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Lu pushes economic ties with Latin America

Vice President Annette Lu, center, accompanied by International Cooperation and Development Fund (ICDF) Secretary-General Chen Cheng-Chung, yesterday receives representatives from Taiwan's Central American allies. PHOTO: LO PEI-DER, TAIPEI TIMES

Vice-president Annette Lu (呂秀蓮) yesterday touted the recently launched "Taiwan Park in El Salvador" (台薩園區) as a model for the nation's economic collaboration with Latin American countries.

Lu made the comments while welcoming 28 high-ranking managers and development experts from seven countries in Central and South America to a one-month workshop in finance and economics, in which they will study Taiwan's development model.

In March, Lu led a group of professionals from government, business and academic circles to El Salvador to observe that country's economic development.

After the trip, Lu initiated a collaborative project, the "Taiwan Park in El Salvador," which is designed to attract Taiwanese investment to the Central American country and support the growth of a range of industries, including textiles, shoemaking, toolmaking, food-processing, automotive parts and household appliances.

The park will offer incentives for foreign investment, and will provide an opportunity for El Salvador to learn from Taiwan's economic and technical experience.

Lu said that a Cabinet-level taskforce has been established for the project in a bid to ensure the park's completion within three years. El Salvador has agreed to let Taiwan use 114 hectares of land in Comalapa to build and operate the park for 50 years.

The park will be the first of its kind in Central and South America, whose markets have been targeted by Taiwan as investment destinations that could reduce the country's dependence on the China market, Lu said.

Lu said that the park is only the beginning of Taiwan's strengthening of ties with countries in Latin America. She said that Taiwan will do its best to transfer its experience in economic development to them and promote investment in their countries.

"We hope to see more `Taiwan Parks' in your countries," Lu told the visitors.

Lu cited a recent trade deal between the US and Central American countries -- and a possible larger deal in the future -- which should boost markets in the region and so indirectly benefit Taiwan.

Six of Taiwan's diplomatic allies in Central America and the Caribbean (Guatemala, El Salvador, Nicaragua, Honduras, Costa Rica and the Dominican Republic) recently signed a free-trade agreement with the US. The Central American-Dominican Republic Free Trade Agreement, known as CAFTA-DR, provides for tariff-free trade between the countries.

Meanwhile, negotiations over the more ambitious Free Trade Area of the Americas agreement remain. In the future, countries from North to South America may form an economic bloc having a massive market of 854 million people.

Legislators who attended the meeting said that China, whose rising market is now a magnet for worldwide investment, does not have a monopoly on economic opportunities.

"Taiwan is aware that potential markets in Central and South America are good places for Taiwan to disperse economic risk," People First Party (PFP) Legislator Christina Liu (劉憶如) said.

Lu said that the Democratic Pacific Union (DPU), which will be established on Aug. 13 to promote democracy, peace and prosperity among Pacific Rim nations, will support international collaboration on similar projects.

Huang Wen-hsiung (黃文雄), Executive Secretary of the Presidential Advisory Council for Science and Technology and an experienced government official specializing in the operation of science parks in Taiwan, will be in charge of international collaboration at the DPU.

"Decades ago, we also went to advanced countries to learn how to design and operate a science park. Now, Hsinchu Science Park has been ranked one of the best of its kind in the world," Huang said.
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