TAIPEI (TVBS News) — The Executive Yuan (行政院) on Thursday (Nov. 21) approved a draft amendment from the Ministry of Finance (MOF, 財政部) to exempt import tariffs on 17 items, including boneless pork and wheat flour, from Paraguay. This move fulfills Taiwan's tariff reduction commitments under the Agreement on Economic Cooperation Between the Republic of China (Taiwan) and the Republic of Paraguay.
MOF announced that the tax-free items encompass a wide range of products such as boneless pork, prepared or preserved beef offal, wheat flour, plastic bottles, socks and pants textiles, and base metal bottle caps. Also, tariffs on rice crackers will drop to 10%, while those on natural honey will decrease to 20% over three years. The amendment will take effect 30 days after both parties complete the necessary internal legal procedures and notify each other.
Michelle Lee (李慧芝), the spokesperson for the Executive Yuan, conveyed Premier Cho Jung-tai's (卓榮泰) statement at a press conference, emphasizing the draft aims to reduce trade barriers and expand bilateral economic and trade exchanges between Taiwan and Paraguay. Premier Cho instructed the MOF and relevant agencies to actively engage with the Legislative Yuan (立法院) and various political parties to expedite the legislative process.