Home / Knowledge / News / Textiles / China-South Korea FTA to knock down Taiwan textile exports
China-South Korea FTA to knock down Taiwan textile exports
29
Nov '14
A free trade agreement between South Korea and China could knock down Taiwanese textile exports to China to the tune of US $324 million per annum.

According to the Taiwan Textile Federation (TTF), through the FTA, 85 per cent of South Korean textile exports to China may be granted duty-free status in the future,” Focus Taiwan reported.

TTF conservatively estimates the loss to Taiwanese textile exports to China at $324 million or even more, once the FTA between South Korea and China is implemented.

The TTF said currently Taiwan mainly exports fibres, yarns and fabrics to China, while South Korea ships fibres, apparels and accessories among the major items.

China and South Korea had announced earlier this month that they have concluded talks on the FTA, which is expected to go into effect in mid-2015.

The announcement has given rise to concern among Taiwanese textile exporters over South Korea's rising competitive edge in the huge China market.

As per a recent Taiwanese government assessment, among many goods, Taiwanese produced petrochemicals, textiles, machine tools and steel exports may be mainly impacted from the FTA.

The government said the FTA could hit total Taiwanese exports by 1.35 per cent or $3.75 billion per annum.

TTF said Taiwan should speed up the pace of signing a trade-in-goods agreement with China in a bid to stem the adverse impact of the China- South Korea FTA.

Earlier in January 2012, fibre2fashion had reported that a potential China-South Korea FTA, is likely to impact Taiwanese exports of more than 2,000 items to China, besides textiles. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Mikes Photos from Pexels

Apparel/Garments | On 17th Oct 2018

Bangladesh garment exports swell 14.66% in Q1 FY19

Readymade garment exports from Bangladesh increased by 14.66 per cent ...

Courtesy: Sourcemap

Apparel/Garments | On 17th Oct 2018

Sourcemap launches 1st free digital map of apparel units

New York-based software company Sourcemap recently launched the Open...

US apparel industry is already highly tariffed: AAFA

Apparel/Garments | On 17th Oct 2018

US apparel industry is already highly tariffed: AAFA

The American apparel and footwear industry is highly tariffed, as per ...

Interviews View All

Headhonchos, Indian fashion industry

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

DK Sharma, Velocity Apparelz

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Prabu Mohanram, Balavigna Weaving Mills Pvt Ltd

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Gagan Gulati,

Gagan Gulati

PG Silk Mills Private Limited had a humble start with a hand-dyeing unit....

Erik Sy,

Erik Sy

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

Carolin Russ,

Carolin Russ

Weko, Weitmann & Konrad GmbH & Co KG, based in south Germany, is...

Razvan Popescu, Directa Plus SpA

Razvan Popescu
Directa Plus SpA

Directa Plus is one of the largest producers and suppliers worldwide of...

Chunyi Zhi, City University of Hong Kong

Chunyi Zhi
City University of Hong Kong

<div><b>Chunyi Zhi</b>, associate professor in the Department of Materials ...

Isabel Herranz, European School of Business & innovation

Isabel Herranz
European School of Business & innovation

Cutting-edge ideas like the Internet of Things and artificial intelligence ...

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Pranav Mishra, Huemn

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Cigdem Akin, Cigdem Akin

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

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


October 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search