Trade Policy and Regulations in Taiwan
Foreign Trade in Figures
Foreign trade has been Taiwan's growth driver, representing almost 130% of the GDP (2007-2009 average). Taiwan's economy remains very export-oriented, so much so that it depends on an open world trade regime and remains vulnerable to downturns of the world economy. The electronics sector is Taiwan's most important industrial export sector and also the one that receives most of the American investment. Taiwan, as an independent economy, became a member of the World Trade Organization (WTO) as the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu ("Chinese Taipei") in January 2002. Taiwan main exports partners are China, Hong Kong, United States and Japan. For more information, refer to the COMTRADE website. The island shows a surplus trade balance and this trend should continue in the coming years.
- Main International Economic Cooperation
- Member of
World Trade Organisation
In addition to the WTO, Taiwan is a member of the Asian Development Bank as "Taipei, China" and the Asia-Pacific Economic Cooperation (APEC) forum as "Chinese Taipei". These developments reflect Taiwan's economic importance and its desire to become further integrated into the global economy. Taiwan and China have signed in 2010 an Economic Cooperation Framework Agreement which plans to facilitate trade between the two "partners" in organizing the progressive reduction of tariffs on hundreds of goods and facilitating the opening of some service industries.
- Assessment of Commercial Policy
Barriers to exchanges
Barriers to exchanges
Sanitary and phytosanitary barriers
- Average Customs Duty (Excluding Agricultural Products)
- The duties payable on imported goods are essentially defined on an ad valorem, specific, or selective basis, depending on the items involved. At present the average nominal tariff rate is 8.25% and the average effective rate is 3.25%.
- Useful Resources
Taipei custom office.
- National Organization of Intellectual Property
- In order to register a patent, a trademark or a technical design, it is necessary to present it beforehand to The Intellectual Property Office and apply to an expert in Taiwanese patents recognized by the authorities.
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