The Ministry of Foreign Affairs’ (MOFA) budget proposal for the next fiscal year suggests increased funding for initiatives in Central and South America, as Taiwan seeks to bolster ties in the region.
The budget includes NT$5.37 billion (US$175.32 million) to promote bilateral and multilateral cooperation, of which NT$237.8 million would be spent on foreign aid for allied countries or those with diplomatic relations with Taiwan, an increase of NT$200 million from this year, the proposal said.
An additional NT$5 billion has been earmarked for supporting livelihoods, infrastructure and vocational training for diplomatic allies in Latin America and the Caribbean, it said.
Photo: Taipei Times
Moreover, NT$207.4 million would be earmarked for receiving delegations from the region, it said.
The ministry allocated NT$85.75 million this year to invite 174 visitors from Latin America and the Caribbean, which would be increased to NT$207.4 million next year as it plans to welcome 330 guests from the region, it added.
The increased regional focus pushes next year’s delegation and state visits budget to NT$695.7 million, significantly higher than this year’s NT$464 million.
The ministry said it intends to invite ruling and opposition party leaders from diplomatic and friendly allies to visit Taiwan to deepen their understanding of the country and strengthen pro-Taiwanese sentiment.
It would also organize delegations to promote economic cooperation and business opportunities while exploring procurement, marketing and investment prospects, aiming to enhance Taiwan’s economic relations with allied countries, it said.
About NT$33.2 million would be used to establish and organize economic trade delegations to Latin America and the Caribbean, while the budget for the Department of Latin American and Caribbean Affairs would increase to NT$63 million for international exchange initiatives, it added.
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