Taiwan and Japan are close to concluding a mutual recognition agreement that will boost two-way trade in electronics and telecommunications by fast-tracking product accreditation and clearance procedures.
“We are working with our Japanese counterparts on negotiating the MRA via a building block approach,” Economics Minister Shih Yen-shiang said July 1.
The MRA, which could be finalized by year-end, will be another milestone in Taiwan-Japan economic relations following the bilateral investment arrangement signed September 2011.
According to the ROC Ministry of Economic Affairs, the MRA is a platform that allows signatories to accept each other’s product test results and equipment certifications. It does not require harmonization of technical requirements, nor other legally binding obligations.
Taiwan has inked similar MRAs on telecommunications with Australia, Canada, New Zealand, Singapore and the U.S.
In addition to the MRA, Taipei and Tokyo are looking to ink cooperation agreements on customs and financial services, as well as a memorandum of understanding on patent examination and anti-money laundering, the Association of East Asian Relations said.
The Taipei-headquartered AEAR oversees Taiwan’s relations with Japan in the absence of formal diplomatic relations. (JSM)
Write to Rachel Chan at ccchan@mofa.gov.tw