The budget represents an increase of NT$2.7 billion, or an annual growth of 10 percent, over the NT$28.86 billion budget for this year, Yang said, adding that the increased funds will be mainly used for foreign aid to boost international cooperation. According to Yang, foreign aid will total NT$1.71 billion, or around 0.13 percent of gross national product.

He said the ratio is still lower than the 0.7 percent set as a target by the United Nations, adding that the ministry will continue to push for foreign aid programs taking into consideration the nation’s financial situation and foreign diplomatic needs.

Yang made the remarks while delivering a report on the ministry’s budget for 2008 at meeting of the Legislative Yuan’s Foreign Affairs Committee.

He noted that the expenditures of NT$31.56 billion for 2008 will include an open budget of NT$25.78 billion, of which he said NT$11.94 billion will be used for international cooperation programs, marking an increase of NT$1.71 billion over the level for this year.

As for the portion of the budget that will remain confidential, which will total NT$5.78 billion, the funds will chiefly be used to cement Taiwan’s ties with its diplomatic allies, he said.

Taiwan currently maintains formal diplomatic relations with 24 countries around the world.