Beer exports to Singapore to be raised by trade pact
April 17, 2014, 12:00 am TWN
TAIPEI -- Taiwan's beer exports to Singapore are expected to grow by 50-100 percent year-on-year in 2014 once a trade pact between the two sides takes effect April 19, Taiwan's main trade promotion body said.
Under the Agreement between Singapore and the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu on Economic Partnership (ASTEP), Taiwan's alcohol exports to the city state will receive duty-free treatment.
Exports of Taiwan beer to Singapore totaled some NT$30 million (US$993,081) in 2013 and are expected to grow 50-100 percent this year due to the zero-tariff treatment, the Taiwan External Trade Development Council (TAITRA) said in a statement, citing forecasts by the Taiwan Tobacco and Liquor Corp.