News Backgrounder
July 21, 2010
I. GIO Minister Updates U.S. Forum and Media on Cross-Strait Economic Pact
ROC Government Information Office Minister Johnny C. Chiang delivered a speech, “Taiwan—Building Partnerships for Asia-Pacific Economic Integration,” at the Carnegie Council for Ethics in International Affairs in New York on July 13. During his talk, he stressed that the signing of the Economic Cooperation Framework Agreement (ECFA) by Taiwan and mainland China represents a major step toward overcoming Taiwan’s economic isolation, achieving mutually beneficial cross-strait cultural, trade and investment cooperation and speeding up the economic integration of Asia.
Minister Chiang stated that signing the ECFA is only the first part of a longer process. Taiwan is a member of the WTO and has the right to sign FTAs with other WTO members, and President Ma Ying-jeou has already made FTA talks with Taiwan’s other trading partners an “administrative priority.” Now that the ECFA has been signed, there is no basis for the Chinese mainland hindering Taiwan from seeking to negotiate FTAs, he added.
During the subsequent question and answer period, Minister Chiang stated that the ECFA is an economic agreement that has nothing to do with politics. He noted that President Ma has vowed not to address such issues as independence or unification during his term in office. The President has said that building the cross-Strait relationship is a very long process with no set timetable. Minister Chiang observed that over one million tourists from the Chinese mainland have visited Taiwan so far, and he is certain that they now know what democracy is. In his view, this is the optimal way to demonstrate what freedom is all about.
The GIO Minister began his weeklong U.S. visit on July 10, during which he visited such mainstream international media as Time magazine, The Wall Street Journal and Newsweek. He was also interviewed by Jayshree Bajoria of the U.S.-based Council on Foreign Relations.
In response to U.S. media concern about Taiwan’s request to purchase arms from the United States, Minister Chiang replied that mainland China habitually opposes the sale of weapons by the U.S. to Taiwan. However, Taiwan seeks to purchase such weapons not because of an arms race with the mainland but rather to safeguard the security of the people of Taiwan. Taiwan’s stance in cross-strait talks must be backed up with the power to defend itself, and a credible deterrence is essential to prevent any miscalculations that might result in military conflict. Taiwan’s security remains under threat; so, based on the government’s sovereign obligation to protect the Taiwan public, it must continue to purchase weapons of a defensive character from the U.S.
As for how the ECFA will affect Taiwan’s economy, Minister Chiang explained that, given the frequency of cross-strait economic and cultural exchanges, the ECFA was signed to initiate the institutionalization and liberalization of extant economic relations between the two sides of the strait. Currently, 41 percent of Taiwan’s exports go to mainland China and Hong Kong. Once the ECFA takes effect, 539 of Taiwan’s tariff items on the “early harvest list” will be subject to tariff reduction or elimination on the mainland, boosting Taiwan’s GDP growth by 0.4 percent.
Although mainland China is currently flush with capital, Taiwan-based businesses on the mainland nevertheless bring more than just investment capital to that market; they also possess such advantages as management skills, adaptability and market savvy. Thus, the ECFA, once it goes into effect, will boost the regional competitiveness of Taiwan’s industries.
II. Tourism Specials Promise a Summer of Fun
Taiwan’s Tourism Bureau is promoting travel without a car this summer by providing shuttle buses in 10 of Taiwan’s cities and counties. Excursionists can save money and limit their carbon emissions as they travel on 21 routes connecting railway and high-speed rail stations with scenic spots through the bureau’s “Tour Taiwan Sightseeing Shuttle Service.”
From now until the end of September, shuttle buses to the following 11 destinations may be ridden free of charge: Dongshan River and Jiaoxi in Yilan County; Lion Mountain in Hsinchu County; Nanzhuang, Penglai, and Xiangtian Lake in Miaoli County; Xitou in Nantou County; Chiayi City; and Taitung City, Eastern Coastal Areas and Offshore Islands, and East Rift Valley-Luye in Taitung County. Stops for these shuttle buses are located at railway stations and high-speed rail stations near scenic spots and are marked by large, red signposts bearing the Tour Taiwan logo.
