FREE TRADE:South Korean manufacturers enjoy zero tariffs on their exports thanks to FTAs, and talks between Beijing, Tokyo and Seoul could further imperil local firms

Taipei Times
Date: Sep 17, 2016
By: Kuo Chia-erh / Staff reporter

The persistent weakness in the yen might continue to drag down Taiwan’s machinery exports, the Taiwan Association of Machinery Industry (TAMI, 台灣機械工業公會) said on Thursday.

“Local machinery manufacturers are facing rising competition from their global peers, as well as challenges from the impact of easing monetary policies in Taiwan’s major trading partners, especially Japan,” said Wang Cheng-ching (王正青), secretary-general of the Taichung-based association.

Machinery exports last month declined 6.3 percent to US$1.8 billion on a yearly basis, with overseas shipments of machine tools and other machinery goods falling 5.5 percent and 6.4 percent over the period respectively, Ministry of Finance data showed.

According to statistics compiled by the association, Taiwan’s machinery exports declined 5.9 percent year-on-year to US$13.8 billion in the first eight months of this year due to intense global competition.     [FULL  STORY]