The government is committed to helping enterprises expand, explore trade opportunities and shift from value capture to value creation, Vice President Chen Chien-jen said June 15.
Chen made the comments in Taipei City at the Global Trade Forum, organized by the Importers and Exporters Association of Taipei. Established in 1947, the IEAT consists of over 5,000 member companies and aims to forge connections between the public and private sectors.
Following President Tsai Ing-wen’s inauguration in May last year, the government introduced the New Southbound Policy with the aim of helping local businesses expand into South and Southeast Asia, the vice president said. These regions have substantial demographic dividends and the potential for enormous economic growth, he added.
A key component of Tsai’s national development strategy, the initiative seeks to deepen Taiwan’s agricultural, business, cultural, education, tourism and trade ties with the 10 Association of Southeast Asian Nations member states, six South Asian countries, Australia and New Zealand.
Citing International Monetary Fund forecasts, Chen said the global economy is expected to grow by 2.9-3.5 percent in 2017. Taiwan’s economy stands to benefit from this upward trend as well as from government efforts such as infrastructure projects, he noted, adding that according to the Executive Yuan, the country’s economic growth rate this year is expected to reach 2.05 percent, up from 1.48 percent in 2016.
At the Global Trade Forum, panel discussions were held on global trade in the digital era, the New Southbound Policy as well as cross-strait trade and commerce. In addition to the vice president, experts and officials in attendance included Vice Minister of Economic Affairs Wang Mei-hua, National Development Council Deputy Minister Kao Shien-quey and IEAT Chairman John C. T. Huang.
Since its inception, the IEAT has reached collaboration agreements with over 80 business groups and sister organizations from more than 30 countries. It has also conducted substantive exchanges with international business delegations and established trade connections around the world. (KWS-E)
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