Cabinet approves draft amendments to Foreign Trade Act

  • Date: 2019-05-16
  • Source: Department of Information Services, Executive Yuan

In order to put an effective stop to the practice of unscrupulous businesses importing into Taiwan goods manufactured in China only to re-label them or obtain fraudulent certifications of country of origin, the Cabinet on Thursday approved draft amendments to the Foreign Trade Act as drafted by the Ministry of Economic Affairs (MOEA).

Premier Su Tseng-chang said that the draft amendments will raise fines for violations and add rules governing rewards for whistle-blowers, changes aimed at protecting the nation’s trade advantages and upholding the “Made in Taiwan” (MIT) brand’s sterling reputation in global commerce. The draft revisions also call for increased criminal and administrative fines to provide protection for the export of strategic high-technology goods, to the degree required.

With tensions rising amidst the trade war between the U.S. and China, importing nations in the West are taking a stricter-than-ever approach in identifying country of origin. Premier Su directed the MOEA and the Ministry of Finance to take the initiative in conducting inspections and enhancing management techniques to effectively suppress illegal transshipments. Such efforts seek to prevent Taiwan from being drawn into the trade conflict between the U.S. and China, as well as preserve positive impressions of the MIT brand and safeguard the nation’s export competitiveness.

The draft amendments will now be forwarded to the Legislature for review.