Taiwan Aims for Global No. 3 Exporter of Machine Tools in 2011

Taipei, April 15, 2011 (CENS)--The cross-Taiwan Strait economic cooperation framework agreement (ECFA) will help to drive Taiwan's exports of machine tools to exceed US$4 billion this year, elbowing out Italy to take the top-three spot in exports of machine tools, says Hsu Hsiu-tsang, chairman of the Taiwan Association of Machinery Industry (TAMI).

Hsu says that China has become the world's largest consumer of machine tools, and that the ECFA and implementation of China's 12th five-year national economic development plan will achieve significant benefits for Taiwan's machine-tool manufacturers. Beginning from January 1 this year, Taiwan-made machine tools exported to China will enjoy gradual reduction in duties.

The ECFA allows some 107 Taiwan-made machines in its “fast-tracked gainers list,” including 17 machine-tools as CNC horizontal lathes, CNC surface grinding machines and grinders, and 37 accessories as forging and pressing tools, jigs and fixtures and ball screws.

The economic recovery worldwide last year helped to push Taiwan's machinery industry overall production value to NT$900 billion, up 32.35% year-on-year from NT$680 billion, of which the production value for machine tools totaled US$4 billion with export value reaching NT$3 billion.