MOEA Deputy Minister Kung Ming-hsin (fourth left) is joined by officials and business representatives from home and abroad in giving the thumbs-up to the 2018 Taiwan-ASEAN-India Strategic Investment Partnership Forum July 17 in Taipei City. (Courtesy of MOEA)

The Taiwan-ASEAN-India Strategic Investment Partnership Forum wrapped up July 18 in central Taiwan’s Taichung City, with around 500 officials and business representatives from home and abroad discussing challenges and opportunities in the three regional markets.
 

Organized by the Ministry of Economic Affairs, the third edition of the annual event included India for the first time—a reflection of the South Asian country’s growing economic clout.

MOEA Deputy Minister Kung Ming-hsin said at the opening of the forum in Taipei City the day before that Taiwan businesses must not overlook Association of Southeast Asian Nations member states and India. These markets boast a combined population of almost 2 billion and pack a powerful economic punch, he added.

According to Kung, the event is in line with the government’s New Southbound Policy. A key plank in the national development strategy, the NSP seeks to deepen agricultural, business, cultural, education, tourism and trade ties with the 10 ASEAN member states, six South Asian countries, Australia and New Zealand.

The MOEA is promoting closer ties between Taiwan and the 18 NSP target countries, Kung said. Taiwan’s investment in these economies increased 54.5 percent year on year in 2017 to US$3.68 billion, while inbound investment rose 15.8 percent to US$270 million, he added.

In addition to such initiatives as the forum, Kung said the MOEA will continue providing consultancy services for Taiwan businesses looking to tap regional markets and organizing forums to foster industry links with ASEAN member states and India. (CPY-E)