The Taiwan Hosiery Manufacturers' Association (THMA) said yesterday that it welcomed the Taiwanese government's efforts to sign an economic cooperation framework agreement (ECFA) with China.

THMA Chairman Wei Ping-chi told Focus Taiwan News Channel: “Socks, tights and stockings made in Taiwan are of much higher quality than those produced in China and once an ‘across-strait’ trade pact is forged, ‘made-in-Taiwan’ hosiery products will enjoy fast sales growth in the Chinese market.”

"The opening of the market brought about by the ECFA will create a new business niche in China for Taiwanese hosiery manufacturers,” Wei told Focus Taiwan. Wei apparently made the remarks in response to a televised debate between President Ma Ying-jeou and opposition Democratic Progressive Party Chairperson Tsai Ing-wen on signing an ECFA.

Tsai Ing-wen said during the debate that: “Taiwanese manufacturers may benefit from ECFA-authorized tariff concessions temporarily, but that the international competitiveness of Taiwan's industrial sector would be compromised in the long run.”

Wei Ping Chi is president of Fu Chu Knitting Co., which is said to be a producer of high-quality legwear under several brand names. Eighty percent of the company's products are said to be exported to the United States and the remaining 20 percent are mainly exported to Europe, Asia and Latin America.

He predicted that after the ECFA is signed, the government will be obliged to strengthen inspection and control on imports from China and in turn stymie the smuggling of substandard hosiery products from China. "The ECFA will allow Taiwan manufacturers an opportunity to compete with their Chinese rivals on a fair and legal platform, creating a niche for us," Wei Ping Chi said.

Source: Focus Taiwan