The current situation of Taiwan’s agricultural trade and signing of free trade agreements
1. The current situation of Taiwan’s agricultural trade
(1) In 2016, the total value of imports of agriproducts into Taiwan was US$14.2 billion, while the total value of exports from Taiwan to the world was US$4.7 billion, resulting in a agricultural trade deficit of US$9.5 billion.
(2) In 2016, the top ten source countries for imports of agriproducts into Taiwan were the US, Japan, mainland China, Brazil, Australia, New Zealand, Thailand, Malaysia, France, and the UK. The major imported agriproducts included alcoholic beverages, soybean, corn, tobacco products, beef, wheat, apples, powdered milk, cotton, and plywood.
(3) In 2016, the top ten target markets for exports of agriproducts from Taiwan were mainland China, Japan, the US, Vietnam, Hong Kong, Thailand, Korea, Indonesia, Australia, and Mauritius. The major exported agriproducts included tuna, cow leather, feather and down, baked cookies, bonito, Phalaenopsis orchids, grouper, and Pacific saury.
2. Free trade agreements or economic cooperation agreements already signed by Taiwan
(1) Since 2004 Taiwan has signed seven free trade agreements or economic cooperation agreements, which are helpful to promoting agricultural trade between Taiwan and the signatory nations.
(2) The years in which free trade agreements or economic cooperation agreements signed by Taiwan entered into force are as follows:
| Free trade agreement or economic cooperation agreement | Signatory nation(s) | Year of entry into force |
|---|---|---|
| Free Trade Agreement between the Republic of China and the Republic of Panama | Panama | 2004 |
| Free Trade Agreement between the Republic of China (Taiwan) and the Republic of Guatemala | Guatemala | 2006 |
| Free Trade Agreement between the Republic of China (Taiwan) and the Republic of Nicaragua | Nicaragua | 2008 |
| Free Trade Agreement between the Republic of China (Taiwan), the Republic of El Salvador and the Republic of Honduras | El Salvador and Honduras | 2008 |
| The Cross-Strait Economic Cooperation Framework Agreement | Mainland China | 2010 |
| Agreement between New Zealand and the Separate Customs Territory of Taiwan, Penghu, Kinmen, and Matsu on Economic Cooperation | New Zealand | 2013 |
| Agreement between Singapore and the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu on Economic Partnership | Singapore | 2013 |
