports of 136 textiles from Taiwan to the mainland will enjoy low tariff concessions after the ECFA is formally implemented. Taiwan's industry says that tariff reduction for bulk exports of Taiwan's polyester fabrics will increase Taiwan's competitiveness.
According to reports, the early harvest list of ECFA contains a total of 136 textile products, in which the tariff on polyester yarn has declined to zero percent; the rate on fabrics products has declined to five percent. With very low tariffs, the sustainable development of Taiwan's advanced new materials and functional textiles will have opportunity to enter mainland's domestic market.
Taiwan industry points out that polyester filament were mainly sold in domestic market in the past, so in the short term, its direct benefits from the early harvest list is limited, the main focus will be bulk exports of downstream fabric products.
Among them, polyester fabrics will be one of the benefited products, tariff reduction will enhance the competitiveness of these products and increase demand of polyester filament products, when downstream fabric factories continue to expand markets.
International market estimates indicate that, cotton production will exceed demand in 2011 and 2012, but cotton supply and demand is still tight in the short term. The average price of cotton per pound (1 pound = 0.45 kg) is estimated to be above 110 cents in 2011.
So at a time when cotton prices will stay high, downstream factories are expected to increase usage of polyester products, which will directly benefit the polyester sector in Taiwan.
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