New Southbound Policy Portal

The efforts of Taiwan’s representative offices in the first quarter are paying dividends in the form of increased foreign trade and investment, according to a MOFA statement June 9. (MOFA)
 

Outstanding efforts by Taiwan’s representative offices have significantly increased foreign trade and investment in the first quarter of 2023, according to the Ministry of Foreign Affairs June 9.

Among their achievements is Taiwan’s increasing cooperation with its allies, the MOFA said. Overseas offices facilitated the visit of President Mario Abdo Benitez of Paraguay, who promoted his country’s meat, and helped boost the Marshall Islands’ purchases of Taiwan’s solar energy equipment. Representative offices also assisted the country’s information and communications technology and clean energy businesses in their exploration of markets in Tuvalu, even as they worked to bring about the signing of Resolution No. 3 of the Taiwan-Eswatini economic cooperation agreement, which focused on expanding exports to Taiwan.

Similarly, Taiwan’s overseas offices played a pivotal role in fast-tracking the country’s collaboration with its like-minded partners, the MOFA said. This is evidenced by the launch of negotiations regarding a foreign investment promotion and protection arrangement with Canada in February; the invitation of Lithuanian Vice Minister of Economy and Innovation Karolis Zemaitis to participate in an economic dialogue in the same month; and a visit from Marketa Pekarova Adamova, speaker of the Czech Chamber of Deputies, to join a bilateral business council meeting in March, the ministry added.

Equally impressive are the memorandums of understanding signed between private sector interests in Taiwan and partner countries, the MOFA said, citing MOUs on medical materials procurement with Czechia, space technology collaboration with India, semiconductors and the establishment of an ultra-fast laser research and development innovation center with Lithuania, and meat production and sales cooperation with Paraguay.

The MOFA said over 320 officials from 41 countries and territories were invited to attend March 2023’s Smart City Summit and Expo, an event aimed at fostering networking and business opportunities while sharing Taiwan’s smart solutions with the world.

According to the MOFA, the ministry and its overseas offices organized over 250 conferences, exhibitions and investment briefings; helped local enterprises conduct 160 inspections overseas; matched more than 500 foreign procurement cases; and boosted 75 foreign investments in the first quarter. (YCH-E)