Liberalized economy brings prosperity: AIT

In his welcoming remarks at the annual Taiwan-U.S. Commercial Forum in Kaohsiung, southern Taiwan, AIT Kaohsiung Branch Office Chief Gary Oba listed the benefits of economic liberalization and said that Taiwan could lag further behind its trade rivals if it continues to embrace protectionist measures.

“Taiwan is falling behind neighbors like Singapore and South Korea,” Oba said.

Singapore has so far signed free trade agreements (FTAs) with countries such as South Korea, Australia and India, while South Korea has reached similar pacts with the United States and the European Union.

Taiwan, on the other hand, only has its economic cooperation framework agreement with China, signed in 2010, although President Ma Ying-jeou's administration is working on forging FTAs with Singapore and New Zealand.

Oba acknowledged that the process of liberalization is not an easy task.

“Change has its costs,” he said, noting that there are “entrenched interests” among those who resist opening markets and those who do not welcome competition.

Referring to the Trans-Pacific Strategic Economic Partnership — a multilateral free trade agreement designed to liberalize economies in the Asia-Pacific region — Oba said it is a “gold standard trade agreement” and he urged Taiwan to strive to meet the requirements for membership.

Ma made joining the partnership one of his re-election campaign promises and envisions that Taiwan will be admitted within the next decade.

Several Taiwan government agencies were represented at the conference, in addition to the American State Offices Association, the American Chamber of Commerce in Kaohsiung and various academics and politicians.

SHARE CLOSE
Blogger		Google+
Live Journal		Plurk
Stumble Upon

Tweet

	PREVIOUS ARTICLE
	Ex-president from EU nation to attend Ma inauguration: MOFA

NEXT ARTICLE
'No reason' for limited EU investing: EETO

4 Comments

Submit Your Comment

April 27, 2012    arnie@

Reply

AIT should keep its nose out of Taiwan's internal affairs. What makes the idiots at AIT think they have any right to comment on Taiwan's internal affairs?

April 28, 2012    miller.henry641@

Reply

Sometimes common sense can sound alien to the ignorant.

April 29, 2012    midnightsnack@

Reply

As Mr. Oba is well aware, when it comes to Taiwan, everything is tinted with external politics. Just look at the example of Taiwan's delayed entry into the WTO in order to accommodate China. Secondly, his call for further economic liberalization rings hollow. Indeed, I doubt Mr. Oba would characterize the US government's bailout of the auto and financial industries in recent years as what one would characterize as laissez-faire at its best. If nothing else, the will to conclude bilateral FTAs is there, but they will be completed at Taiwan's pace and with its own national interests taking center stage, not those of the US.

April 30, 2012    ludahai_twn@

Reply

arnie@ wrote:
AIT should keep its nose out of Taiwan's internal affairs. What makes the idiots at AIT think they have any right to comment on Taiwan's internal affairs?

He was asked to make comments, and he did. The last I checked, Taiwan still had freedom of speech -- even if some rights are eroding under the KMT regime. And even more... he is speaking the truth.

Write a Comment

Terms

Enter your comments - 3000 characters max

Type in image code

 Receive China Post promos
 Respond to this email

Submit