Cooperation between Taiwan and Hong Kong could generate better results if they tap their complementary advantages in terms of their economies, Vice Minister of Economic Affairs Francis Liang (梁國新) said yesterday.
Liang said Taiwan is experienced in industrial development and has advanced technology and creativity, as well as strong supply chains.
A mutually beneficial situation could be created if Taiwan were to foster greater exchanges with Hong Kong, which has the edge in the trading, logistics, finance, shipping and tourism sectors, he said.
Liang said cooperation could also be made in the services sector, as well as e-commerce, which he described as the most important business model in recent years.
Citing customs statistics, Liang said bilateral trade between Taiwan and Hong Kong reached US$41.8 billion last year. Hong Kong was Taiwan’s fourth-largest trading partner and second-biggest export market, he said.
Charles Lee (李業廣), chairman of the Hong Kong-Taiwan Economic and Cultural Co-operation and Promotion Council, said the two sides had conducted various negotiations over the past year through official promotional agencies that were established in 2010.
Lee said that in the private sector, exchanges have also heated up, with more than 2 million visits by Taiwanese to Hong Kong as of the end of last year, the majority of which were made by business travelers.