Taiwan should further ease COVID-19 controls and also allow wine sales online to make doing business here more attractive, the Australia New Zealand Chamber of Commerce in Taipei (ANZCham) said yesterday.
ANZCham made the comment as it released its annual discussion paper, as trade among the three economies flourishes.
The removal last month of quarantine requirements for visitors to Taiwan is a big step in opening up the borders, but a clear policy roadmap is still lacking from the government to deal with COVID-19 compared with other parts of the world, particularly the formulation of clear, easy-to-follow and practical policies to support businesses and individuals, ANZCham said.
“COVID-19 will be around indefinitely, and the three countries need to enter into discussions on how to cooperate in the long term and establish a new normalcy,” it said.
Having policies that are aligned is critical to ensure the three economies thrive, it said.
More than 2,300 Australian companies trade with Taiwan, one of the highest levels for any market, it said.
Two-way trade in the first eight months of this year soared 83 percent year-on-year to a record, making Taiwan Australia’s fifth-largest export market, it said.
Sales of alcoholic beverages online is prohibited in Taiwan, except via approved, monitored platforms, the paper said.
In other markets, online wine sales have been effectively regulated to provide convenience while avoiding social harm, ANZCham added.
Taiwan is one of the top wine-consuming markets and has the highest proportion of e-commerce shoppers in Asia, as COVID-19 social distancing measures have benefitted e-commerce and changed purchasing behavior, it said.
Providing Taiwan’s wine-drinking community with a legal regime to make purchases online would bring Taiwan closer to international norms and stimulate further growth in its e-commerce, the paper said.
In addition, Australian agriculture and supplement products face significant tariffs to enter the local market even though such goods are in high demand, it said.
For example, New Zealand has reported substantial growth since Taipei and Wellington signed a free-trade agreement in 2013, it said, adding that as of last year 99.6 percent of New Zealand goods enter Taiwan with no tariffs.
The availability of skilled workers, reasonable wages and a stable currency are positive factors for doing business in Taiwan, ANZCham said.
Even so, there are several issues hindering the establishment, growth and efficiency of foreign-owned businesses in Taiwan, it said.
These issues include a shortage of international schools compared with other countries in the region, and long lead times for setting up business entities and bank accounts, it said.
Combined lead time is five to six months here, compared with a few days or weeks elsewhere, it said.
Measures should be put in place and barriers removed to make Taiwan more attractive and convenient for investment and doing business, it said.
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