MercoPress. South Atlantic News Agency

Taiwan grants Paraguay zero tariffs to import 11 products

The Taiwanese Embassy in Asunción has conveyed to the Paraguayan Government tariffs had been cut down to zero for the purchase of 11 Paraguayan products under the Economic Cooperation Agreement already in force between the two countries.

Decree 7577 comes into force as of next Saturday, January 15, 2022, it was announced.

Paraguay's benefited products are frozen beef offal, prepared or preserved beef (hamburger meat) and rice paper. Extracts will also be exempted from tariffs for export to Taiwan; essences and concentrates of tea or yerba mate as well as preparations based on these extracts.

The Economic Cooperation Agreement's main objective is economic growth by promoting trade between both nations. This decision promotes and encourages us to continue working on cooperation ties between the two countries, which in addition to being friends are also partners, the Taiwanese authorities explained.

Taiwan offers multiple assistance to Paraguay through its Foundation for International Cooperation and Development in various fields (technical missions for the primary sector, assistance to small and medium-sized enterprises, as well as commercial promotion, among others) and also via donations.

Paraguayans students also have access to university scholarships and professional training on the island, offered by the Taiwanese Government, which also trains the local Police and Armed Forces.

Other fields of mutual cooperation include sports and cultural activities in Taiwanese institutions, including the teaching of the Spanish language, along with traditional musical and artistic performances.

Paraguay already exports to Taiwan products such as beef, soybeans, cotton, wood, leather, refined and organic sugar, yerba mate, essential oils and medicinal herbs. In 2017, Paraguay and

Taiwan signed an agreement to eliminate tariffs on 54 Paraguayan products. Taiwanese exports to Paraguay include vehicles and aircraft for the Paraguayan police and military.