The rise of terrorism poses significant threats to the regional stability of all nations. To counter these threats, the major export control regimes (e.g., the Wassenaar Arrangement, Missile Technology Control Regime, Nuclear Supply Group, and Australia Group) encourage nations to implement export control mechanisms to prevent the proliferation of weapons of mass destruction (WMD).
In order to emphasize the importance of export control to businesses, the Bureau of Foreign Trade (BOFT) held a seminar on August 27, 2021 to provide information on Taiwan's export control regulations, case studies of violations, and effective best practices. Given the impacts of COVID-19 and the trends of digitalization, the seminar was held online, attracting more than 200 attendees who took part in enthusiastic discussions. The material for this seminar is available on the BOFT's official website.
The BOFT hopes this seminar has helped raise the awareness of businesses about transactions and conducting better due diligence prior to engaging in transactions. The BOFT also encourages businesses to implement an Internal Compliance Program (ICP) to reduce the risk of unintentionally violating laws and regulations.