New Southbound Policy Portal

Efforts by Taiwan’s representative offices in Q1 are paying dividends in the form of increased foreign trade and investment, according to the MOFA May 9. (MOFA)
 

Outstanding efforts by Taiwan’s representative offices have significantly increased foreign trade and investment in the first quarter of 2022, according to the Ministry of Foreign Affairs May 9.

Among the achievements is Taiwan’s easing of regulations on food imports from Fukushima and surrounding areas in February, the MOFA said, adding that the move is part of a campaign by the country’s representative offices to garner support for Taiwan to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.

Similarly, Taiwan’s representative offices in the U.S. played a pivotal role in facilitating a letter calling on the Biden administration to include the country in its Indo-Pacific Economic Framework, the MOFA said. Signed by 200 members of the U.S. House of Representatives, the request was also backed by Secretary of State Antony Blinken April 28, the ministry said.

Equally impressive is the Indigenous Peoples Economic and Trade Cooperation Arrangement co-signed with Australia, Canada and New Zealand in March, as well as the Taiwan-Belize Economic Cooperation Agreement that took effect in January, the MOFA said. The visit of a delegation from Paraguay led by Minister of Industry and Commerce Luis Alberto Castiglioni in March and the greenlighting of tariff reductions on 261 Taiwan products by the Marshall Islands have additionally helped the country expand economic cooperation with its allies, it said.

According to the MOFA, a US$200 million strategic investment fund and US$1 billion in loans was established by the Cabinet-level National Development Council to boost Taiwan’s industrial collaboration with countries across Central and Eastern Europe. The government is likewise striving to expand exchanges with the semiconductor and electric vehicle sectors in the region, the ministry added.

More than 200 city leaders were invited by the country’s representative offices to attend the 2022 Smart City Summit and Expo held in March, an event aimed at facilitating networking and business opportunities while sharing Taiwan’s smart solutions with the world, the ministry said.

Taiwan’s representative offices in Japan have successfully boosted sales of Taiwan pineapple and sugar apple, the MOFA said, adding that overseas offices also helped increase exports of the local agricultural product to Brunei, Kuwait and Singapore. (YCH-E)