FTA may cost Taiwan US$6bn: ministry

BEIJING-SEOUL DEAL:An Industrial Development Bureau official said that a previous evaluation of the impact of the trade deal was not run by the ministry

Taipei Times
Date: Apr 11, 2015
By: Lauly Li  /  Staff reporter

Taiwan’s industrial sector could lose US$6 billion at most and at least US$2.341 billion

Vice Minister of Economic Affairs Shen Jong-chin speaks in Taipei yesterday during the release of a report on the impact of the China-South Korea free-trade agreement. Photo: CNA

Vice Minister of Economic Affairs Shen Jong-chin speaks in Taipei yesterday during the release of a report on the impact of the China-South Korea free-trade agreement.
Photo: CNA

annually in the years after the China-South Korea free-trade agreement (FTA) goes into effect, the Ministry of Economic Affairs said yesterday.

The latest impact evaluation is far less than the ministry’s previous assessment of a potential loss of between NT$260 billion and NT$650 billion (US$8.32 billion to US$20.8 billion) per year, though the ministry denied it had provided the earlier report.

The ministry attributed the lower assessment to tariff reductions by China on goods imported from South Korea being less than the ministry had expected.     [FULL  STORY]

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