By: Kuan-lin Liu and Huang Ya-hsuan
Taipei, Feb. 3 (CNA) Four free trade related resolutions signed between Taiwan and El
Salvador went into effect on Saturday, allowing annual reductions in tariffs on specific exports to start taking place.
In a news statement issued Saturday, the Bureau of Foreign Trade said the terms of the resolutions will see annual reductions in tariffs on aloe vera juice, jello and tape from Taiwan, as well as dried pineapple, dried mango, dried plantain and dried banana from El Salvador.
The goal is to reduce the current 5-15 percent tariffs to zero in 10 years’ time by 2027, the bureau said, adding that this will make Taiwan’s products even more competitive on the international market. [FULL STORY]