04 March 2009 10:38 [Source: ICIS news]
By Judith Wang
SHANGHAI (ICIS news)--Taiwan should rush a trade pact with China to remove all existing tariff on its petrochemical exports into the mainland, an advantage that its ASEAN neighbours will have next year, a high-ranking official of the Taiwan Synthetic Resins Manufacturers Association (TSRMA) said on Wednesday.
"Once petrochemical cargoes from ASEAN members flow into ?xml:namespace>
Come next year, these barriers to trade will either be substantially reduced if not completely eliminated under the China-ASEAN free trade agreement.
Taiwanese petrochemicals, plastics and textile products flowing into
"The zero tariff is extremely urgent for
According to a report from Taiwan Economic News, the Ministry of Economic Affairs (MOEA) had drafted the Comprehensive Economic Cooperation Agreement (CECA) with
“The Taiwanese economy and the petrochemical industry will not recover in a short period,” said Wang, adding that the country will need more than a year to be on steady footing.
But at least the country’s petrochemical industry has not suffered any large-scale bankruptcies and massive job losses like its counterparts in the
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