It’s reported that Taiwanese screw industry expected that the government could sign the Free Trade Agreement (FTA) with Japan to improve the development in Japanese market.

In fact, Japan is one of the largest importers of Taiwanese screws. Though Japan was hit by devastating earthquake in March, Taiwan’s screw exports to the country still have good performance.

Accordingly to data, Taiwan exported 44,210 tons of screws in the first eight months of this year, soared by 16.09% year on year. In the given period, Taiwan’s screw export value to Japan surged by 33.58% to reach US$146.65 million in the first eight months of this year.

Besides, Taiwan’s average export prices of screw to Japan were at US$3.317/kg during January to August, increased by 15.07% year on year.

It’s known that Taiwan and Japan signed the Economic Cooperation Framework Agreement (ECFA) on September 22nd, which is expected to attract Japanese investors to put money in Taiwan.

Accordingly, industry sources said that it will help the two countries to sign Free Trade Agreement (FTA) in the near future.