What will be the biggest benefits of WTO accession for Taiwan?
Taiwan is an export-oriented economy, so we hope that after we join the WTO we will be able to work in an international environment that is fair, just, and stable. We will gain [permanent] most-favored-nation treatment. We will be able to join in the formulation of international trade regulations, and we will be able to resolve trade disputes under the WTO’s Dispute Settlement Body. Q: What will be the most difficult aspects of WTO membership? A: After our market is opened, we will loosen our restrictions on agricultural imports. We will reduce tariffs and subsides for agricultural products. Therefore, our farmers are sure to feel a severe impact. Our farmers are small-scale and have high costs. It will be difficult for Taiwan to compete with products from abroad. We have estimated that about 100,000 farmers will lose their jobs. Q: How will this affect relations with the mainland? A: Since Taiwan and mainland China will both become WTO members and become two economies under an interna
