Latest update May 31st, 2020 7:47 AM
Dec 28, 2018
Comments Off on Taiwan-Eswatini Economic Cooperation Agreement takes effect from 27 December 2018
The Economic Cooperation
Agreement (ECA) signed between Taiwan's Minister Shen and former Eswatini
Minister Mabuza on 8 June 2018 took effect on 27 December this year.
The Agreement is
aimed at strengthening cooperation on economy, trade, technology and investment.
It is also dedicated to ensure sustainable development through environmental
protection, as well as contributing to better living standards, adequate
employment and considerable and stable income growth. It is expected that the
ECA will deepen bilateral trade and investment cooperation and solidify
further assist Eswatinian products enter Taiwan, the ECA provides preferential
tariff treatment for 153 items including cane sugar, beef, pork, grapefruit,
vegetables, pine wood and textile products for which tariffs were immediately
or will be in stages reduced to zero. It is expected that Eswatinian exports to
Taiwan will continue to grow, and benefit both sides by further allowing our
consumers to enjoy high quality Eswatinian products.
Taiwanese companies are established in Eswatini, having invested mainly in the
textiles industry. After the Taiwan-Eswatini ECA takes effect, Eswatini will
provide better investment protection and benefits to our businesses to attract
more investments to Eswatini.
clearly an important ally and trade partner to Taiwan. The ECA will allow us to
make use of Eswatini's advantageous geographical location in Africa and its
preferential terms under the various FTAs it has signed with other countries.
Eswatini can serve well as a center for expanding the African market and for developing
third country markets. The experience gained from these efforts can also be
applied to our relations with other African countries and create mutually
beneficial, win-win arrangements
Source: Bureau of Foreign Trade