Myanmar has agreed to study the possibility of lowering its tariffs on imported Taiwanese fabrics in what is seen as a goodwill gesture following an economic dialogue between Taiwan and Myanmar, a Taiwanese news agency has reported.
Myanmar’s decision to consider tariff cut came after a Taiwanese delegation led by Yang Jen-ni, head of the Ministry of Economic Affairs’ Bureau of Foreign Trade, visited Yangon from September 9 to 12 and met economic authorities in the country.
After their meeting, the two sides signed a joint statement pledging to facilitate trade and investment between the two countries.
Importers of Taiwanese fabric in Myanmar are currently required to pay import duties of 5-15 per cent, according to the ministry. It did not say if fabrics made in other countries receive preferential tariff treatment from Myanmar.
The ministry said fabrics are one of Taiwan’s few important export items to Myanmar, accounting for 14 per cent of Taiwan’s outbound sales to the country with exports worth $ 32 million. (SH)