Executive Yuan approves total trade ban with North Korea

  • Date: 2017-09-22
  • Source: Department of Information Services, Executive Yuan

Premier Lai Ching-te today approved a blanket suspension of bilateral trade between Taiwan and North Korea, following the implementation of sanctions against Pyongyang by the world’s nations in the wake of its repeated tests of ballistic missiles and nuclear weapons, said Executive Yuan Spokesperson Hsu Kuo-yung. Publication of the measure is expected to come next week.

Spokesperson Hsu said that the suspension of trade comes in response to the grave threat to national security and the international order posed by North Korea’s recent moves. The government of Taiwan condemns any action that could disrupt regional peace and stability, and the trade ban matches similar steps taken by the international community to help maintain regional order and stability.

The blanket suspension of trade was ordered in accordance with Article 5 of the Foreign Trade Act, which authorizes the Executive Yuan to ban trade with certain countries for national security purposes. The ban must be submitted to the Legislative Yuan for ratification within one month of publication.

The premier also ruled out the possibility of any exceptions to the ban under Article 8 of the Enforcement Rules of the Foreign Trade Act. Article 8 allows continued trading where a permit for export or import has been issued, payment or payment arrangements made, or goods already shipped prior to a ban’s publication.

Spokesperson Hsu emphasized that as a member of the international community, Taiwan has joined countries throughout the world in implementing sanctions and related measures against North Korea. Taiwan also calls on the North Korean authorities to heed the many resolutions passed by the United Nations Security Council, and cease immediately all actions that could jeopardize the world’s shared efforts to secure the peace, stability and prosperity of East Asia.