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》Economic Cooperation

Summary of the First Automatic Exchange of Financial Account Information in Tax Matters with Japan and Australia Photos - New Southbound Policy

Summary of the First Automatic Exchange of Financial Account Information in Tax Matters with Japan and Australia

The Ministry of Finance stated that last year the Ministry completed its first provision to and received from Japan and Australia financial account information with respect to 2019.

BOFT and Textiles Federation Join Forces to Expand Overseas Opportunities Photos - New Southbound Policy

BOFT and Textiles Federation Join Forces to Expand Overseas Opportunities

In order to assist Taiwan's textile industry with enhancements to its international competitiveness and expand its global market share, the Bureau of Foreign Trade (BOFT), Ministry of Economic Affairs continues to collaborate with the Taiwan Textile Federation (TTF) in implementing the Textile Export Promotion Project (TEPP).

CPC Taiwan received first long-term LNG cargo from Cheniere Photos - New Southbound Policy

CPC Taiwan received first long-term LNG cargo from Cheniere

The first LNG cargo from the 25-year LNG SPA between CPC Corporation, Taiwan (“CPC”) and Cheniere Energy (“Cheniere”), the largest exporter of US LNG, has arrived in Taiwan today (10/01/2021) on the Fuji LNG vessel for discharging at the Taichung LNG Terminal. Under the SPA, which was signed back in August 11th, 2018, Cheniere will supply 2 mtpa of LNG (approximately 30 shipments annually) to CPC starting 2021 to 2045.

The MoU on Cooperation within the Area of Energy and Minerals Renewed at the 25th Taiwan-Australia Joint Energy and Minerals, Trade and Investment Cooperation Consultations Photos - New Southbound Policy

The MoU on Cooperation within the Area of Energy and Minerals Renewed at the 25th Taiwan-Australia Joint Energy and Minerals, Trade and Investment Cooperation Consultations

The 25th Taiwan-Australia Joint Energy and Minerals, Trade and Investment Cooperation Consultations (JEMTIC) was held via video-conferencing in the morning on November 12, 2020.

Digital marketing to seize New Southbound business opportunities Photos - New Southbound Policy

Digital marketing to seize New Southbound business opportunities

New Southbound Policy countries collectively are home to a rapidly growing market with a large young population and immense domestic demand that holds great potential for Taiwanese companies.

Commercial demand continues in cross-strait trade while the government helps businesses tap into the global market Photos - New Southbound Policy

Commercial demand continues in cross-strait trade while the government helps businesses tap into the global market

The industries of mainland China and Taiwan have long-established supply chain relations, and mainland China now relies heavily on Taiwan’s semiconductors and information communication products.

“Taiwan-ASEAN Smart Industry Cooperation Plan” Facilitates Cooperation and Exchanges with ASEAN Countries Photos - New Southbound Policy

“Taiwan-ASEAN Smart Industry Cooperation Plan” Facilitates Cooperation and Exchanges with ASEAN Countries

To expand business opportunities with new emerging markets and facilitate Taiwan’s economic exchanges and cooperation with ASEAN countries, the Bureau of Foreign Trade (BOFT) continues to subsidize the Taipei Computer Association (TCA) in implementing the “Taiwan-ASEAN Smart Industry Cooperation Plan.” Since 2014, the TCA has carried out the plan in Myanmar, and to further facilitate more business opportunities, this plan was expanded to include Singapore in 2019.

India-Taiwan trade prospects look promising in 2021: TAITRA Photos - New Southbound Policy

India-Taiwan trade prospects look promising in 2021: TAITRA

The overall restructuring of supply chains will give India a very unique place and attract many Taiwanese companies to invest in the country, TAITRA chairman James CF Huang said. The prospects for India-Taiwan bilateral trade, which was hit hard this year due to disruptions caused by the COVID-19 pandemic, look promising in 2021, according to the Taiwan External Trade Development Council (TAITRA).

NDC forecasts Taiwan’s GDP to grow 3.8-4.2 percent in 2021 Photos - New Southbound Policy

NDC forecasts Taiwan’s GDP to grow 3.8-4.2 percent in 2021

Taiwan’s gross domestic product is forecast to increase by between 3.8 and 4.2 percent in 2021 on the back of successful management of the COVID-19 pandemic and a growing local economy, according to the National Development Council.

Taiwan remains 3rd in latest BERI global investment report Photos - New Southbound Policy

Taiwan remains 3rd in latest BERI global investment report

Taiwan retained its third spot ranking among 50 major economies surveyed in the latest Profit Opportunity Recommendation report by U.S.-based Business Environment Risk Intelligence SA.

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