Taiwan minister
\nheads for KL
\nto boost trade
\nties with ASEAN<\/p>\n
Agence France-Presse
\nTaipei<\/p>\n
Finance minister Lin Yi-fu left for Malaysia here Sunday as part
\nof Taiwanese efforts to enhance economic ties with Southeast Asia
\nfollowing ASEAN and China's agreement to form a free trade area,
\nan official said.<\/p>\n
Lin will first fly to Penang, a key Taiwanese investment base
\nin Malaysia, and then on Tuesday move on to Kuala Lumpur where he
\nwill hold a ministerial-level meeting on trade and investment
\nissues, an economic ministry official said.<\/p>\n
\"It is the economic ministry's second fact-finding group this
\nyear to explore Southeast Asia's investment climate after the
\ngovernment renewed the 'go south' policy,\" the official said,
\nadding that they last visited the Philippines in October.<\/p>\n
The \"go south\" policy, initiated by former president Lee Teng-
\nhui, aims to diversify Taiwanese investments from China to
\nSoutheast Asia.<\/p>\n
Taiwan is Malaysia's third biggest foreign capital supplier,
\nwith accumulated investment running up to US$9.2 billion,
\naccording to ministry data.<\/p>\n
After wrapping up his Malaysia visit, Lin will fly on to
\nThailand to exchange views on how to improve trade and investment
\nbetween the two countries, the official said.<\/p>\n
As the third biggest foreign investor in Thailand, Taiwan has
\nfunneled $10.5 billion in various investment projects there.<\/p>\n
The trips follow a historic agreement forged by Chinese Prime
\nMinister Zhu Rongji and Southeast Asian leaders to create the
\nworld's biggest free trade area embracing 1.7 billion people and
\ntwo-way trade worth $1.2 trillion.<\/p>\n
The free trade area should be completed in 2010 between China
\nand the six original members of Association of Southeast Asian
\nNations (ASEAN) -- Brunei, Malaysia, Indonesia, the Philippines,
\nSingapore and Thailand and eventually create a trade area with an
\neconomy worth almost two trillion dollars.<\/p>\n
Taiwan President Chen Shui-bian earlier this year recommended
\nthat Taiwan, the US and Japan forge a regional free trade
\nalliance to diversify the island's overseas projects, which were
\nfocused on rival China.<\/p>\n
The president said free trade pacts between the three major
\neconomies could help check Taiwan's capital flow to China, which
\nis fast emerging as a \"magnet\" to those looking for investment
\nopportunities around the world.<\/p>\n
Taiwan has been ruled separately from mainland China since the
\nend of the Chinese civil war in 1949.<\/p>\n
The communist government in Beijing considers the island an
\ninalienable part of its territory, and has repeatedly threatened
\nto use military force to re-take the island if it moves toward
\nfull independence.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/taiwan-minister-1447899208",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}