Taiwan`s Textile Industry to be Hit by South Korea-US FTA
Source: Asia In Focus Date: 2007-07-23
The textile industry is among a number of Taiwanese industries expected to be hit by the South Korea-U.S. Free Trade Agreement (FTA), and the government and industries will have to take precautionary measures to mitigate its impact, researchers said Thursday. Taiwanese industries that are expected to be hardest hit by the South Korea-U.S. FTA include textiles, machinery, liquid crystal display televisions (LCD TV), plastics and auto components industry, researchers from the Chung-hua Institution for Economic Research (CIER) said in a seminar discussing relevant issues.
The textile industry, especially the clothing sector, is expected to take the hardest hit among all industries, said researcher Lin Jun-fu.
Taiwan’s mid and lower-priced machinery products are also encouraged to work on product differentiation and value-added aspects to mitigate the impact of the FTA, researcher Chen Jia-le said.
