Krueger
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- CNA 2014-01-23
Ma Ying-jeou speaks at the forum in Taipei (Photo/Chen Chen-tang)
President Ma Ying-jeou said Tuesday that Taiwan will play three important roles in Asia, as a free trade practitioner, contributor to regional trade networks and propeller of the region's prosperity.
Taiwan has been an important driver in Asia's economic growth, with most of the country's US$220 billion overseas investments from 1952 to the end of 2012 having been put into the region, Ma said, citing a UN World Investment Report.
Taiwan's economic development is closely linked to that of other Asian countries, Ma said at the opening of an economic forum organized by Taipei's CommonWealth Magazine.
He also said the most rapid regional economic integration in the world is occurring in the Asia-Pacific region, with many countries pushing for reform of economic structures.
The first round of negotiations to establish the Trans-Pacific Partnership (TPP), a regional trade bloc, for example, is set to be completed by the end of this year, he said. The TPP is currently being negotiated by the United States and 11 Pacific Rim nations — Japan, Australia, Peru, Malaysia, Vietnam, New Zealand, Chile, Singapore, Canada, Mexico and Brunei.
With its central location in East Asia, Taiwan allows easy access to major Asian cities, Ma said.
If Taiwan can join the TPP and the Regional Comprehensive Economic Partnership (RECP), it will contribute to a balanced trade network in Asia, he said, reiterating the importance of preparing for such participation.
In the wave of regional integration, "Taiwan will not be absent and cannot be marginalized," he stressed.
The TPP negotiating countries account for 36% of Taiwan's trade, and the RECP countries 57%, Ma said.
"They have an impact on us, and we have an influence on them too," he said.
As part of Taiwan's effort to promote trade liberalization, Ma said, it is pushing for a free economic pilot zone with the aim of creating a better investment environment.
The pilot zone will be extended to other areas in Taiwan with the ultimate goal of creating a free economic country, the president said.