Vice President Vincent Siew (蕭萬長) yesterday said an economic cooperation framework agreement (ECFA) with China was a “stepping stone” to success, but admitted that the pact has both benefits and drawbacks.
Siew said Taiwan’s economy had evolved from agriculture-based to high-tech. Taiwan must continue to internationalize to broaden its market.
Siew said the administration had mapped out two strategies for the nation’s economic development. First is to strengthen competitiveness, he said. Businesses must upgrade their overall quality and competitive edge by investing in innovation, research and development, marketing, design and branding, he said.
Second is to connect with the global market, he said.
“Because of political constraints, Taiwan does not have a chance to participate in regional economic integration,” he said.
An ECFA with China would serve as a “stepping stone,” he said.
Meanwhile, a Central News Agency report quoted an anonymous source as saying that the third round of ECFA talks was scheduled to be held at the end of this month.
The report also said that Taiwan and China had reached a consensus on signing an ECFA at the fifth meeting, adding that both sides needed one or two more meetings to finalize some details.
ADDITIONAL REPORTING BY CNA