Taiwan Signs Free Trade Agreement with Nicaragua

       Following its free trade agreements with Panama and Guatemala, Taiwan signed another FTA with Nicaragua on June 16. Premier Su Tseng-Chang indicates that in the future, the government will continue using public and private resources to expand the program of establishing FTAs with other major trading partners and diplomatic allies with an open and flexible attitude. The aim of this effort is to enlarge Taiwan’s external trade network.

Once the new FTA becomes effective, an estimated 3,374 product items (covering 51.1% of all products) from Nicaragua will enjoy duty-free entry into Taiwan and 5,797 Taiwanese products (covering 65.6% of the total) will be allowed into Nicaragua duty-free. After 15 years 97.3% of all Nicaraguan products will be imported into Taiwan duty-free, and 95.1% of all Taiwanese products will have free entry into Nicaragua. This will create a win-win situation for the two countries in terms of industry, agriculture, finance, telecommunications, environment, labor, and intellectual property rights.

The Ministry of Economic Affairs, which is responsible for the negotiation of FTAs, reports that FTA talks with El Salvador and Honduras were initiated in May this year, and that if all goes well the two new FTAs will be signed by the end of this year. 

For more information please visit this website: http://ekm92.trade.gov.tw/BOFT/web/report_list.jsp?data_base_id=DB009&category_id=CAT2410

Back to News Page