Decision No. 8 of the Agreement on Economic Cooperation between the Republic of China (Taiwan) and the Republic of Paraguay formally entered into force on July 5, 2025.
This decision grants tariff concessions on 17 products and reduces tariffs on two additional items. One of the items, namely natural honey, will have its tariff reduced in three stages, to 30% in the first year, 25% in the second year, and 20% in the third year. The tariff on rice crackers will be reduced to 10%. The products on which tariffs will be eliminated include two swine items, one prepared or preserved offal item of bovine, and other industrial or consumer products, such as wheat flour, industrial ethyl alcohol, plastic bottles, various clothing items, etc.
Both sides look forward to the benefits and business opportunities the new tariff reductions will bring to bilateral trade. More details about Decision No. 8 are available at the following website: https://fta.trade.gov.tw/
