Taiwan will work to protect its economic interests in Panama: MOEA

The China Post
Date: June 13, 2017

TAIPEI, Taiwan — The Ministry of Economic Affairs (MOEA) said Tuesday that it will do its best to safeguard the interests of Taiwanese investors and companies that do business with Panama, after the Central American country switched diplomatic recognition from Taiwan to China.

The MOEA said that it is watching closely how the Ministry of Foreign Affairs (MOFA) handles a 2003 bilateral free trade agreement now that diplomatic ties between the two sides have been severed.

The two ministries will work closely together to deal with any fallout from Panama’s decision, the MOEA said, adding that it will seek to protect the interests of Taiwanese investors, businesspeople and Taiwan as a whole.

The FTA between Taiwan and Panama took effect on Jan. 1, 2004, granting tariff free status to 95 percent of Taiwan’s exports to Panama and 97 percent of Panama-made goods sold to Taiwan, according to the MOEA.    [FULL  STORY]

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