Shuttle buses are scheduled to depart every hour during weekdays, and every half-hour on weekends and holidays. Tickets to destinations other than the 11 already mentioned may be purchased at stations or the fare may be paid on the bus. For details, please visit http://www.taiwantrip.com.tw.
One item never far from the top of a traveler’s list is food. The Government Information Office is holding an online contest on Taiwan’s foods, entitled “Taiwan’s Yummy Snacks.” The four rounds of the contest will be held between July 15 and September 28.
For this event, eight of Taiwan’s specialty foods have been chosen to face off in four rounds. In the first round, pig-blood cake battles stinky tofu; then in round two, it’s oyster omelets against Taiwanese meat balls; in the third round, steamed dumplings will be matched up against braised pork rice; and to close things off, pearl milk tea will go toe-to-toe with mango shaved ice. Participants need only log on to the contest website to vote for their favorite food. Contestants may only cast a single vote each round, and all those who voted for the winner will be entered into a prize drawing. To access the contest website, please visit the Republic of China Government Entry Point at http://www.taiwan.gov.tw/.
III. Taiwan to Launch Investment Recruitment Campaign
Following up on the signing of the cross-strait economic cooperation framework agreement, the Council of Economic Planning and Development (CEPD) briefed the Cabinet on July 15 about a global investment solicitation plan aimed at raising Taiwan’s regional competitiveness. CEPD Minister Christina Liu said that a joint-service center for global investment recruitment established by the Ministry of Economic Affairs (MOEA) is scheduled to begin operation on August 8. The various ministries and central-government organizations were asked to submit investment proposals by July 20, from which the CEPD and other ministries would jointly select seven flagship plans. Among those expected to be incorporated into the initiative are internationalization of medical service, globalization of Taiwanese cuisine and digital convergence. The CEPD aims to attract US$55.9 billion in investment over the next six years.
In addition, the CEPD has scheduled investment recruitment seminars for Taipei, Taichung and Kaohsiung on August 23, 27 and 30, respectively. It will put forth a comprehensive action plan before the end of September and, in order to attract more investors, will organize a Taiwan Road Show to Japan, Singapore, Hong Kong, Europe and the United States from October to December.
As cross-strait relations have stabilized, Taiwan is fast becoming a lucrative investment destination. The MOEA announced on June 15 that direct investments by overseas Taiwanese and foreigners totaled US$2.2 billion in the first six months of 2010, an increase of 22.53 percent over the same period last year. Moreover, foreign investors are lining up to establish R&D centers on the island. According to the MOEA, after Microsoft’s decision to invest US$21 million in a “Software and Services Excellence Center” in Taiwan, Hewlett-Packard also applied for MOEA funding to build within three years a large development center that will employ 1,000 people. The MOEA has also granted approval to Sony, DuPont, Corning, Fujitsu, ASML and other multinational corporations to set up R&D centers in Taiwan.
Showing posts with label ECFA. Show all posts
Showing posts with label ECFA. Show all posts
Thursday, July 22, 2010
Thursday, July 8, 2010
Weekly News Backgrounder from Taiwan's Government Information Office
News Backgrounder
July 7, 2010
I. ECFA Will Accelerate Asia’s Economic Integration: President Ma
After Taiwan’s Straits Exchange Foundation and its mainland Chinese counterpart, the Association for Relations Across the Taiwan Strait, signed the Economic Cooperation Framework Agreement (ECFA) on June 29, the Cabinet approved the agreement and forwarded it to the Legislature for review on July 1.
At a press conference held the same day, entitled “New Inflection Point for Taiwan, New Era for Asia – Choosing Correctly at a Critical Juncture,” President Ma emphasized that the agreement will spur breakthroughs in three areas: allowing Taiwan to overcome its economic isolation; encouraging economic relations between Taiwan and mainland China toward reciprocity and cooperation; and accelerating Asia’s economic integration.
The ECFA, said the president, holds far-reaching implications for Taiwan’s future, which the international community will be examining with keen interest. It will further solidify cross-strait peace while bringing about structural changes in the Asia-Pacific regional economy, he opined.
The agreement could also prevent the nation from being economically marginalized, the president said. It provides a systematic framework for mutually beneficial cooperation across the Taiwan Strait that will create more business and job opportunities.
