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The New Southbound Policy is a major element in Taiwan’s external economic strategy that calls for developing comprehensive, mutually beneficial relations with countries in the Association of Southeast Asian Nations and South Asia, Australia and New Zealand.

A “people-centered” policy, it aims to create a new model of economic development and help drive regional growth and prosperity by pursuing bilateral exchanges and cooperation in several areas:

• Economic collaboration: Cooperate with the target countries on supply chains, domestic demand markets and infrastructure projects.

• People-to-people exchanges: Deepen bilateral exchange of scholars, students and industry professionals.

• Resource sharing: Promote bilateral and multilateral cooperation in culture, tourism, medical care, technology, agriculture, and small and medium-sized enterprises.

• Regional links: Build systematic bilateral and multilateral cooperation with partner countries while strengthening negotiations and dialogue.