After the Legislative Yuan ratified the Agreement between New Zealand and the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu on Economic Cooperation (ANZTEC) today, Premier Jiang Yi-huah thanked the nation's legislators and citizens for their strong support of the accord.
Jiang extended his appreciation to Legislative Speaker Wang Jin-pyng in particular, saying his coordination efforts allowed the ANZTEC approval process to go smoothly.
As the ROC's first trade accord with a developed country that is not a diplomatic ally, the ANZTEC is an important milestone for Taiwan's integration with the global economy, the premier stated.
The Chung-hua Institution for Economic Research estimates that once the ANZTEC and relevant tariff cuts take effect, Taiwan's GDP will receive a boost of US$303 million; social benefits worth US$184 million will be realized; exports and imports will increase by US$624 million and US$606 million, respectively; 6,255 jobs will be created; and national industry output will rise NT$35.6 billion (US$1.21 billion).
Jiang is looking forward to similarly swift passage of the Cross-Strait Agreement on Trade in Services signed by Taipei and Beijing earlier this year. The world considers this agreement, like the ANZTEC, an important indicator of Taiwan's determination to participate in regional economic integration, he stated.
Finally, the premier called for relevant agencies to pick up the pace on completing and signing the planned economic partnership agreement with Singapore as soon as possible.