Africa-Press – Eswatini. The Republic of China (Taiwan) is now the largest export destination for Eswatini in Asia.
Taiwan has surpassed Mainland China, Japan and India with ethanol, citrus, sauces, cotton, and honey, accounting for the largest share of Eswatini exports to Taiwan, making by far Eswatini’s largest export destination in Asia and one of the largest in the world. On November 10, 2023, Taiwan’s Legislative Yuan (i.e. Taiwan’s Parliament) passed the Amendments to Taiwan’s Customs Import Tariff Schedule, effectively increasing the number of Eswatini products granted tariff-free treatment into Taiwan from 153 product lines to 199 product lines, by adding 46 new items unto the list of Taiwan’s Tariffs Concessions to Eswatini, under the Economic Cooperation Agreement between the two countries.
Added
The newly-added 46 products items include; textile garments, nuts, molasses, brewed drinks, dried onions, vegetable juices, and many others. The Economic Cooperation Agreement is a preferential trade agreement, signed on June 8, 2018 in Taipei, between the two governments, in the presence of His Majesty King Mswati III and President Tsai Ing-Wen. Since the Agreement took effect in December 2018, the bilateral trade, between Taiwan and Eswatini has grown from U$7.6 million (E143.2 million) in 2017 to U$16.1 million (E303.4 million) in 2022, representing a growth of 112 per cent, as revealed by the Embassy of Taiwan in Eswatini.
Grown
Meanwhile, Taiwanese purchase of Eswatini products has even grown 33 fold to nearly U$6 million (E113 million) in 2022. It is expected that the bilateral trade between Taiwan and Eswatini will grow further, with more and more Eswatini products granted tariff treatment into Taiwan.
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