Australian exports dip as NZ sees benefit of trade agreement with Taiwan

TAIPEI - Bilateral trade between Taiwan and Australia reached US$10.9 billion last year, making Australia Taiwan’s 13th-largest trade partner, but Australian exports to Taiwan fell by 7.26% in 2014, while exports from New Zealand increased 22.3% on the back of a trade agreement signed between Taiwan and NZ in 2013.

Commenting on bilateral economic consultations between Taiwan and Australia in Taipei this week, David Hsu, Deputy Director-General of Taiwan’s Bureau of Foreign Trade at the Ministry of Economic Affairs, said the MOEA was working with its Australian counterpart to address this issue, and expects to step up bilateral trade ties through regional economic integration initiatives such as the Trans-Pacific Partnership (TPP).
During this week’s talks, Hsu, said, Australia and Taiwan had agreed to promote a mutual Authorized Economic Operator certification programme to fast-track Customs clearance procedures. Australia had also agreed to consider further easing regulations on imports of Taiwan orchids, steel and tropical fruit.
He said the two sides had reached a consensus on expanding co-operation across the areas of culture, economy, education, tourism and trade.  “Canberra is also assessing the feasibility of granting local tourists online visa applications,” he said. www.taiwantoday.tw (ATI).