Taiwanese Premier Sean C. Chen has assured help to textile industries clustered in southern Taiwan in upgrading their machinery.
The South Korea-US Free Trade Agreement (KORUS FTA), which came into effect from March 15, 2012, is likely to affect more than US$ 3 billion worth of Taiwanese exports to the US, mainly because Taiwan and South Korea compete in international markets for exporting similar kinds of goods.
To overcome the negative impact of KORUS FTA, Taiwanese textile industry needs to upgrade itself by adopting new technologies, eco-friendly production processes and by implementing innovative ideas.
Taiwan’s domestic textile manufacturers say, in addition to upgradation of technologies, the Government can also help them by acquiring industrial land at cheaper rates and by effectively solving the problem of labour shortage. They add that such steps by Government would bring down their cost of production and would enable them to remain competitive in the global markets.
The Premier assured that he would take up the matter with concerned Government Ministries.
In 2011, Taiwan exported textiles worth NT$ 12.7 billion, which is the highest in last one decade.
