Taiwan Has Become Yiwu’s Largest Commodity Exporter

by | Sep 25, 2010 | Yiwu News | 0 comments

Taiwan Has Become Yiwu’s Largest Commodity Exporter

It is informed from Yiwu City Foreign Trade Bureau that from January to May this year, the amount of products imported from Taiwan is up to $ 28,770,000, increased by 66.75% compared with the same period last year. From the data point of view, Taiwan has become the largest commodity exporter of Yiwu and the second largest is Italy with import value of $ 20,470,000 in the first 5 months.

Another piece of news which is paid high attention to by investors is that “Cross-Strait Economic Cooperation Framework Agreement” (referred to as the “ECFA”) was formally signed the day before yesterday in Chongqing. According to the agreement, the two sides will make tariff adjustments on hundreds of products for import and export and in 3 steps achieve zero-tariff on previous harvested products in less than 2 years.

Yiwu City Foreign Trade Bureau personnel said that “ECFA” will promote trade and economic exchanges between Yiwu and Taiwan. In the future, Yiwu people can buy cheaper Taiwan products and Yiwu enterprises can also procure more investment opportunities.

Cheaper Taiwan Fruit and Cookies

“Details of the agreement, once implemented, can significantly reduce tariff cost.” Manager of the Taiwan Museum of Music Dream in Yiwu International Trade City Gao Longlong has been highly concerned about the “ECFA” progress these days. He noted that Taiwan food that his company sells may also on the list of tariff reduction.

The bright spot of “ECFA” is that according to the Previous Harvest Programme, China will implement tariff reduction on 539 products originally produced in Taiwan, including agricultural products, chemical products, mechanical products and electronic products etc., altogether ten categories>>Browse Yiwu market.

“Music Dream” in Taiwan is a considerably famous chain. Stationed in Yiwu two years ago, it mainly operates in products imported from Taiwan, Japan, Bali and other places. Manager Gao said, “According to current standards, tariff costs of Taiwan biscuit, melon shells and other food account for about 20% to 50% of the unit price. Once the agreement is formally implemented, import prices will be significantly reduced. For example, if one box of biscuits sells 3 yuan in Taiwan and 5 yuan on mainland, it may be reduced to 4 yuan if tariffs are removed.

In aspects of agricultural products, this tax-cut involves 18 items, including dragon fruit, oranges, tea, Pacific saury, Oncidium flowers, mushroom and so on. Yiwu citizens can eat more fresh and cheap Taiwan fruits in the future.

Yiwu Enterprises Want to Seek Business Opportunities

After the “Three Direct Links”, economic and trade exchanges between Yiwu and Taiwan have become more often. The signation of “ECFA” brought a new business opportunity for Yiwu enterprises. Apart from import, Yiwu enterprises may also seek opportunities from export and investment in Taiwan.

Mr Gao said, “Located in Yiwu, our company does not only sell imported products, another function is to collect all kinds of products in Yiwu and send data back to Taiwan headquarter for scheduling. If tariff cost is reduced, company may increase purchase.
Yiwu Foreign Trade and Economic Bureau personnel revealed that Yiwu private enterprises will procure more business opportunities due to the reduction of economic and trade cost between Taiwan and Yiwu.

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