The yearly production value of Taiwan textile industry is expected to reach over US $16 billion by 2009. In order to promote the innovation and development of this sector, the Government has planned to invest a sum of nearly $850 million in the coming three years.
Initiatives are being taken by the Government to make Taiwan a leader in global functional textile industry by 2015.
While the present yearly production value of Taiwan textile industry is about $14.11 billion, the yearly average trade surplus is over $9 billion.
Taiwan textile industry is threatened with stiff competition in the international market in terms of cheap labor of the developing countries and technological advances of the developed countries.
However, it has an edge over other nations in sphere of innovative abilities for, which it is even ranked sixth in the world. Besides, the new textile products manufactured by the domestic industries have received good response and acceptance in many countries.
Fibre2fashion News Desk-China
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