The agreement, he added, will speed up economic integration in Asia, making Taiwan a more valuable asset in the eyes of the Asia-Pacific and the world. It has the potential to transform Taiwan into a springboard for enterprises around the world to enter mainland Chinese markets.
Following up on the signing of the ECFA, the Council for Economic Planning and Development (CEPD) will organize business fairs to solicit foreign investment in 12 focal industries in Taiwan. From October to December, the CEPD will make presentations in Japan, Singapore, the United States and Europe.
II. World Strongly Supports Cross-Strait Pact
The international community has voiced its support for the Economic Cooperation Framework Agreement (ECFA), signed on June 29 between Taiwan and mainland China, for its promise to bolster stability in Asia and increase trade. Foreign nations and bodies shared their hopes for cross-Strait interactions to continue expanding.
On June 29, a U.S. Department of State official said, “The United States welcomes the increased dialogue and interaction,” and hopes that relations between the two sides “will continue to expand and develop.” The cross-strait economic pact, the speaker continued, would help to increase trade and lead to a more stable Asia.
Catherine Ashton, the EU High Representative for Foreign Affairs and Security Policy, issued a statement on June 30 affirming that the signing of the ECFA “contributes significantly to stability and security in East Asia.” The statement went on to read, “The European Union believes that the expansion of cross-Strait economic relations has a potential also to benefit the development of its already significant trade and investment links in East Asia.”
The Ministry of Foreign Affairs of Japan, meanwhile, said on June 30 that the Japanese government welcomed the ECFA, and that it looks for Taiwan and the mainland to solve their problems peacefully through direct dialogue.
“The conclusion of the ECFA will further enhance economic cooperation between both sides and pave the way for the normalization of the cross-Strait economic relationship,” said Singapore’s Ministry of Foreign Affairs on June 30. “It will,” the ministry continued, “also be helpful in promoting regional economic integration.”
In a July 5 interview with Taiwan’s Central News Agency, Director-General Pascal Lamy of the World Trade Organization (WTO) affirmed that the ECFA with mainland China was a major achievement by Taiwan in meeting its overall trade objectives. This agreement would help improve cross-Strait relations and ensure Taiwan’s industrial competitiveness, while also furthering its economic integration with the world and attracting foreign investment.
The WTO Secretariat’s Trade Policy Review on Taiwan pointed out that a cross-Strait economic agreement would help improve relations across the Taiwan Strait and could prove beneficial to Taiwan in signing free trade agreements (FTAs) with its other major trading partners. Taiwan will then be better equipped to meet the competition created by FTAs signed between other Asian nations.
III. Taiwan’s Digital Economy Ranking Rises
Taiwan has again come into the international spotlight for its information and communications technology (ICT) development. It was listed at No. 12, four spots higher than the previous year, in the 2010 digital economy rankings released by the Economist Intelligence Unit (EIU) on June 29. The rankings are viewed as an indicator of economic competitiveness.
The EIU pointed out that Taiwan’s rise in ranking is attributable to its advantage in broadband technology, which, together with its sound legal and enhanced social environments, makes it an exemplary model for applying digital technology to creating economic and social benefits. This development has become increasingly common in Asia, where such leading “digital economies” as Taiwan and South Korea are outperforming Europe and North America in broadband quality.
EIU derives the annual rankings from surveys on the development of ICT in major economies, evaluating their network infrastructure and Internet use for social and economic purposes. It is hoped that both individuals and enterprises can, in a sound regulatory framework and through investment in communications infrastructure, contribute to increasing efficiency and prosperity. The “digital economy” benchmark is a reflection of how the use of ICT ultimately contributes to the world’s overall economic and social progress.
July 7, 2010
I. ECFA Will Accelerate Asia’s Economic Integration: President Ma
After Taiwan’s Straits Exchange Foundation and its mainland Chinese counterpart, the Association for Relations Across the Taiwan Strait, signed the Economic Cooperation Framework Agreement (ECFA) on June 29, the Cabinet approved the agreement and forwarded it to the Legislature for review on July 1.
At a press conference held the same day, entitled “New Inflection Point for Taiwan, New Era for Asia – Choosing Correctly at a Critical Juncture,” President Ma emphasized that the agreement will spur breakthroughs in three areas: allowing Taiwan to overcome its economic isolation; encouraging economic relations between Taiwan and mainland China toward reciprocity and cooperation; and accelerating Asia’s economic integration.
