*Taiwan’s executive branch (Yuan) has approved draft amendments proposed by the finance ministry to eliminate tariffs on 17 products from Paraguay, according to Taiwan’s national news agency, Central News Agency (CNA). According to CNA, under the amendments, 17 products, including “Paraguayan boneless pork, prepared or preserved beef offal, wheat powder, plastic bottles, socks, and pants”, would benefit from tariff-free status. It adds that tariffs for rice crackers would be reduced to 10%, and those for natural honey, to 20% in three years. In line with an agreement on economic cooperation (ECA) between the two countries which took effect in 2018, the amendments will take effect within 30 days of both countries completing legislative rectification procedures. Paraguay is the only South American country which maintains diplomatic ties with Taiwan.
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LatinNews Daily - 22 November 2024
In brief: Taiwan eliminates tariffs on 17 Paraguayan products
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