The Cross-Straits Agreement on Trade in Services is a signal to the world of Taiwan's resolve to participate in regional economic integration, Premier Jiang Yi-huah said today, calling on the Legislature to expedite its ratification. He also directed government agencies to accelerate work on Taiwan's trade pact with Singapore so that the ASTEP—Agreement between Singapore and the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu—can be signed by the end of the year.
Presiding over a meeting of the Executive Yuan task force on strategic international trade alliances, the premier said Taiwan is aggressively pursuing other free trade agreements (FTAs) while preparing for accession to the Trans-Pacific Partnership and the Regional Comprehensive Economic Partnership. All of these efforts require market liberalization policies, he pointed out.
To speed up liberalization of Taiwan's market, the task force made in its previous meeting a resolution to divide the preparation work into two phases—amending regulations, and opening up markets—and to complete such work by year-end.
At today's meeting, the Ministry of Economic Affairs (MOEA), Ministry of Transportation and Communications, Financial Supervisory Commission and National Communications Commission reported on the plans and status of liberalization in their respective areas. Issues mentioned included systemic problems keeping Taiwan from meeting FTA requirements, the impact of market opening on industries, formulation of response measures, and internal and external communications.
With regard to systemic problems, the MOEA said much work still remains in the areas of technical regulations, standards and conformity assessments, and intellectual property rights protection. Premier Jiang instructed the MOEA to give priority to the efforts that will facilitate trade, promote industrial development and attract overseas Taiwanese investors. Since some of the proposed measures may affect consumer rights, government agencies should listen closely to businesses and interest groups and incorporate their views into the planning process. As for possible impacts from market opening, agencies should step up communications with various sectors, plan accordingly, and respond to the needs of large corporations as well as small and medium-sized enterprises.
The MOEA also mentioned the upcoming World Trade Organization (WTO) ministerial conference, at which member economies will be discussing a "mini-package" of deliverables, including an agreement on trade facilitation, agriculture and country development. Because these issues are important to Taiwan, Jiang asked agencies to work together, maintain close communications and share information with one another. He also asked the ROC's permanent mission to the WTO to send back the latest information so that the MOEA and others can be prepared to negotiate terms that are in Taiwan's best interest.