Taiwan to add NT$50 billion in agricultural exports if CPTPP bid successful

Date: 2021.10.05

Taiwan can expect to add NT$50 billion (US$1.8 billion) worth of agricultural exports if allowed to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), according to an estimate by the Council of Agriculture (COA).

The figure was presented Monday (Sept. 27) in a briefing on the potential fallout of Taiwan’s accession to the 11-nation trade bloc. The National Development Council has predicted Taiwan’s agriculture and auto component sectors could bear the brunt of the deal.

Stressing the need for the country to enter the free trade group, COA Minister Chen Chi-chung (陳吉仲) said he believes Taiwan’s tuna, edamame pods, and eel exports to Japan would enjoy a 6% to 20% cut in tariffs if it becomes a member. Taiwan will see a boost of NT$50 billion in agricultural exports, reaching NT$200 billion in total, in five years, the Liberty Times cited Chen as saying.

However, at least 20 agricultural products are set to suffer if the Taiwanese market opens up, the authorities have determined, including rice, garlic, peanuts, mangoes, chicken, longan, and persimmons.

Read more here.

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