Siew wants closer economic integration

Taiwan could join in regional economic integration under a closer economic operation framework (CEOF), said Vincent Siew (蕭萬長), chairman of the Chunghua Institution for Economic Research.

Addressing a luncheon party of the Chinese National Association of Industry and Commerce (工商協進會) Tuesday, Siew said Taiwan could avoid political interference and maintain its competitiveness by joining the regional economic integration under the name of CEOF instead of a closer economic partnership agreement or a free trade agreement (FTA).

Siew, who also serves as chief of an economic advisory panel to President Chen Shui-bian (陳水扁), said Asia has apparently entered a heated regional economic integration season since October, with a series of economic meetings by leaders of the countries in the region, including a summit of the ASEAN, a Japan-ASEAN summit in Tokyo, an APEC Forum leaders' meeting in Bangkok, and a Boao Forum for Asia in Hainan.

Faced with this new trend, Siew suggested that Taiwan should become a free trade zone where all enterprises and econ-omies around the world would be willing to operate their businesses, in addition to actively participating in WTO activities and seeking to sign free trade agreements with other countries.

At present, Siew said, Taiwan should focus its efforts on FTA talks with the US, Japan and its diplomatic allies in Latin America.