August 18, 2004
In a bid to expand Taiwan's development in the global economy, Premier Yu Shyi-kun has announced the formation of a new task force that will speed up the process of forming strategic alliances with more countries. The premier will head the new group.
The new task force will oversee the formation of the Free Trade Agreement and Non-Free Trade Agreement Committees, headed by Sheng-Cheng Hu, chairman of the Council for Economic Planning and Development, and Minister Without Portfolio Lin Yi-fu, respectively. The primary mission of the FTA Committee is to promote the signing of FTAs with the United States and other major countries, while the main tasks of the Non-FTA Committee include market liberalization, technological innovation, the introduction of talent, and the reinforcement of economic risk management.
Premier Yu noted that Taiwan must adapt its international business strategies, as it is impossible to alienate itself from the world economy. Citing the large increase in bilateral trade following the signing of a free trade agreement between Taiwan and Panama, the premier emphasized that Taiwan must avoid being marginalized with current global economic integration, and focus its efforts on forming strategic alliances and signing FTAs with different countries.
Minister of Economic Affairs Ho Mei-Yueh said that the next FTA target following Panama is Paraguay, with whom Taiwan expects to sign an agreement within one year. Future FTA targets include the United States, Japan, New Zealand, Singapore, the Philippines, and Taiwan's diplomatic allies in Central America. Since an FTA agreement with the U.S. can serve as a powerful example, Ho says the
MOEA will do its utmost to eliminate all obstacles to sign an FTA as soon as possible.
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