The conclusions reached by the Economic Development Advisory Conference are a sign that the time has come to risk opening up trade with China, the head of the Mainland Affairs Council said yesterday.
"This is a clear demonstration from our side that we are prepared to take the risk [with] a positive attitude toward China," said Tsai Ing-wen (
PHOTO: AP
Tsai said that while the nation had little need for China in the 1990s -- because Taiwan had its own resources and was busily boosting its high-tech industry -- it now needs what China has to offer.
"There's a risk and it's a real risk, but we cannot avoid doing things because of it," Tsai said.
The economic conference's panel on cross-strait investment reached 36 conclusions.
The conclusions cover four principles: "actively opening up cross-strait trade and investment," "establishing efficient and sound mechanisms for cross-strait capital flow," "accession to the WTO and direct links" and "actively promoting cross-strait consultation and tourism from China."
The conference proposed changing the policy on investment in China from the "no haste, be patient" policy to "actively opening, effective management."
Tsai said that the proposal was a significant improvement and would be the main principle to resolve past, current and future problems concerning cross-strait issues.
The "no haste, be patient" policy was put in place by former president Lee Teng-hui (李登輝) in September 1996 to protect the interests of Taiwan's traditional industries.
An increasing number of Taiwan enterprises, however, have moved their plants to China and have complained that the government's firm stance on the policy has caused Taiwan to miss out on the trend of globalization.
About 40 percent of Taiwan's outward investment goes to China, and some of these investments now top US$50 million.
Conference advisors reached an agreement on most of the 36 conclusions yesterday.
But Morris Chang (張忠謀), chairman of Taiwan's largest chip-making company, Taiwan Semiconductor Manufacturing Co (台積電), insisted that the phrase "ease restrictions" under the principle of "easing restrictions on cross-strait trade and investment" also include the phrase "actively opening."
The clause reads: "Easing restrictions for items can contribute to the competitiveness and global operation capabilities of domestic industries and enterprises."
Chang earlier this year claimed that China's market was not mature enough for his company to invest there, but changed his attitude during yesterday's conference.
Chang Jung-kung (張榮恭), the director of the KMT's Mainland Affairs Division and also a conference advisor, said that the most important thing was for the government to set up a timetable to put the conclusions into practice.
Hsu Chun-hua (許春華), manager of the Chi Mei Enterprise, who coordinates the company's China investment, said that except for slogans, little has changed in the government's China investment policy.
"There have been so many enterprises investing in China, which matches the meaning of `actively opening,' but how does the government manage `effectively' and draw back the [capital] flow from China?" Hsu said.
Koo Chen-fu (辜振甫), Taiwan's top cross-strait negotiator, was positive about the conference's conclusions and said that more integration between two sides was nearing.
"Cross-strait economic integration is the first step, and there will be more happening in the future," Koo said.
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