No import duty on over 3,000 products starting in 2004

Taipei, Aug. 26, 2003 (CENS)--The government will remove all import customs duty on over 3,000 products in eight major categories beginning next year in order to fulfill the commitment for Taiwan's participation in the World Trade Organization (WTO).

Officials of the Ministry of Economic Affairs said the affected products fall mainly in the categories of pharmaceuticals, medical equipment, paper products, steel, construction machinery, agricultural machinery, furniture, and toys.

For other products, the government will also cut the respective customs tariff rates by one-third as part of the deal for the island's entry into the WTO. By the timetable, Taiwan will also open imports on diesel cars.

For info-tech products, the imports customs duty rates on some products (including semiconductors, semiconductor equipment, data processing equipment, and electronic parts and components) were scrapped in the past two years. But the tariff rates on other products will have to be lowered in 2004.

TWO members have started a new round of trade talks. The United States has been seeking to cut all customs tariff rates to 8% by 2010 and remove the import duty on all products with duty rates below 5%. For the second phase, the United States want to see all customs tariffs lifted in 2015.