Taiwan’s Ministry of Economic Affairs (MOEA) announced it is close to concluding Environmental Goods Agreement (EGA) talks in Geneva, Switzerland, which would reduce tariffs for eco-friendly products including LEDlights, bikes, and recycled paper products. Taiwanese manufacturers are anticipated to benefit from the reduced tariff measures for LED lighting products that could lower the tax rate to 3%, 5%, or 8%, depending on the market the products are exported to.
Combined Taiwan’s top three eco-friendly products LED lighting, bikes, and recycled paper products generate an industry revenue of about NT $495.5 billion (US $15.51 billion). EGAs are an important trade talk at World Trade Organization (WTO), which is aimed at lowering tariffs of environmental products to facilitate trade, environmental development and benefits. Liberalization of environmental trade products will be used to fight climate change, promote green economic growth, and sustainable development. The EGA talks started in Jan. 24, 2014 and have underwent 18 rounds of talks before reaching the final stage, where talks take place between ministers. EGA negotiating countries include Taiwan, China, Hong Kong, Japan, Korea, EU and others. In total there are 17 members involved in the EGA talks.
Add: No.32 Tianhe Rd, Yuhang Development Area, Hangzhou, Zhejiang, China