Tue, 22 Feb 2011

Taipei (ANTARA News) - Taiwan continues to encourage its business people to invest in Indonesia as the economic power has been moving from the West to the East including to Indonesia, an official at the Council for the Economic Planning and Development (CEPD), Taiwan, said here recently.

"Since the financial crisis in the world, the economic power have been moving from the West to the East. This has made Taiwan to set its investment target more to Asian countries including Indonesia," CEPD`s Secretary General Shien Quey Kao told Antara in an interview.

Indonesia will be a special choice for Taiwanese investment as the former with more than 240 million people is a very big market for Taiwan`s export products, she said, adding that Indonesian workers` wages are relative lower than those of China which is also Taiwan`s investment destination.

In the effort to enhance relations and cooperation on economic affairs with Indonesia, Taiwan will keep on working hard in face of several challenges including diplomatic matters and tight competition especially with China and South Korea, she said.

In addition, Taiwan which has had good industrial networks in Asia including Indonesia has also set up a task force in the cabinet of its government besides making coordination with relevant institutions, Shien said.

According to Shien, the biggest Taiwan`s exports to Indonesia are electronic products and likewise it has big potentials in agricultural produces which are expected to be its export commodities. Indonesia exports gas/oil, chemicals and textile among other things to Taiwan.

Taiwan is able to show that it is a main player in the world economic activities as it was able to reach economic growth on the average of 7.4 percent per year between 1952 and 2009. During the period, its per capita income rose from US$213 to US$16,353 and its GDP increased from US$1.7billion to US$US$377 billion.

In a bid to maintain the position, in the current 21st century Taiwan with 23.1 million people will enhance public investment and promote its industrial model to the world.

Through the efforts, Taiwanese leaders will also create a unique and innovative status besides keep on making added value for Taiwan in the global and Asian economic and trade atlas. (*)