Taiwan Textile Fed. Signs MOU With European Counterpart

The Taiwan Textile Federation (TTF) signed a memorandum of understanding (MOU) with the European Textile and Clothing Confederation (EURATEX), which is expected to help Taiwanese and European clothing manufacturers to sharpen competitive edge in China and globally.

The MOU was inked by TTF chairman William Wong and EURATEX chairman Dr. Peter Pfneisl.

The European Union is currently the world`s largest consumption market for textiles and apparel with annual consumption valued at 500 billion euro. The textiles and apparel industry in the EU, with over two million employees in 128,000 firms, has an annual output exceeding 200 billion euro.

Headquartered in Brussels of Belgium, the EURATEX is the sole organization representing the EU`s textile and apparel sector. Pfneisl was impressed by the development of Taiwan`s innovative textiles while visiting the Taiwan Innovative Textile Application Show (TITAS) last year.

To help domestic manufacturers of textiles and apparel launch strategic alliances with foreign counterparts, TTF so far has signed MOUs with textile organizations in China, South Korea, Vietnam, Bangladesh, India and Indonesia.

The MOU of between TTF and EURATEX calls for strengthening mutual cooperation in trade and investment, establishing effective communicating channels and early-warning systems in the fields of trade regulations, trade facilitation, and trade barriers, protecting intellectual property rights and mutual cooperation in countering illegitimate and unfair trade.