Vice Minister of Economic Affairs Steve Chen (
"The fundamentals of Taiwan's economy are very good, and therefore advancing the economy on this foundation to reach another high is a major task for me," Chen said.
Because Taiwan is an export-dependent country, the ministry should be aware of the rapid changes in the international business environment and help industries strengthen their competitiveness, he said.
A graduate of the National Chung Hsing University, where he earned a bachelor's degree in economics, the 58-year-old Chen is a ministry veteran. He began his career there with a job in the Bureau of Foreign Trade (BOFT) in 1973.
His foreign trade experience was gained through trade representative positions in Belgium and Switzerland (Zurich and Geneva). He became deputy director-general of BOFT in 1996, and then director-general the next year, becoming the nation's top trade negotiator.
Chen's main achievement was leading Taiwan's bid to join the WTO through more than 200 rounds of negotiations with WTO members. Chen is also the mastermind of the nation's free trade agreement (FTA) efforts, with three FTAs concluded so far.
Business has welcomed Chen's appointment to the to economics job, and expressed high hopes for him.
"Chen's sophistication in international affairs and performance have won him a good reputation in the business world," Tsai Horng-ming (
"We are delighted with the appointment," he said.
Chen's experience and international vision would help local companies to expand their business around the globe, Tsai said.
Duncan Levine, communication director at the European Chamber of Commerce Taipei, which has invited Chen to address its luncheons several times, said "Chen has a very good track record ? we look forward to working with him and anticipate him doing his work well."
Minister of Economic Affairs Morgan Hwang (
"I realized the difficulty in upgrading Taiwan's economy? Taiwan's urgent political situation always makes economic development a priority," he said yesterday.
Despite his success in turning around Taiwan Tobacco and Liquor Corp (
One example that has been cited was that business leaders turned to former economics minister Ho Mei-yueh (何美玥) to discuss various issues at a preparatory meeting for last month's Conference on Sustaining Taiwan's Economic Development, even though Hwang was also at the meeting.
But Hwang said he had not wasted any time since he took the job on Jan. 25.
"I think the spirit of contribution and hard work matter... I did not make any major mistakes during my tenure," he said.
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NEGOTIATIONS: Semiconductors play an outsized role in Taiwan’s industrial and economic development and are a major driver of the Taiwan-US trade imbalance With US President Donald Trump threatening to impose tariffs on semiconductors, Taiwan is expected to face a significant challenge, as information and communications technology (ICT) products account for more than 70 percent of its exports to the US, Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) president Lien Hsien-ming (連賢明) said on Friday. Compared with other countries, semiconductors play a disproportionately large role in Taiwan’s industrial and economic development, Lien said. As the sixth-largest contributor to the US trade deficit, Taiwan recorded a US$73.9 billion trade surplus with the US last year — up from US$47.8 billion in 2023 — driven by strong
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