Taiwan and India have signed two bilateral agreements on December 18, 2018 to further boost trade and investment between the two countries.
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Taiwan and India have signed two bilateral agreements on December 18, 2018 to further boost trade and investment between the two countries. The two agreements of an updated version of the "Bilateral Investment Agreement (BIA)" and “Mutual Recognition of the Respective Authorized Economic Operation (AEO) Programs” were signed in Taipei by the Representative of the Taipei Economic and Cultural Center in India, Ambassador Tien Chung-kwang, and the Director-General of the India-Taipei Association, Mr. Sridharan Madhusudhanan, representing their respective governments.
The BIA, which was first signed in 2002, and coming into effect in 2005. The revised agreement covers not only direct investments made by Taiwanese businesses in India but also indirect investments via a third location.
It also will ensure protection for Taiwanese business investments in India, in line with international standards, and the safety and rights of Taiwanese investors.
India is Taiwan's 16th largest trade partner, importing US$3.30 billion worth of goods from Taiwan in 2017 and exporting US$3.06 billion in goods to Taiwan. The AEO programs make border processes more efficient for pre-approved businesses recognized as low risk so that it can facilitate trade for importers, exporters, carriers and others in their supply chains, as well as enhance marketability and global competitiveness.
