Taiwan plans to subsidize investments in five Central American countries and increase imports from the region in a bid to solidify its diplomatic ties, a Chinese-language newspaper said yesterday.
The economic plans -- designed to bolster the economies of Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica -- will be launched soon, the daily quoted Ministry of Economic Affairs (MOEA) Vice Minister Steve Chen (陳瑞隆) as saying.
Under the first plan, Taiwan will encourage investment in Central America by subsidizing each investor up to NT$15 million (US$480,000) within the next five years.
Taiwan will also assist five Central American countries in boosting their exports of such products as coffee, cocoa, handicrafts, canned corn, and scrap metal to Taiwan.
In addition, the government will recommend that Taiwan's commercial sector make investments in the Latin American countries.
Business sectors will include textiles, garments, plastics, packaging, food processing, wood processing and furniture.
The MOEA plans to set up a trade center in Central America, using the center as a base for promoting the export of goods to Taiwan.
The government will also provide incentives for these countries to host trade shows in Taiwan.
The moves come on the heels of President Chen Shui-bian's (陳水扁) recent whirlwind tour of countries with which Taiwan has official diplomatic relations.
During the 12-day tour President Chen sought to consolidate Taipei's relations with each of its 29 official allies, most of which are Latin American and African nations.
RSS