Taiwan: Amending Regulations Could Increase US Wine Exports
Recently, the Ministry of Finance (MOF) stated they will propose an amendment to the Taiwan Tobacco and Alcohol Administration Act, which could increase U.S. wine sales in Taiwan. The revised regulation would allow for on-line purchases of alcoholic beverages and includes an advanced registration payment system in order to keep out minors from illegally purchasing alcohol. In early 2016, MOF will solicit comments from various social welfare groups before finalizing the new regulation. Taiwan’s overall retail value for wine is forecast to hit US$275 million in 2017, and Post anticipates this new regulation will help stimulate U.S. wine exports. Post estimates U.S. wine exports to Taiwan will reach US$13.6 million in 2015.