Thu, Jul 19, 2007 - Page 11 News List

More cash available for exporters

By Jimmy Chuang  /  STAFF REPORTER

The government plans to spend an additional NT$900 million (US$27 million) to boost the exports of at least 65,000 local companies, Vice Premier Chiou I-jen (邱義仁) said yesterday.

This amount is on top of a NT$2.33 billion budget that the Ministry of Economic Affairs has allocated to marketing local products on the global market in the second half of the year and next year.

With the additional NT$900 million, the government aims to achieve double-digit growth in exports this year, Chiou said.

The nation's exports rose 11 percent last month from a year earlier to a record US$20.1 billion, the Ministry of Finance reported on July 9.

The ministry said at the time that it expected exports to remain strong in the third and fourth quarters, as they are typically high season for exporters.

The Cabinet's announcement yesterday came as the government banks on strong exports to boost the nation's economy, which the Directorate-General of Budget, Accounting and Statistics forecast in May would reach 4.38 percent this year, compared with 4.68 percent growth last year.

"For 2006, Taiwan's economic growth rate was 4.68 percent. More than 3.63 percent of that growth came from the net benefits of exports," Minister of Economic Affairs Steve Chen (陳瑞隆) said yesterday at a press briefing following the weekly Cabinet meeting. "Currently, trying to promote our companies in international markets and making them more compatible are our priorities."

The ministry also plans to offer NT$2 million to each company for use in international trade exhibitions in key markets, and NT$1.5 million to those targeting trade fairs in second-tier markets, he said.

"In addition, the government will help develop and establish the international image of local companies as well as educate future professionals to have expertise in international trading and marketing," Chen said.

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