The European Chamber of Commerce Taipei (ECCT) yesterday renewed its call for Taiwan to sign an economic cooperation framework agreement (ECFA) with China, saying it could remove political barriers for Taipei to initiate negotiations for a trade enhancement agreement (TEM) with the EU.
Although the government has put a priority on the ECFA, “we urge Taiwan to take ownership of the TEM project as the next step after [the] ECFA,” ECCT chairman Philippe Pellegrin told a media briefing yesterday while releasing its 2009-2010 position paper titled Taiwan Bouncing Back.
Pellegrin said the trade pact with China would create a triple win for Taiwan’s economy, local businesses and foreign companies considering Taiwan as a springboard to China.
TEM measures would boost the EU’s annual GDP by 2 billion euros (US$3 billion) and Taiwan’s economy by 3.8 billion euros, the chamber said.
Pellegrin refused to respond to questions on whether the Taiwanese government’s policymaking credibility had been tainted by “missteps” in its beef negotiations with Washington, which could have a negative impact on inking a trade pact with China. He only said “we will be very disappointed if the ECFA is postponed.”
In the latest position paper, the ECCT listed 133 recommendations, including 98 issues from the 2008-2009 position paper that were not resolved. Only 11 of the 164 recommendations in 2008-2009 were addressed last year.
The chamber expressed frustration over the government’s failure to resolve agrochemical intellectual property rights infringements and a ban on certain electronic imports.
It also urged the government to create a “robust tax system” to enhance Taiwan’s competitiveness in attracting foreign direct investments as well as to take the initiative in implementing energy-saving measures.
Taiwan can save NT$46 billion annually by adopting energy-efficient technologies in offices and residential buildings and reduce carbon emissions by 30 percent, ECCT vice chairman Peter Weiss said.
Overall, at the cost of 1.5 percent of a country’s GDP, investments in energy-saving technologies could boost its economy by between 5 percent and 20 percent annually in addition to lowering carbon emissions, he added.
Separately, the Ministry of Economic Affairs (MOEA) yesterday said that the signing of an ECFA would help boost the domestic market by creating between 257,000 and 263,000 jobs.
The ministry said in a statement that recent media reports that 1.63 million workers would lose their jobs if the pact were signed were not true.
It said the ECFA would give Taiwan an edge by allowing firms to move into China earlier than competitors and increase Taiwanese products’ market share across the Taiwan Strait.
It would also position Taiwan as a strategic partner for foreign companies when they seek to make inroads in the China market, the statement said.
ADDITIONAL REPORTING BY JASON TAN
PharmaEssentia Corp (藥華醫藥) shares have jumped 80.56 percent since the company obtained a US polycythemia vera (PV) drug license for its new interferon drug Besremi (ropeginterferon alfa-2b-njft) on Nov. 12. Shares on Friday closed at NT$195 in Taipei trading, up from the stock’s closing price of NT$108 on Nov. 12. PV is a rare, chronic and life-threatening blood cancer linked to a stem cell mutation in the bone marrow that results in an overproduction of blood cells and places sufferers at risk of having a blood clot, stroke or heart attack. PharmaEssentia is preparing to make Besremi available in the US in the
The US$410 DeliSofter pot looks much like the rice cookers ubiquitous in Japanese households and it does prepare rice in 24 minutes. However, this invention of two Panasonic Corp engineers is designed to do more and help people with swallowing difficulties. The two women led the creation of a spin-off company, Gifmo Co, to sell the specialized steam cooker, which they say can turn fried chicken soft enough to be sliced with a potato chip. The machine works by first cutting into food with a series of blades and then subjecting it to extremely high pressure at a temperature of 120°C,
Google’s Irish subsidiary has agreed to pay 218 million euros (US$244.94 million) in back taxes to the Irish government, company filings showed on Thursday. The US tech giant, which had been accused of avoiding tax across Europe through loopholes known as the “Double Irish, Dutch Sandwich,” said it had “agreed to the resolution of certain tax matters relating to prior years.” Google Ireland Ltd said it would pay corporation tax of 622 million euros for last year, including the 218 million euros of backdated tax settlement and interest charges. The previous year, Google Ireland paid taxes of 263 million euros. The company, which is
Ginko International Co (金可國際), the nation’s biggest maker of contact lenses, yesterday said that its board of directors approved a takeover bid of NT$27.18 billion (US$976.43 million) by Glamor Vision Ltd and its subsidiary Glamor International Ltd. The Glamor offer was to buy all 97.07 million Ginko shares for NT$280 each, Ginko said in statement submitted to the Taiwan Stock Exchange. That represents a premium of 38.61 percent compared with Ginko’s closing price of NT$202 on Thursday. After the transaction, Ginko would become a private company, with all shares delisted from Taipei Exchange, the statement said. The firm’s global headquarters in Taichung and its
RSS