The Cross-Strait Trade in Services Agreement concluded June 21 will help local firms make inroads into mainland China, with Taiwan’s small and medium enterprises the major beneficiaries, ROC Premier Jiang Yi-huah said Oct. 19.
“The pact will play a key role in boosting Taiwan’s exports and driving the country’s industrial transformation,” Jiang said, urging the public not to allow a few negative facets overshadow the enormous benefits of the pact.
“Speed is crucial in sustaining Taiwan’s competitiveness, and delay in passing the agreement will result in the country’s competitive industries missing out on great business opportunities,” he added.
Jiang made the remarks while visiting Sporton International Inc., a product testing and certification services provider based in New Taipei City, and Uniplan Taipei, local office of Cologne-headquartered Uniplan GmbH & Co. KG, a full service provider for trade fairs and events.
According to the premier, the agreement will remove hurdles and open new windows of opportunity for local sectors such as product testing and certification services, as well as meetings and exhibitions, among others.
Citing industry estimates, Jiang said mainland China’s product testing and certification market is set to grow to 100.9 billion yuan (US$16.55 billion) in 2013, with major international players preparing their market entrance strategies.
“Given Taiwan firms’ advanced know-how, quality services and competitive pricing strategies, the local sector is well-positioned in the race to control a commanding position in the mainland Chinese market under the service trade pact,” Jiang said.
The situation is the same in the meetings, incentives, conferences, and exhibitions industry, which is widely seen as the main driver of the services sector and a key link in the innovation economy, he added.
“By opening Taiwan and mainland Chinese markets to firms on both sides, the pact will unlock the potential of local event organizers and spur job creation in Taiwan.”
Taiwan’s gaming sector will be yet another major beneficiary, as the pact will cut the review time in half for new offerings by mainland Chinese authorities and fast-track product launch.
Jiang said since June the government has taken great effort in communicating with sectors that may be adversely affected by the pact, including beauty salons, Chinese herbal medicine, laundry and printing.
“The government will continue mapping out complementary measures and providing firms with assistance and subsidies in mitigating the pact’s impact,” he added. (SFC-SDH)
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