Though both sides of the Strait are now members of the WTO, Taiwan will take it slow when it comes to opening its markets to low-cost products from China, government officials said yesterday.
"Because we expect to see low-cost commodities imported from China cause a substantial impact on the local market, it'd be a better idea to gradually open the market to China -- especially agricultural and industrial goods," Premier Chang Chun-hsiung (張俊雄) said yesterday.
Chang said a transitional period was needed to give local industries time to adjust. During that period, the premier said, cross-strait trade policies will be developed according to three principles.
"First, bilateral trade with China will be conducted based on a safe and stable foundation," Chang said.
"Secondly, the government will try to complete the necessary adjustments before June, including amending laws and implementing some planned projects."
Finally, he said, the government will push for cross-strait negotiations in an effort to minimize the potential risks of doing business with China. The premier said that while the government hopes to start trade talks and negotiations with China, discussions must take pla ce in accordance with WTO rules.
"The ultimate goal is to construct a normal and healthy economic relationship with China," he said. "We don't know how long the transitional period will be, but we'll make sure that every policy made will be made in accordance with the WTO regulations."
Chang made the remarks yesterday after a weekly closed-door Cabinet meeting.
Attending the Cabinet's first meeting of this year yesterday, Chang -- who rarely addresses reporters after meetings -- took the opportunity to lay out the government's policies and goals following Taiwan's accession to the WTO.
Chang yesterday said that some sectors could be opened up to China by the middle of this month. He said capital from China would be permitted within six months.
"We plan to open the market to China for certain businesses that require no amendments to existing laws before Jan. 15," he said.
As for changes that require legislative action, Chang said the Cabinet plans to approve related draft amendments before Jan. 31, when the legislature concludes its current session.
Chang also said the Cabinet was still searching for Taiwan's first WTO representative. "The person must possess an extensive background in economics and politics to be qualified for the post," he said.
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