Taiwanese trade groups yesterday called on the incoming administration to try its best to improve relations with China, ensure a stable energy supply and pursue free-trade agreements (FTA) with regional trade blocs.
The pleas came after the Democratic Progressive Party’s (DPP) presidential candidate, Vice President William Lai (賴清德), won the presidential election.
“Cross-strait relations sit atop the concern list for the new government and Taiwanese corporations alike since China is Taiwan’s largest trading partner and many companies have operations there,” the Taipei-based Chinese National Association of Industry and Commerce (CNAIC) said, extending its congratulations to Lai and his running mate, former representative to the US Hsiao Bi-khim (蕭美琴).
Photo: Carlos Garcia Rawlins, Reuters
Taiwan has gained importance in global trade, but has also grown more exposed to external risks, as globalization comes under serious challenges due to intensifying geopolitical tensions, CNAIC chairman Thomas Wu (吳東亮) said.
Wu suggested that the DPP government be more forward-looking and open-minded in restoring cross-strait dialogue and ensure a stable energy supply for the nation.
Lai has called himself a pragmatic worker for Taiwanese independenc, who would maintain the cross-strait “status quo,” as Taiwan is already an independent, sovereign nation, and that there is no need to take action to confirm this reality.
Photo: CNA
Lai has also vowed to carry out President Tsai Ing-wen’s (蔡英文) major policy goals — such as raising the ratio of renewable energy and the pursuit of net zero carbon emissions by 2050.
The Third Wednesday Club, whose membership is limited to the top 100 firms in individual sectors, said it believed that whichever party won the presidency would do its best to avoid conflicts. The group’s chairman, Lin Por-fong (林伯豐), said the new administration should seek to resolve cross-strait differences through negotiation.
China this month announced plans to scrap favorable trade terms for local machinery equipment exports to protest what it considers to be unfair trade practices on the part of Taiwan. China in 2010 granted favorable tax terms for 521 Taiwanese product items under the Economic Cooperation Framework Agreement, but cut 12 petrochemical items early this year.
The Taipei-based Chinese National Federation of Industries (CNFI) urged the government to handle cross-strait trade frictions with care and delicacy.
CNFI chairman Matthew Miao (苗豐強) said that Beijing’s retaliatory moves would have a negative impact on Taiwan’s traditional manufacturers and revenue, even though they only constitute a small share of the nation’s overall exports.
The government could help by setting up a communication channel with China and assist affected firms to expand to other foreign markets, the federation said.
Taiwan Association of Machinery Industry (TAMI) said that China-bound exports of machinery equipment amount to NT$88 billion (US$2.83 billion) per year, or 9.6 percent of total machinery exports. In the absence of favorable tax terms, the sector would take a hard hit, the association said.
All trade groups expressed concern about potential electricity shortages as the share of green energy, intended to make up for 20 percent of the energy mix by 2025, appears to be behind schedule.
Lai Cheng-i (賴正鎰), chairman of Shining Building Business Co (鄉林建設) and former head of the General Chamber of Commerce, said that the government last year raised electricity rates twice by double percentage points and could do so again this year, as the state-run Taiwan Power Co (台電) remains unprofitable.
Formosa International Hotels Group chairman Steve Pan (潘思亮) urged the government to ease rules governing migrant workers, saying that Taiwan’s fast-aging population and low fertility rate cause labor shortages and have slowed the hospitality and tourism sectors.
While service providers are not the nation’s main GDP growth driver, they do hire a large number of workers who cannot be replaced by artificial intelligence, Pan said, adding that policymakers have to face the issue and deal with it.
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