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  • Taiwan’s petrochemical industry unfazed by ECFA termination

    The termination of the Economic Cooperation Framework Agreement (ECFA) has raised concerns about its impact on Taiwan’s petrochemical industry. However, corporate entities in Taiwan have stated that the impact has been limited. This is due to Taiwan’s efforts to reduce its dependency on China for exports, as China increases its domestic supply of petrochemical products. Taiwanese firms are expanding into other export markets and focusing on enhancing the competitiveness of their high-value products. The move is a response to China’s accusations of discriminatory bans and restrictive measures on Chinese products, which China’s Customs Tariff Commission of the State Council sees as violating the ECFA. The ECFA’s "Early Harvest List" included 88 tax reductions on Taiwan’s petrochemical industry by China. With the suspension of tariff privileges, these corporations anticipate that the tax rate on associated products could rise from the current 0% to between 2% and 10%.
    2023/12/22 18:10
  • Tsai meets World Baker of Year, praises Taiwan’s creativity

    President Tsai Ing-wen met with Justin Wu, the 2023 World Baker of the Year, to recognize his contribution in promoting Taiwan’s baking industry globally. The government is actively supporting the industry’s growth and international engagement. Wu, who won the group competition at the Coupe du Monde de la Boulangerie last year, was honored with the World Baker of the Year title by the Unibread Bread Baking Championships this year. He has showcased his creativity by creating an art bread piece inspired by the Seediq tribe and coaching the Taiwanese team to victory at the UIBC Junior World Championship. President Tsai highlighted the value of Taiwan’s baking industry, which exceeds NT$100 billion, and praised the diverse and exquisite styles of Taiwanese bakers at global competitions. She also expressed gratitude to the Taipei Bakery Association for their efforts in passing down experience and hosting international contests in Taiwan. President Tsai expects the bakery sector to continue delivering high quality and innovative products as it expands its market and introduces Taiwan’s delicious baked goods to the world.
    2023/12/19 16:46
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