Business Standard, India
Taipei, Aug. 25, 2014 (CENS)–To promote Taiwan`s textile industry, the Ministry of Economic Affairs (MOEA) has integrated the resources of its three subsidiaries-Industrial Technology Department, Industrial
Development Bureau and the Bureau of Foreign Trade to help textile manufacturers with their prospective investment projects, hoping to help the sector create NT$300 billion (US$9.68 billion at US$1 = NT$31) in production value by 2015.
Taiwan Textile Research Institute (TTRI), the Society of RP/C ROC, and Taiwan Technical Textiles Association (TTTA) recently signed an alliance agreement for strategic cooperation to share resources and R&D. The alliance aims to expand the markets for fiber textile and technical textile manufacturers.
Lin Po-shih, chairman of the Society of RP/C, indicated that Taiwan started to develop fiber textile in 1974 and today the textile has become a knowledge-intensive and capital-intensive industry, generating more than 300,000 tons of fiber products a year with production value of over NT$30 billion (US$968 million). Among fiber textile items, the electronics-class fiber has been growing rapidly along with the island`s thriving electronics, information technology, and telecommunication industries, and Taiwan`s electronics-class fiber now leads the world in terms of production volume.
Tai Jung-chi, chairman of TTTA, noted that the output of Taiwan`s industrial-use textile industry reached NT$60 billion (US$1.94 billion) about four years ago and the figure this year is estimated to expand to NT$90 billion (US$2.9 billion).
To enhance textile production value, the newly formed alliance is planning to put more efforts in upgrading technology so to create more value-added new products. Among the projected new items, the reinforced light-weight fiber cloths that can be used in industrial and building materials are believed most wanted.
The alliance will soon to invite 25 manufacturers as members, hoping each can generate additional output worth NT$4 billion (US$129.03 million) by 2015.
(by Judy Li)
