Taiwan eyes economic integration, inclusive growth

2015/11/19

Taiwan is ramping up efforts to promote regional economic integration in the Asia-Pacific while furthering advances in people-to-people connectivity and inclusive growth, according to Minister of Economic Affairs Deng Chen-chung Nov. 17.

Deng, who was in the Philippines for the 2015 Asia-Pacific Economic Cooperation Ministerial Meeting, said Taiwan is moving toward its goal of joining the Trans-Pacific Partnership, the largest trade liberalization pact in the region. He added the bid has been met with positive responses from the 12 nations that have reached agreement on the TPP. The 12 economies are all members of APEC.

“Boasting a vibrant environment for small and medium enterprises, the country offers a raft of strengths in the areas of human resources, industry value chain, information and communications, and intellectual property,” according to the minister.

“There is every reason to believe that with Taiwan’s active participation in trade blocs such as the TPP and the more expansive proposed Free Trade Area of the Asia-Pacific, all regional partners could benefit from the nation’s rich resources. This would create a win-win situation for everyone.”

Deng made the remarks at a press conference after the conclusion of the two-day event in Manila. The minister said he expects further headway to be made in multilateral collaboration at the World Trade Organization Ministerial Conference in December, paving the way for expanding trade facilitation across the globe.

National Development Council Minister Duh Tyzz-jiun, who also attended the meeting, supported Deng’s comments by underscoring Taiwan’s continued investment in human capital as a means of sustaining economic growth.

Citing the APEC Skills Development Capacity Building Alliance, a Taiwan-led initiative included in the forum’s 2015 High Level Policy Dialogue on Human Capacity Building, Duh said the nation is fostering the growth of human resources in line with the APEC region’s industrial needs.

An APEC Skills Development Capacity Building Center will be established under the initiative in Taiwan, he said, to enhance people-to-people connectivity as well as the competitiveness of the region’s human capital.

In addition, the nation will start providing 10 openings annually for students to study or conduct research at universities in APEC economies, according to the minister.

“Through this dedicated scholarship, slated to be up and running next year, we expect to see cross-border educational cooperation and youth exchanges strengthen as we press onward,” Duh said.

Source: Taiwan Today (http://taiwantoday.tw/ct.asp?xItem=239067&ctNode=2194&mp=9)