free trade agreements 結果共5筆

Taiwanese companies are increasing their investments in Southeast Asian countries, capitalizing on the region’s rising consumer purchasing power and strategic economic opportunities. Investments under the New Southbound Policy have seen a dramatic increase in 2024, with significant contributions from key players like Foxconn.

Taiwan’s export performance reached a historic high from 2021 to 2023, but experienced a 9.8% decline in 2023 compared to the previous year, according to the Ministry of Finance. Despite this setback, exports to the U.S. continued to soar with a 49.7% year-on-year increase, while exports to countries covered by Taiwan’s New Southbound Policy also saw significant growth. However, exports to mainland China decreased to 35.2%. Taiwan’s total export tally for 2023 amounted to US$432.48 billion, ranking behind only 2022 and 2021. The demand for communications and electronic products during the pandemic-induced work-from-home trend boosted Taiwan’s exports. The Taiwan Institute of Economic Research predicted significant international trade growth in 2024, which would benefit export-oriented economies like Taiwan. In December 2023, Taiwan’s exports to the U.S. reached $8.49 billion, and exports to southern countries surged by over 50%. However, due to the limited coverage of free trade agreements (FTAs), many traditional Taiwanese industries chose to restructure risks and production in Southeast and South Asia. The return of Taiwanese businesses and the expansion of local factories after the U.S.-China trade war, as well as global economic circumstances, significantly impacted the decline in 2023 exports. The Directorate General of Budget, Accounting and Statistics (DGBAS) estimated the first-quarter export volume for 2024 to be around US$106.1 billion, which is an improvement compared to the same period in 2023, but a 10% decrease from 2022.

The Ministry of Foreign Affairs (MOFA) has stated that Beijing is working to isolate Taiwan globally in response to criticisms made by Kuomintang (KMT) presidential candidate Hou Yu-ih regarding Taiwan’s stagnant free trade agreements (FTA). During a presidential policy presentation, Hou criticized the Democratic Progressive Party (DPP) for its unsatisfactory economic performance and the lack of progress in bilateral and multilateral trade agreements. MOFA emphasized Taiwan’s commitment to global economic integration and bilateral economic cooperation, but highlighted the interference from China. MOFA believes that Taiwan’s ability to participate effectively in economic integration depends on its strength and global connections, especially as countries like the U.S. and European nations reassess their economic risks with China. MOFA urges all Taiwanese, regardless of political affiliation, to unite and enhance cooperation with like-minded nations in the face of external challenges.

Taiwan People’s Party vice presidential candidate Cynthia Wu expresses disappointment with the Ministry of Foreign Affairs (MOFA) over its handling of diplomatic challenges during COP28. Wu emphasizes the need for the government to reconsider its approach to enhance the economy and diplomacy simultaneously. She highlights the recent consensus in the European Union (EU), where over 700 members of the EU Parliament passed a motion to negotiate bilateral free trade agreements with Taiwan. Wu credits MOFA, the Legislative Yuan, and herself for raising Taiwan’s international profile.

Vice Premier Cheng Wen-tsan expresses optimism about trade talks with the United States, citing U.S. Trade Representative Katherine Tai’s positive stance on advancing Free Trade Agreements (FTAs) with key trading partners. The discussions between Taiwan and the United States have made significant progress, with the US-Taiwan Initiative on 21st Century Trade already reaching five agreements. Second-phase talks, including agriculture, are currently underway. The possibility of addressing tariffs in the negotiations is not ruled out. Additionally, the U.S. House of Representatives has proposed mutual tax exemption to alleviate taxation burdens, a development that could spare corporations and individuals from double taxation issues. Cheng emphasizes the need for diligent and concerted effort in deepening economic ties between Taiwan and the United States.