ECFA will boost Taiwan's economic growth: Kumar

Nagesh Kumar, chief and top economist of the Macroeconomic Policy and Development Division under the U.N.'s Economic and Social Commission for Asia and the Pacific (ESCAP) , said in an interview with CNA that China is the fastest-growing economy in the world and that the Asia-Pacific countries will benefit as a result.

Earlier that day at its Bangkok headquarters, ESCAP released its “Economic and Social Survey of Asia and the Pacific 2010” in which it forecasts a 4.5 percent economic growth for Taiwan.

Kumar suggested that Taiwan should not back off from its economic stimulus measures too early, as its economy relies heavily on exports, making it vulnerable to market shrinkages in the United States and Europe.

He also urged Taiwan, in addition to continuing its current economic development policy, to also make efforts to expand its domestic market and take part in regional economic integration, including with China.

Taiwan hopes to sign the ECFA with China in June in an effort to further sharpen its competitiveness.

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