The early harvest of the Cross-Strait Economic Cooperation Framework Agreement (ECFA) officially came into effect on January 1, 2011. This initiative marked a significant step in reducing trade barriers between the Chinese mainland and Taiwan, particularly in the area of goods trade. According to the 2011 tariff implementation plan, the number of products eligible for tax reductions from Taiwan was increased from 539 to 557 items. Among these, textiles accounted for a considerable portion, including 2 types of fibers, 16 types of yarns, 85 types of fabrics, 23 types of garments, and 10 miscellaneous items, totaling 136 textile-related products.
In 2009, these items were exported to the mainland with a total value of $1.874 billion. At that time, customs duties amounted to approximately $175 million based on the existing tax rates. Under the ECFA tax reduction model, if we exclude the processing tax rebates for mainland manufacturers, it is estimated that in 2011, the total customs duties saved by Taiwanese exports to the mainland could reach around $95.62 million. Additionally, the mainland's textile exports to Taiwan could save about $2.18 million in tariffs.
Industry experts suggest that the implementation of the ECFA Early Harvest List has brought tangible benefits to Taiwanese businesses, enhancing their competitiveness in the regional market. For the long-term development of Taiwan’s textile industry, it is essential to invest more in research and development, expand market presence, and improve resource integration. By doing so, the industry can broaden the applications of its products and increase their value, ensuring sustained competitive advantages in an increasingly globalized economy.
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Shaoxing Aiyi Textile Co., Ltd. , https://www.aiyitextile.com