Taiwan, Australia expand bilateral ties

2015/07/17

Taiwan and Australia wrapped up the Bilateral Economic Consultations July 14-15 in Taipei City, reaching a consensus on expanding cooperation across the areas of culture, economy, education, tourism and trade.

A major takeaway from the annual talks includes an agreement to continue negotiations for such initiatives as environmental goods, information communications technology and trade in services agreements under the multilateral World Trade Organization framework. In addition, both sides will bolster trade facilitation in the run up to the 10th WTO ministerial conference scheduled for December in Nairobi, Kenya.

“Based on a firm belief in the merits of trade liberalization, we have made significant headway in easing barriers for two-way commerce,” said David Hsu, deputy director-general of the Bureau of Foreign Trade at the Ministry of Economic Affairs.

“Part of this involves both sides agreeing to promote the mutual Authorized Economic Operator certification program for fast-tracking customs clearance procedures and increasing business opportunities. Another achievement is Australia’s decision to mull further easing regulations on imports of Taiwan’s orchids, steel and tropical fruit.”

Considerable advances were achieved in people-to-people exchanges as well, Hsu said, adding that a proposal is under consideration to strengthen collaboration on aboriginal culture, student exchanges, vocational training and working holidays. “Canberra is also assessing the feasibility of granting local tourists online visa applications.”

MOEA statistics show that bilateral trade between Taiwan and Australia reached US$10.9 billion last year, making Australia Taiwan’s 13th-largest trade partner.

Australian exports to Taiwan, however, declined 7.26 percent in 2014, whereas exports from New Zealand increased 22.3 percent on the back of the Agreement between New Zealand and the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu on Economic Cooperation signed in 2013.

“The MOEA is working with its Australian counterpart to address this issue, and expects to step up bilateral trade ties through regional economic integration initiatives such as Trans-Pacific Partnership,” Hsu added.

Source: Taiwan Today (http://taiwantoday.tw/ct.asp?xItem=232661&ctNode=413)