The ECFA, said the president, holds far-reaching implications for Taiwan’s future, which the international community will be examining with keen interest. It will further solidify cross-strait peace while bringing about structural changes in the Asia-Pacific regional economy, he opined.
The agreement could also prevent the nation from being economically marginalized, the president said. It provides a systematic framework for mutually beneficial cooperation across the Taiwan Strait that will create more business and job opportunities.
The agreement, he added, will speed up economic integration in Asia, making Taiwan a more valuable asset in the eyes of the Asia-Pacific and the world. It has the potential to transform Taiwan into a springboard for enterprises around the world to enter mainland Chinese markets.
Following up on the signing of the ECFA, the Council for Economic Planning and Development (CEPD) will organize business fairs to solicit foreign investment in 12 focal industries in Taiwan. From October to December, the CEPD will make presentations in Japan, Singapore, the United States and Europe.
II. World Strongly Supports Cross-Strait Pact
The international community has voiced its support for the Economic Cooperation Framework Agreement (ECFA), signed on June 29 between Taiwan and mainland China, for its promise to bolster stability in Asia and increase trade. Foreign nations and bodies shared their hopes for cross-Strait interactions to continue expanding.
On June 29, a U.S. Department of State official said, “The United States welcomes the increased dialogue and interaction,” and hopes that relations between the two sides “will continue to expand and develop.” The cross-strait economic pact, the speaker continued, would help to increase trade and lead to a more stable Asia.
Catherine Ashton, the EU High Representative for Foreign Affairs and Security Policy, issued a statement on June 30 affirming that the signing of the ECFA “contributes significantly to stability and security in East Asia.” The statement went on to read, “The European Union believes that the expansion of cross-Strait economic relations has a potential also to benefit the development of its already significant trade and investment links in East Asia.”
The Ministry of Foreign Affairs of Japan, meanwhile, said on June 30 that the Japanese government welcomed the ECFA, and that it looks for Taiwan and the mainland to solve their problems peacefully through direct dialogue.
“The conclusion of the ECFA will further enhance economic cooperation between both sides and pave the way for the normalization of the cross-Strait economic relationship,” said Singapore’s Ministry of Foreign Affairs on June 30. “It will,” the ministry continued, “also be helpful in promoting regional economic integration.”
In a July 5 interview with Taiwan’s Central News Agency, Director-General Pascal Lamy of the World Trade Organization (WTO) affirmed that the ECFA with mainland China was a major achievement by Taiwan in meeting its overall trade objectives. This agreement would help improve cross-Strait relations and ensure Taiwan’s industrial competitiveness, while also furthering its economic integration with the world and attracting foreign investment.
The WTO Secretariat’s Trade Policy Review on Taiwan pointed out that a cross-Strait economic agreement would help improve relations across the Taiwan Strait and could prove beneficial to Taiwan in signing free trade agreements (FTAs) with its other major trading partners. Taiwan will then be better equipped to meet the competition created by FTAs signed between other Asian nations.
III. Taiwan’s Digital Economy Ranking Rises
Taiwan has again come into the international spotlight for its information and communications technology (ICT) development. It was listed at No. 12, four spots higher than the previous year, in the 2010 digital economy rankings released by the Economist Intelligence Unit (EIU) on June 29. The rankings are viewed as an indicator of economic competitiveness.
The EIU pointed out that Taiwan’s rise in ranking is attributable to its advantage in broadband technology, which, together with its sound legal and enhanced social environments, makes it an exemplary model for applying digital technology to creating economic and social benefits. This development has become increasingly common in Asia, where such leading “digital economies” as Taiwan and South Korea are outperforming Europe and North America in broadband quality.
EIU derives the annual rankings from surveys on the development of ICT in major economies, evaluating their network infrastructure and Internet use for social and economic purposes. It is hoped that both individuals and enterprises can, in a sound regulatory framework and through investment in communications infrastructure, contribute to increasing efficiency and prosperity. The “digital economy” benchmark is a reflection of how the use of ICT ultimately contributes to the world’s overall economic and social progress.
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