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Ministry of Economic Affairs,R.O.C.

Enhancing foreign trade and economic patterns and diversity

Global deployment

As an insular, export-oriented economy, Taiwan views foreign trade as the backbone of its economic growth. Therefore, in order to enhance our international and regional links, diversify our foreign trade patterns, and reinforce the momentum of our export growth, the BOFT will continue with its trade promotion work and actively help our industries explore overseas markets in the following ways:

1.Participating in Multilateral Trade and Regional Economic Integration
(1)As part of our efforts to join the CPTPP, the Ministry of Economic Affairs has actively cooperated with the Office of Trade Negotiations of the Executive Yuan and the Ministry of Foreign Affairs to carry out adjustments to domestic regulations, as well as communicated with the public and industries. The government has been communicating informally with CPTPP members and is continuing to deepen economic and trade relations via bilateral channels and international fora such as APEC and the WTO.
(2)To actively participate in the WTO and APEC, we are strengthening our alliances with major countries such as the US, EU and Japan to promote international rules and collaborative initiatives that benefit our industries.

2.Strengthening regional partnerships through the New Southbound Policy
The New Southbound Policy aims to strengthen partnerships with the New Southbound countries by engaging in exchanges and cooperation in commerce, industry, science and technology, culture, tourism, education and people-to-people ties, thereby creating a new model of collaboration for mutual benefit.

3.Strengthening economic cooperation with our major trading partners
To strengthen economic and industrial cooperation with our major trading partners and diplomatic allies, we are helping to establish bilateral industrial linkages and create business opportunities in order to eliminate trade and investment barriers and deepen SME cooperation.

4.Improving trade management to protect the exportation rights of our businesses
(1)The Ministry of Economic Affairs assists businesses in expanding their overseas markets through a multi-faceted approach, such as planning intensive promotional activities domestically and internationally, building the export capabilities of manufacturers, providing counselling services for marketing, strengthening overseas services and enhancing the image of Taiwan's industries.
(2)In order to promote the development of the MICE industry and spur advanced MICE facilities, exhibition centers in Tainan, Taoyuan and Taichung have been built.

5.Improving trade management and safeguarding the rights of exporters
(1)Measures have been enhanced to prevent illegal trans-shipments, trade monitoring and import/export management have been strengthened, collaboration between the Ministry of Transportation and Communications and the Customs Administration under the Ministry of Finance has been tightened, and administrative fines and penalties on importer/exporters who conduct illegal trans-shipments or use fraudulent certificates of origin have been imposed.
(2)In order to assist our industries cope with trade remedy investigations against Taiwan, we not only provide financial aid for businesses to contract legal and accounting services, but also request consultations with the remedy-imposing country so as to ensure our trading rights.
(3)In order to fulfill our international responsibilities and protect the interests of our businesses, we have established a Strategic High-Tech Commodities management system to thoroughly implement export control measures. We will continue to reference the norms and practices of international export control regimes and enhance our management system.
Bureau of Foreign Trade, MOEA(BOFT)