China-Korea Free Trade Agreement (FTA) to affect Taiwan’s textile exports

Taiwan’s textile exports to China are likely to be hit by the China-Korea Free Trade Agreement (FTA), negotiations for which are going to start soon, Taiwan’s Bureau of Foreign Trade (BoFT) General Director, Bill Cho, said.

Besides textiles, China-Korea FTA is likely to impact exports of more than 2,000 items to China, particularly when Korea has already inked similar agreements with the EU and the US.

The China-Korea FTA would prove detrimental to Taiwan, especially if it takes form before the conclusion of cross-strait negotiations between Taiwan and China for further facilitations of mutual trade.

According to the Ministry of Economic Affairs, industrial machinery, petrochemical materials, machine tools and textile goods are all included in the list of items whose exports from Taiwan to China overlap with those from Korea.

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