Most domestic firms think that Taiwan should sign regional trade agreements (RTAs) with the US and Japan, while around 30 percent of them have no idea what an RTA is, according to the results of a recent poll.
The results of the survey conducted by the Chinese National Federation of Industries (CNFI, 全國工總) show that 63 percent of Taiwan-based businesses have an understanding of an RTA's functions and 33.7 percent of them think that Taiwan should ink such pacts, first with the US and Japan, then later with Singapore, South Korea and Thailand.
About 91 percent of the bus-inesses polled hailed the government's keen efforts to forge RTAs with other countries in recent years, with just a small percentage of them voicing worries that their businesses might be affected by further opening of the domestic market.
In addition, 84.9 percent of the firms surveyed believe that RTAs would boost their businesses.
Most of the Taiwan businesses favoring signing an RTA with the US have frequent business relations with the US, such as steel makers, textile firms and other export-oriented firms. Tea producers and toy makers also contend that a Taiwan-US RTA would help sharpen their competitiveness in the US market due to tariff reductions and increased quota amounts, according to the poll.
Meanwhile, 15.1 percent, most of them in local consumption sectors such as the cement industry, do not think that RTAs would help improve their businesses.
On the contrary, some of them said they feel RTAs would result in a damaging impact on their businesses.
The CNFI said it carried out the survey of its member companies to better understand the response of Taiwan-based businesses amid an increasing call for RTAs across the globe.
Asian-Pacific countries, including Australia, Japan, mainland China, New Zealand, South Korea and member states of the Association of Southeast Asian Nations are keen on promoting such accords, it noted.
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
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
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