Taiwan's businesses may in future use India and Bangladesh as a springboard to enter the South Asian Free Trade Agreement (SAFTA) trade network, Wu Fu-cheng (吳福成), deputy director of the Taiwan Institute of Economic Research's (台經院) Division of International Affairs, said at a seminar yesterday.
"Taiwan's businesses can use `made in India' and `made in Bangladesh' products to expand business throughout SAFTA member countries, while enjoying lower tariffs, or zero tariffs. Since Taiwan is not a member of any trade zone, it can enter other markets via India and Bangladesh," Wu said at a seminar on investment in India and Bangladesh sponsored by the Taiwan External Trade Development Council (TAITRA,
Wu pointed out that since SAFTA took effect on Jan. 1 this year, entering the South Asian market will allow Taiwanese businesses to enjoy favorable treatment.
"Taiwan can also use India's free-trade agreement with other [non-SAFTA] countries to enjoy reduced tariffs, Wu said.
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