Taiwan's efforts in using information technology to facilitate its trade were ranked amongst the best in the region, according to an independent report issued by the Asia-Pacific Economic Cooperation Secretariat (APEC) yesterday.
The nation's progress in cleaning up and restructuring its financial sector as well as its improvements in intellectual-property protection were also noted in the report, the APEC Secretariat said in a statement.
"Chinese Taipei has made use of information technology to facilitate trade and economic activity. The transparency of trade rules has increased, as has efficiency in import and export clearance procedures," said Simon Tay, associate professor at the National University of Singapore and author of the report.
Tay also highlighted Taiwan's record on IPR improvement and the benefit this has on building economic capacity as it aims to achieve a knowledge-based economy.
But the nation "needs to further cultivate greater public awareness of the link between IP protection and domestic economic strength. Piracy, patent violations, counterfeit materials and illegal imports of patented products all remain problems to be further addressed," he said.
Tay said several priorities need continued policy attention.
"These include more liberalized capital controls, reformed bankruptcy and reorganizational laws, and continued clean-up of non-performing loans," he said.
RSS