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Ministry of Economic Affairs,R.O.C.

Enhancing foreign trade and economic patterns and diversity

Global deployment

As an export-oriented economy, Taiwan's economic development relies heavily on external trade. Therefore, to enhance our international and regional linkages, diversify our trade patterns and manufacturing locations, and reinforce the momentum of our export growth, the BOFT continues to organize various trade promotion work to help our industries compete for global business opportunities. Our specific practices include:

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 also 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, those in the 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 emphasizes partnerships that strengthen exchanges and cooperation in commerce, industry, science and technology, culture, tourism, education and people-to-people ties, so as to create a new model of collaboration that is mutually beneficial and win-win.

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, eliminating trade and investment barriers and deepening SME cooperation.

4.Planning for diversified marketing and enhancing the MICE Industry
(1)The Ministry of Economic Affairs assists businesses with their overseas market expansion through a multi-faceted approach, such as planning frequent 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 enhance professional exhibition and conference facilities, the Ministry continues to build the exhibition centers in Tainan and Taoyuan.

5.Improving trade management and safeguarding the rights of exporters
(1)Measures have been enhanced to prevent illegal trans-shipments, strengthen trade monitoring and import/export management, and boost collaboration between the Ministry of Transportation and Communications and the Customs Administration under the Ministry of Finance to ensure that importer/exporters who conduct illegal trans-shipments or use fraudulent certificates of origin are penalized.
(2)In order to assist our industries cope with trade remedy investigations against Taiwan, we provide financial aid to businesses for hiring legal and accounting services, and request consultations with the investigating country to fight for the interests of our traders.
(3)We reference international standards in setting up our export/import management system for Strategic High-Tech Commodities to help the industry properly manage their trade.
Bureau of Foreign Trade, MOEA(BOFT)