The European Chamber of Commerce Taipei (ECCT) will recommend in its annual position paper to be published next week that Taiwan’s government work to sign a Trade Enhancement Measures (TEM) agreement with the EU.
In a briefing on this year’s Position Papers compiled by the board of directors and 22 of the ECCT’s committees and given to reporters yesterday, the ECCT said it would argue that Taiwan can improve its economic development and find a position on the international stage if it adjusts its legal system to international standards, opens its doors wider to imports from China and forges a TEM deal with Europe.
Negotiating a TEM has been one of the ECCT’s key recommendations to the government in recent years, and the group contended that it would strongly complement the Economic -Cooperation Framework Agreement (ECFA) that Taiwan signed with China in June.
In its previous position papers, the ECCT suggested that the signing of the ECFA and TEM would revitalize Taiwan’s economy and increase trade.
“An ECFA and a TEM can work together as a springboard for business, providing mutual benefit for all concerned. Taiwan can leverage this to promote itself as an advanced service center and a conduit for business, providing an essential hub for European business in the region,” last year’s position papers said.
It also predicted that once a TEM is signed, bilateral trade between Taiwan and the EU will increase by 21.6 billion euros (US$30.2 billion) within two to five years. This year’s position paper series, called “Putting the pieces together: Positioning Taiwan for growth in the global economic picture,” will be officially released at its monthly members’ luncheon on Tuesday.
The ECCT promotes the interests of European companies -operating in Taiwan by engaging with the government and institutions and by providing a platform for business networking and development opportunities.
The position papers help the ECCT convey the concerns of its nearly 700 members with regards to Taiwan’s business environment and offer recommendations to Taiwan’s government for solving specific issues.
The papers also serve to keep the European Commission, European national governments and European companies abroad informed about Taiwan’s business environment, the ECCT said.
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