Describes trade agreements this country is a party to. Includes resources where U.S. companies can get information on how to take advantage of these agreements.
Taiwan joined the WTO on January 1, 2002. Taiwan became a member of the Asia Pacific Economic Cooperation (APEC) in November 1991 and joined the Central American Bank for Economic Integration in 1992. Taiwan is also a member of the Asian Development Bank (ADB), the Pacific Economic Cooperation Council (PECC), and the Pacific Basin Economic Council (PBEC).
As of May 2020, Taiwan has signed four free trade agreements (FTA): one with Panama in August 2003, one with Guatemala in July 2005, one with Nicaragua in June 2006, and one with El Salvador and Honduras in May 2007. The FTAs with Panama and El Salvador are still operational, although Panama cut diplomatic ties with Taiwan in June 2017, and El Salvador followed suit in November 2018. In addition, Taiwan inked the Cross-Strait Economic Cooperation Framework Agreement (ECFA) with China in June 2010, and five Economic Cooperation Agreements (ECA): one with New Zealand in July 2013, one with Singapore in November 2013, one with Paraguay in February 2019, one with Eswatini in May 2019, and one with the Marshall Islands. The ECA with the Marshall Islands was signed in October 2019, and is currently under Legislative Yuan’s review for final approval. Further information about Taiwan’s bilateral and multilateral trade agreements is available on the Board of Foreign Trade’s (BOFT) website.