President Ma Ying-jeou (馬英九) yesterday met with Premier Liu Chao-shiuan (劉兆玄) and finance officials to discuss ways of dealing with the economic recession and asked that the Cabinet present practical strategies within three months on increasing exports and developing major industries.
The strategies will focus on diversifying export products, encouraging local industries to establish their own brands and acquiring key technologies, while pushing for the development of emerging industries, such as tourism, medical care, biotechnology and modern agriculture, the meeting concluded.
The signing of a Comprehensive Economic Cooperation Agreement (CECA) with China was also among the topics discussed at the meeting.
Ma said signing a CECA with China was part of his election platform and that his administration would push for the implementation of an agreement, Presidential Office Spokesman Wang Yu-chi (王郁琦) told reporters after the three-hour closed-door meeting yesterday.
Wang said Ma told the meeting that as to the title, content and form of the agreement, he would seek opinions from the public. The opposition party and the public were welcome to share their thoughts on the issues, Ma said, adding that normalizing cross-strait economic and trade relations remained a major aim of his administration and that the government would continue pushing for more cross-strait exchanges, while seeking public consensus.
Ma asked Liu and the Cabinet to report on the current economic situation and possible solutions to the downturn after the latest data released by the Directorate-General of Budget, Accounting and Statistics (DGBAS) published on Wednesday showed the nation’s economy was officially in recession. The data showed that GDP shrank by 8.36 percent in the fourth quarter of last year after a bigger-than-expected decline in exports that prompted the private sector to halt or delay investment.
Council for Economic Planning and Development Chairman Chen Tain-jy (陳添枝) yesterday presented a report on the nation’s overall economic situation and possible solutions to the financial crisis.
Ma and the Cabinet focused their discussion on the long-term development of local industries amid the global financial crisis. Specific policies were not included in the discussion, Wang said.
Ma called on the Cabinet to invite public bids for public construction works and to implement the projects as quickly as possible. He said he expected the legislature to pass a NT$500 billion (US$14.3 billion) budget so that the government could improve the economic situation.
Wang dismissed talk of a possible Cabinet reshuffle because of the financial crisis and stressed that the meeting was held simply to discuss solutions to the recession.
“The Cabinet’s strategies to revive the economy are no different from those presented by other nations’ governments. However, the president suggested that the Cabinet should pay particular attention to their effectiveness and the public’s expectations,” Wang said.
Ma will preside over another meeting this morning to discuss major social issues, including the possible renaming of Taiwan Democracy Memorial Hall.
RETHINK? The defense ministry and Navy Command Headquarters could take over the indigenous submarine project and change its production timeline, a source said Admiral Huang Shu-kuang’s (黃曙光) resignation as head of the Indigenous Submarine Program and as a member of the National Security Council could affect the production of submarines, a source said yesterday. Huang in a statement last night said he had decided to resign due to national security concerns while expressing the hope that it would put a stop to political wrangling that only undermines the advancement of the nation’s defense capabilities. Taiwan People’s Party Legislator Vivian Huang (黃珊珊) yesterday said that the admiral, her older brother, felt it was time for him to step down and that he had completed what he
Taiwan has experienced its most significant improvement in the QS World University Rankings by Subject, data provided on Sunday by international higher education analyst Quacquarelli Symonds (QS) showed. Compared with last year’s edition of the rankings, which measure academic excellence and influence, Taiwanese universities made great improvements in the H Index metric, which evaluates research productivity and its impact, with a notable 30 percent increase overall, QS said. Taiwanese universities also made notable progress in the Citations per Paper metric, which measures the impact of research, achieving a 13 percent increase. Taiwanese universities gained 10 percent in Academic Reputation, but declined 18 percent
UNDER DISCUSSION: The combatant command would integrate fast attack boat and anti-ship missile groups to defend waters closest to the coastline, a source said The military could establish a new combatant command as early as 2026, which would be tasked with defending Taiwan’s territorial waters 24 nautical miles (44.4km) from the nation’s coastline, a source familiar with the matter said yesterday. The new command, which would fall under the Naval Command Headquarters, would be led by a vice admiral and integrate existing fast attack boat and anti-ship missile groups, along with the Naval Maritime Surveillance and Reconnaissance Command, said the source, who asked to remain anonymous. It could be launched by 2026, but details are being discussed and no final timetable has been announced, the source
CHINA REACTS: The patrol and reconnaissance plane ‘transited the Taiwan Strait in international airspace,’ the 7th Fleet said, while Taipei said it saw nothing unusual The US 7th Fleet yesterday said that a US Navy P-8A Poseidon flew through the Taiwan Strait, a day after US and Chinese defense heads held their first talks since November 2022 in an effort to reduce regional tensions. The patrol and reconnaissance plane “transited the Taiwan Strait in international airspace,” the 7th Fleet said in a news release. “By operating within the Taiwan Strait in accordance with international law, the United States upholds the navigational rights and freedoms of all nations.” In a separate statement, the Ministry of National Defense said that it monitored nearby waters and airspace as the aircraft