Taiwan, India ink commercial goods carnet protocol

Park Sae-jin Reporter() | Posted : March 22, 2013, 15:12 | Updated : March 22, 2013, 15:12
Taiwan and India have signed a carnet protocol allowing temporary duty free admission for goods that will later be taken out of the country, a boon for organizers of trade shows and other activities, the Taiwan External Trade Development Council (TAITRA) said.

The signing took place between TAITRA and the Federation of Indian Chambers of Commerce and Industry in New Delhi Wednesday.

The pact will be implemented as soon as the two countries put procedures in place, TAITRA said.

TAITRA President and CEO Chao Yuen-chuan said the agreement will effectively help Taiwan companies explore overseas business opportunities.

Such an agreement means that all materials, display products and samples destined for use in trade shows or similar activities can be brought into the partner country without paying customs duties, provided such goods will be taken back out again, according to TAITRA.

India is the 43rd country to sign such an agreement with Taiwan. Negotiations began in 2004.
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