Taipei Times
Date: Dec 18, 2015
By: Lauly Li / Staff reporter
The Ministry of Economic Affairs yesterday said that 136 Taiwanese
Vice Minister of Economic Affairs Bill Cho said yesterday joining the expanded ITA would help Taiwanese manufacturers save a lot on tariff costs. Photo: Taipei Times
products included in the WTO’s expanded tariff-reduction program for information technology products would benefit after the program takes effect on July 1 next year.
“Joining the expanded ITA would help Taiwanese manufacturers save a lot on tariff costs,” Vice Minister of Economic Affairs Bill Cho (卓士昭) told a press conference, referring to the Information Technology Agreement.
The ministry’s remarks came after the WTO’s ministerial meeting on Wednesday in Nairobi, Kenya, concluded negotiations on the expanded ITA. Members agreed to remove duties on 201 information technology products — valued at US$1.3 trillion — within seven years after the accord takes effect.
The ministry said the 136 products — or 68 percent of the 201 products — would have a direct impact on the interests of Taiwanese manufacturers, helping them save an estimated US$820 million in annual tariff expenses.
Taiwanese exports of LED backlight modules could save US$233.9 million in costs per year once the duties are removed, Industrial Development Bureau Deputy Director-General Leu Jang-hwa (呂正華) said. [FULL STORY]
