Taipei: The Executive Yuan has approved draft amendments proposed by the Ministry of Finance to eliminate tariffs on 17 products from Paraguay, marking a significant step in enhancing trade relations between the two countries. According to Focus Taiwan, the amendments to the Customs Import Tariff Act are based on a tariff concession list contained in Resolution 8 under the Agreement on Economic Cooperation between Taiwan and Paraguay. This initiative aims to remove trade barriers and facilitate smoother economic interactions between the nations. The proposed amendments will grant tariff-free status to 17 Paraguayan products, including boneless pork, prepared or preserved beef offal, wheat powder, plastic bottles, socks, and pants. Additionally, the tariffs for rice crackers will be reduced to 10 percent, while those for natural honey will be decreased to 20 percent over a three-year period. The Ministry of Finance has indicated that these draft amendments will come into effect within 30 days once both cou ntries have completed the necessary legislative rectification procedures. This development is expected to foster stronger economic ties and increased trade opportunities between Taiwan and Paraguay.