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Subject: BOFT and Textiles Federation J...
Content: In order to assist Taiwans textile industry with enhancements to its international competitiveness a...

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BOFT and Textiles Federation Join Forces to Expand Overseas Opportunities

Source:Bureau of Foreign Trade, Ministry of Economic Affairs
Revise Date:2021-01-19

In order to assist Taiwan's textile industry with enhancements to its international competitiveness and expand its global market share, the Bureau of Foreign Trade (BOFT), Ministry of Economic Affairs continues to collaborate with the Taiwan Textile Federation (TTF) in implementing the Textile Export Promotion Project (TEPP). Because of COVID-19, the TEPP project was executed in 2020 by way of online meetings, digital marketing and international media exposure. Close to 40 promotional events were organized in total in 2020, involving more than 300 Taiwanese companies and generating potential orders valued collectively at US$5 million. In addition, the project provided customized services to help individual enterprises explore and develop overseas markets. The 15 companies that received this assistance developed, on average, 11 new clients each, and established, through the clustering effect, close partnerships with 221 businesses in the supply chain.

According to an ITMF (International Textile Manufacturers Federation) survey, COVID-19 is expected to reduce the 2020 world textile turnover by around 16% compared to 2019. However, the pandemic has also created an unprecedented demand globally for personal protective equipment, particularly, reusable non-medical supplies. The market size for reusable facemasks, for instance, increased from US$1.3 billion in 2019 to US$19.2 billion in 2020. In line with this trend, Taiwan's textile exports in 2020 decreased to US$6.828 billion (up to November), or 19% over the same period in 2019. Exports of other miscellaneous textile articles (primarily facemasks) experienced an increase of 28%.

For more information on the Taiwan Textiles Promotion Project, please visit the official website at: https://export.textiles.org.tw

Published Date:2020-12-30