President Ma Ying-jeou (馬英九) yesterday contradicted himself when talking about bilateral trade agreements. While he said bilateral negotiations would put Taiwan in an unfavorable position, his administration is making strenuous efforts to sign an economic cooperation framework agreement (ECFA) with Beijing.
Although Taiwan has signed five free-trade agreements (FTAs) with diplomatic allies in central America, Ma said trade volumes with the five allies combined comprise less than 1 percent of the country’s total trade volume.
“We need to sign more FTAs with our major trading partners and mainland China is absolutely the No. 1 choice,” Ma said.
He made the remarks while speaking at the opening ceremony of the Seventh Annual Global Chinese Business Leaders Forum held at Taipei’s Grand Hotel yesterday morning.
The two-day event was organized by Global Views Magazine and cosponsored by the Committee of 100.
Ma said there are “many factors” compelling his administration to be careful in leading the country forward, but its resolve is firm.
Only by doing so can Taiwan find a way out, further reduce cross-strait tensions and attain peace in the Taiwan Strait, he said.
As China is the country’s biggest trading partner, Ma said it was necessary for both sides to sign an ECFA in order to maintain trade volumes.
Bilateral trade has grown from NT$40 billion (US$1.25 billion) in 2000 when the Democratic Progressive Party (DPP) came to power to NT$130 billion last year when the Chinese Nationalist Party (KMT) took power.
China-bound exports have increased from 24 percent of total exports in 2000 to 40 percent last year, he said.
The number of foreign tourists has also grown by 11 percent, he said.
Over the past year, Ma said his administration has been frustrated and received much criticism, but also learned a lot of lessons.
He emphasized the path his administration was taking was the correct one and vowed to stay the course.
Looking ahead, Ma said the future looks promising.
The fourth quarter is estimated to see 5 percent growth, although over the year, the economy is projected to contract 4 percent.
Many local and international institutions have forecast the country’s growth next year at 3 percent to 4 percent, he said, adding that the situation looks “cautiously optimistic.”
Emphasizing that reform must not stop and progress cannot slow down, Ma said the country was in a race against time and with its neighbors.
There is both cooperation and competition between both sides of the Strait, but the influence of the world’s Chinese is growing, he said.
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