Taiwan Man-Made Fiber Industries Association (TMMFA) chairman Hou Po-ming, feels Taiwanese textile industry need to develop into a complete supply chain and compete through quality instead of quantity as it is hard to compete with China through quantity.
As per latest data, China controls 73 per cent of the global chemical fiber market share while Taiwan only holds 2.9 per cent. Opportunities lie in high-end functional fabrics and other smart applications, the industry could make use of global trends in sports and leisure activities.
Meanwhile, Taiwan’s functional fabrics have a global market share of 70 per cent, with more than 50 per cent of the world’s fireproof fabrics produced in Taiwan and eight out of 10 yoga apparel lines sold in the US manufactured by Taiwanese companies. According to the association, the nation’s textile industry has the upper hand in research and design, as well as capability to supply high-end products to downstream industries, global brands and channel distributors. As the industry as a whole is responsible for the livelihood of 150,000 Taiwanese families, Hou urged the incoming government, which will take office on May 20, to work on joining regional economic agreements such as the Trans-Pacific Partnership and the Regional Comprehensive Economic Partnership soon to eliminate tariffs.