Taiwan supports Vietnam's bid to join the WTO and says bilateral market access talks between the two countries will conclude soon, the nation's representative office at WTO headquarters announced yesterday.
Yen Ching-chang (
Yen said that by supporting Vietnam's WTO membership, Taiwan -- Vietnam's second-largest source of foreign capital and a major trading partner -- will reap more than economic and trade benefits.
Taiwan's WTO representative said the agreement will bolster substantive bilateral relations between the two countries.
strategy
Addressing the eighth WTO working group meeting to focus exclusively on Vietnam, Yen said that nation has adjusted its economic structure and strategy since the late 1980s, increasing its attractiveness to foreign investors and capital.
Since Vietnam began its bid to secure WTO membership in 1995, Yen said, the country's market-opening efforts have accelerated vastly, with increasing Taiwanese investment in recent years testifying to the success of these efforts.
Taiwanese investment in Vietnam has grown fivefold from about US$2 billion in 1995 to the current level of US$10 billion.
Yen said he believes that more multinational corporations will make Vietnam their regional operational and manufacturing center, attracted by a trade partner whose policies comply with the WTO's free-trade spirit.
Yen said Vietnam's responses to Taipei's requests in previous bilateral talks have been useful and constructive, adding that the two sides' differences over product and service trade have narrowed.
market access
Taiwan's trade authorities are studying offers made by Vietnam in April on market access, and the assessment is expected to be completed soon.
This will pave the way for the two countries to complete their talks on Vietnam's WTO bid, Yen said.
Four factors led to the declaration of a typhoon day and the cancelation of classes yesterday, Taipei Mayor Chiang Wan-an (蔣萬安) said. Work and classes were canceled across Taiwan yesterday as Typhoon Krathon was forecast to make landfall in the southern part of the country. However, northern Taiwan had only heavy winds during the day and rain in the evening, leading some to criticize the cancelation. Speaking at a Taipei City Council meeting yesterday, Chiang said the decision was made due to the possibility of landslides and other problems in mountainous areas, the need to avoid a potentially dangerous commute for those
Typhoon Krathon, a military airshow and rehearsals for Double Ten National Day celebrations might disrupt flights at Taiwan Taoyuan International Airport in the first 10 days of next month, the airport’s operator said yesterday. Taoyuan International Airport Corp said in a statement that it has established a response center after the Central Weather Administration issued a sea warning for Krathon, and urged passengers to remain alert to the possibility of disruptions caused by the storm in the coming days. Flight schedules might also change while the air force conducts rehearsals and holds a final airshow for Double Ten National Day, it added. Although
SEMICONDUCTORS: TSMC is able to produce 2-nanometer chips and mass production is expected to be launched by next year, the company said In leading-edge semiconductor manufacturing China is behind Taiwan Semiconductor Manufacturing Co (TSMC) by at least 10 years as the Taiwanese chipmaker’s manufacturing process has progressed to 2 nanometers, National Science and Technology Council (NSTC) Minister Wu Cheng-wen (吳誠文) said yesterday. Wu made the remarks during a meeting of the Legislative Yuan’s Education and Culture Committee when asked by Democratic Progressive Party Legislator Wu Pei-yi (吳沛憶) about a report published in August by the Chinese version of Nikkei Asia that said Taiwan’s lead over China in chip manufacturing was only three years. She asked Wu Cheng-wen if the report was an accurate
PRO-CHINA SLOGANS: Two DPP members criticized police officers’ lack of action at the scene, saying that law enforcement authorities should investigate the incident Chinese tourists allegedly interrupted a protest in Taipei on Tuesday held by Hong Kongers, knocked down several flags and shouted: “Taiwan and Hong Kong belong to China.” Hong Kong democracy activists were holding a demonstration as Tuesday was China’s National Day. A video posted online by civic group Hong Kong Outlanders shows a couple, who are allegedly Chinese, during the demonstration. “Today is China’s National Day, and I won’t allow the displaying of these flags,” the male yells in the video before pushing some demonstrators and knocking down a few flagpoles. Radio Free Asia reported that some of the demonstrators
RSS