🍎 🍕 Less apples, more pizza 🤔 Have you seen Buffett’s portfolio recently?Explore for Free

Taiwan agrees to fully open to Canadian beef imports ahead of trade deal

Published 06/15/2023, 02:45 PM
Updated 06/15/2023, 02:53 PM
© Reuters. FILE PHOTO: Beef cattle at the Kasko Cattle feedlot, which are affected by a supply chain blockage caused by coronavirus disease (COVID-19) outbreaks at meat-packing plants, in Coaldale, Alberta, Canada May 6, 2020. REUTERS/Todd Korol/File Photo

TAIPEI (Reuters) - Taiwan's government on Thursday agreed to fully open its market to imports of Canadian beef, lifting a stumbling block as Taipei angles to sign a bilateral investment agreement with Ottawa this year.

Taiwan had previously banned imports of Canadian beef slaughtered more than 30 months earlier due to concerns about bovine spongiform encephalopathy (BSE), or mad cow disease.

Taiwan's Cabinet said in a statement following a weekly meeting that it had approved the full opening of beef imports from Canada, though the island's food and drug administration said six items of offal including brains and eyes would still be banned on safety fears.

Taiwan lifted a similar 30-month-aged ban on U.S beef in 2021. The island produces little beef itself and most relies on imports from the United States, Australia and New Zealand.

Canada's government said it May that its beef exporters would soon have full access to the Taiwanese market, after their top trade officials met at an Asia Pacific Economic Cooperation (APEC) meeting.

Taiwan has been in talks with Canada for a deal to encourage two-way investment called the Foreign Investment Promotion and Protection Arrangement.

© Reuters. FILE PHOTO: Beef cattle at the Kasko Cattle feedlot, which are affected by a supply chain blockage caused by coronavirus disease (COVID-19) outbreaks at meat-packing plants, in Coaldale, Alberta, Canada May 6, 2020. REUTERS/Todd Korol/File Photo

Taiwan's top trade negotiator John Deng said this month that he expected the deal to be signed this year.

Taiwanese media has previously reported the beef issue had been a stumbling block in those talks.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.