Taiwan voices concern over China-South Korea free-trade agreement
27/11/2014
Textile producers in South Korea will have an advantage over competitors in Taiwan, TTF said, when the agreement comes into force in mid-2015 and they are able ship many yarns, fibres and fabrics to China without duties. The two countries concluded their discussions about the terms of the free-trade agreement earlier in November.
According to TTF’s interpretation of the agreement, 85% of textile exports from South Korea to China will be duty free when the agreement comes into force. It has calculated that it could cost Taiwanese textile companies as much as $300 million per year if Chinese clothing companies choose to source these products from Korean suppliers instead.
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