Premier Lin Chuan received delegates from the World Taiwanese Chambers of Commerce (WTCC) today at the Executive Yuan, calling on the overseas business leaders to develop new markets for Taiwan and promote the nation’s economic interests worldwide.
In the absence of diplomatic ties with many countries, Taiwan’s government often relies on overseas Taiwanese business networks to help organize official activities or meetings abroad, Lin pointed out. As for the government’s efforts to expand international trade, these networks can also lobby foreign governments to sign multilateral or bilateral investment agreements with Taiwan, consolidating Taiwan’s economic relations with these countries.
In an increasingly globalized world, different nations face different economic challenges, Lin said. Taiwan’s economic development has come to a bottleneck with insufficient investment and industrial transformation problems. Taiwan must integrate its economy with the rest of the world, capitalize on its manufacturing advantages, and improve its distribution and branding strategies. The WTCC can work with local businesses to expand distribution channels, while local corporations can join the WTCC to pool their strengths in a demonstration of Taiwan’s economic power.
Lin urged WTCC delegates to maintain close contact and return often to Taiwan with economic advice as well as information and business opportunities from abroad. He also asked delegates to help strengthen Taiwan’s relations with their host countries, build mutual economic interests, and engage in cultural exchanges so as to enhance Taiwan’s visibility and image worldwide.
Established in 1994, the WTCC has 189 chapters in 73 countries and territories (including Hong Kong and Macau), the Overseas Community Affairs Council said. Among its contributions, the WTCC has improved the welfare of Taiwanese businesspeople abroad, supported economic growth at home, promoted economic diplomacy, and developed new markets for Taiwan.
The WTCC has also helped Taiwan expand its global trade market by meeting with top government officials, parliamentarians, think tanks, and political and business figures in Washington D.C., the European Union, and six members of the Association of Southeast Asian Nations. Furthermore, it assists Taiwan in signing economic cooperation agreements with many countries and supports Taiwan’s membership bid in the Trans-Pacific Partnership and the Regional Comprehensive Economic Partnership.