Dec 8, 2016: As the Environmental Goods Agreement (EGA) talks in Geneva, Switzerland, enters its last phase, Taiwan’s Ministry of Economic Affairs (MOEA) said that the country’s LED industry can be hopeful to see tariffs for LED lighting products to reduce significantly.
Taiwanese LED manufacturers are likely to benefit from the reduced tariff for LED lighting products that could lower the tax rate to 3%, 5%, or 8%, depending on the market the products are exported to.
In 2014, Taiwan exported US $1.54 billion worth of LED lighting products, according to MOEA stats. Taiwan and Korea had submit a proposal of including LED lighting products at EGA negotiations.
EGA is an important trade talk at World Trade Organization (WTO), which aims to reduce tariffs of environmental products to facilitate environmental development, trade and benefitsfor the industry.
The EGA talks started in January 24, 2014, and underwent 18 rounds of talks before reaching the final stage, where talks take place between ministers. The 17 EGA negotiating countries include Taiwan, Hong Kong, China, Korea, Japan, EU and others.