Taiwan actively seeks bilateral free trade agreements, though it is hampered in this effort by its status vis-a-vis China. It has FTAs already with Panama (2003), Guatemala (2005), Nicaragua (2006), El Salvador (2007) and Honduras (2007). It is negotiating with Dominican Republic and Paraguay. And it hopes to negotiate further deals with Costa Rica, Israel, Swaziland, Japan, the US of course, Korea, New Zealand, Singapore and Mexico. Taipei’s emphasis on Central American countries as FTA partners is to gain access to the US market under NAFTA and CAFTA. But now Taiwan is in talks with China for a possible FTA following the signing of the Economic Cooperation Framework Agreement (ECFA) between the two governments in 2010.
last update: May 2012
Photo: simonwai/CC BY-NC-SA 2.0
The news this week that the South Korea-U.S. free trade agreement came into force sent jitters through the ranks of Taiwan exporters. It is no secret that the island’s businesses have been doing it tough recently, and the last thing needed was more pain in sectors where they have been fighting hard to remain competitive.
Premier Sean Chen rebutted Friday speculations that the free trade talks between Taiwan and Singapore have been delayed, saying they are in progress.
Fast-tracking free trade agreement negotiations with Taiwan’s major partners will be a top priority for the Ministry of Economic Affairs, MOEA Minister Shih Yen-shiang said Feb. 1.
Highlighting its determination to enhance trade ties with foreign partners, the Ministry of Economic Affairs yesterday announced that Taiwan and Israel had reached a consensus over the establishment of a working group to study the feasibility of signing a free-trade agreement (FTA) by 2013.
Taiwan and New Zealand are taking the next step in their efforts to sign a bilateral economic cooperation agreement (ECA), moving now to a second feasibility study
The legislature yesterday approved an amendment to the appendix of the Taiwan-Panama free-trade agreement (FTA) allowing Panama to take full control of quota-setting and granting zero-tariff status to all in-quota sugar exports to Taiwan.
The Japanese Chamber of Commerce and Industry in Taipei (JCCI) urged Taiwan Friday to sign free trade agreements (FTAs) with more countries to enhance its investment competitiveness. "Taiwan tends to highly rely on China," Kyota Kishimoto, JCCI’s chairman, told reporters after a press conference to present an annual position paper to the Cabinet-level Council for Economic Planning and Development (CEPD).
Taiwan’s private sector needs to pull its weight if government policies aimed at offsetting the impact of the U.S.-South Korea free trade agreement are to succeed, Economic Affairs Minister Shih Yen-shiang said.
Taiwanese industries must prepare themselves for the impact of an upcoming free-trade agreement (FTA) between the US and South Korea, which might hurt local business opportunities in the US market, the Bureau of Foreign Trade (BOFT) said.
Taiwan and Japan signed their first investment accord, strengthening economic ties and stepping closer toward negotiating a free-trade deal.