In the News

Ma tracks progress on economic agreements

ROC President Ma Ying-jeou outlines economic stimulus measures to the Cabinet July 26 in Taipei City. (CNA)

• Publication Date：07/27/2012
• Source： Taiwan Today

ROC President Ma Ying-jeou said July 26 that he will personally track progress each month in Taiwan’s negotiations to sign economic cooperation agreements with other nations.

Ma added that he has instructed the Ministry of Economic Affairs to draw up a concrete plan before September on improving Taiwan’s investment environment so as to attract mainland-based Taiwanese as well as foreign businesses to make investments in the country.

Following the Legislative Yuan’s passage July 25 of controversial beef and stock transaction tax bills, Ma asked the MOEA to put forward a road map on negotiations within the next month, and to restart talks with the U.S. under the Trade and Investment Framework Agreement as soon as possible, for the benefit of both sides.

The president said economic stimulus plans from each ministry will be compiled shortly, clearly outlined to the public and actively promoted.

Ma made the comments at the Cabinet’s monthly economic report meeting, during which ministers discussed ways of boosting Taiwan’s exports, improving the nation’s investment environment and upgrading the competitiveness of its industrial sector.

Factors behind the drop in Taiwan’s exports over the first six months of the year included global economic conditions as well as domestic factors such as excessive reliance on exports by some industries, insufficient competitiveness of the island’s main export products, undiversified export markets, excessive overseas production and limited participation in regional economic integration, Ma said.

He said that in addition to implementing measures to spur exports in the short term, efforts need to be made to create added-value in export products and raise industry competitiveness in the midterm.

Tourism, international health care and other related service sectors must be vigorously promoted on the foundation that has already been established, the president added. (SB-THN)