The Economic Cooperation Framework Agreement across the Taiwan Strait will take effect on January 1st. At that time, 33 types of auto parts will enjoy a tariff reduction to 5 percent from 10 percent. Many Taiwan auto parts businesses are taking advantage of the opportunity to cash in on the mainland market.
17 Taiwan auto parts manufacturers have gathered to promote high quality auto parts to mainland distributors. This year Taiwan is estimated to export almost 68 million US dollars worth of auto parts to the mainland. And the tariff reduction to 5 percent will bring more benefits to the Taiwan manufacturers.
Zhang Qishen, Director of Beijing Office, Taipei World Trade Center said "The mainland's auto production and sales both rank the first around the world. And there are nearly 5 million cars in Beijing. It's apparently a large market and has huge potential."
The Taiwan auto parts industry hopes to further cooperate with its mainland partners and offer multi-layered choices to the consumers. Since many auto parts the Chinese mainland imports from European and American markets are manufactured in Taiwan, and the import tax is very high, this tariff reduction will greatly benefit consumers.
17 Taiwan auto parts manufacturers have gathered to promote high quality auto parts to mainland distributors. This year Taiwan is estimated to export almost 68 million US dollars worth of auto parts to the mainland. And the tariff reduction to 5 percent will bring more benefits to the Taiwan manufacturers.
Zhang Qishen, Director of Beijing Office, Taipei World Trade Center said "The mainland's auto production and sales both rank the first around the world. And there are nearly 5 million cars in Beijing. It's apparently a large market and has huge potential."
The Taiwan auto parts industry hopes to further cooperate with its mainland partners and offer multi-layered choices to the consumers. Since many auto parts the Chinese mainland imports from European and American markets are manufactured in Taiwan, and the import tax is very high, this tariff reduction will greatly benefit consumers.
