Taiwan-US economic symposium staged in Taipei

2015-02-11

A symposium on deepening Taiwan-U.S. economic relations was held Feb. 10 in Taipei City, highlighting the long and durable friendship between the two nations.

Staged by Taipei-based Chung-Hua Institution for Economic Research, Washington-headquartered think tank Heritage Foundation and The Wall Street Journal, the one-day event focused on Taiwan’s participation in regional economic integration, especially the Trans-Pacific Partnership.

As part of the event, the foundation released its 2015 Index of Economic Freedom, the first time it has done so outside of the U.S. or Hong Kong since launching in 1994. Taiwan recorded its best-ever performance in the survey, moving up three places to No. 14 out of 178 economies.

CIER President Wu Chung-su said the event underscores the commitment of the government to economic liberalization and regional integration. Over the past five years, great strides have been made in promoting economic freedom in Taiwan, with more progress expected going forward, he added.

Echoing Wu’s remarks, Michael Tseng, deputy chief negotiator of the Office of Trade and Negotiations under the Ministry of Economic Affairs, said foreign trade has brought a wealth of investment and technical know-how to Taiwan.

“Greater participation in regional integration will help further expand foreign markets for the country,” Tseng said, adding that no effort is being spared to seek accession into the TPP.

Terry Miller, director of the foundation’s Center for Data Analysis and Center for Trade and Economics, is upbeat on Taiwan’s involvement in the trade bloc. “There is broad support within the U.S. for including Taiwan in the TPP process as quickly as possible,” he said.

Despite small problems such as Taiwan not opening its market to U.S. pork imports, Miller believes the two sides will find a way to overcome this hurdle and any other challenges impeding two-way ties.

The former U.S. ambassador to U.N. Economic and Social Council also met with President Ma Ying-jeou the day before at the Presidential Office in Taipei, where they exchanged views on Taiwan-U.S. relations. He also said Taipei was chosen for the release of this year’s index as a way of marking the ongoing advancement of economic freedom in Taiwan.

Similarly bullish on Taiwan’s TPP bid is Andrea Wu, president of the American Chamber of Commerce in Taipei. She urged the government to demonstrate its willpower and build social consensus regarding the farsighted goal.

“AmCham is here to offer any assistance we can,” she said, reaffirming the organization’s strong backing for Taiwan.

Source: Taiwan Today (http://taiwantoday.tw/ct.asp?xItem=227336&CtNode=413)