TAITRA-led Trade-Promoting Group Explores Guangzhou & Shanghai

Taipei, Jan. 20, 2011 (CENS)--With the economic cooperation framework agreement (ECFA) effective on Jan. 1, 2011, the Taiwan External Trade Development Council (TAITRA), the government-backed trade promoter, led a trade-promoting group of 18 textile and bicycle manufacturers to go to China on Jan. 17, aiming to explore such segments in Guangzhou, Guangdong Province in southern China and Shanghai on the east coast.

TAITRA indicated that China's consumer market do not see many Taiwan-made textile products and bicycles, related parts since their prices are relatively higher, in addition to the heavy duties that raise prices further.

However, the said two industrial items are on the ECFA fast-track gainer list, which will reduce the import duty on bicycles to zero from 13% within two years and some textile products will also be subject to zero duty from double-digit percentages, including T-shirt with tariff of 16% and sockets of 12%.

From Jan. 17-21, the TAITRA has organized several trade talks between its group members and local wholesalers and importers.

Last year TAITRA helped 14,900 small- and medium-sized domestic enterprises to explore the markets in China and other countries. TAITRA's efforts helped generate businesses for Taiwan's SMEs totaling an estimated US$32.12 billion, of which US$430 million came from China where TAITRA organized some 29 trade-promoting groups during the year.