On Nov. 9 and Nov. 10, China and Taiwan's membership applications to the WTO were approved at the trade body's ministerial meeting in Qatar, with the nations becoming the group's 143rd and 144th members.
The approval marked the end of a 12-year quest for the two nations to become WTO members.
China became a member on Nov. 18 this year, while Taiwan will become a member on Tuesday. The legislature approved Taiwan's accession on Nov. 16.
PHOTO: CHIANG-YING YING
Under the WTO framework, Taiwan must further open its market to foreign companies and improve its economic ties with China.
With its markets more open, Taiwan's competitiveness will be put to the test.
In order to gain accession, Taiwan has committed itself to major reductions in import tariffs -- 35.6 percent on agricultural products and 31.2 percent on industrial goods.
Most tariff reductions will be made immediately, with the rest to be made by 2004.
In the automobile sector, Taiwan will reduce tariffs by 17.5 percent within nine years of joining.
The anticipated impact of WTO membership for both China and Taiwan is profound, especially for industries that have enjoyed government protection, such as the automobile sector and agriculture industry.
The anticipated export boost after WTO entry will not occur quickly, although import barriers will be lifted immediately -- especially those set up to limit the import of Chinese products.
Of major concern is whether Taiwan can bear the impact of WTO entry, especially at a time of high unemployment.
Some fear that the trade body's rules might increase the nation's growing unemployment rate.
Other concerns have been raised over pollution and foreign cultural invasion.
Taiwan's WTO entry will bring great change, presenting both opportunities and challenges for a country that lives and dies by trade.
PREPARATION: Ferry lines and flights were canceled ahead of only the second storm to hit the nation in November, while many areas canceled classes and work Authorities yesterday evacuated more than 3,000 people ahead of approaching Tropical Storm Fung-wong, which is expected to make landfall between Kaohsiung and Pingtung County this evening. Fung-wong was yesterday morning downgraded from a typhoon to a tropical storm as it approached the nation’s southwest coast, the Central Weather Administration (CWA) said, as it issued a land alert for the storm. The alert applies to residents in Tainan, Kaohsiung, Pingtung and Taitung counties, and the Hengchun Peninsula (恆春). As of press time last night, Taichung, Tainan, Kaohsiung, and Yilan, Miaoli, Changhua, Yunlin, Pingtung and Penghu counties, as well as Chiayi city and county had
SELF-DETERMINATION: German lawmakers add earth to an art installation in front of the Reichstag to show that the face of a nation lies with its people, Tsai Ing-wen said Taiwan’s future should be decided by Taiwanese, German-Taiwan Parliamentary Friendship Group chairman Till Steffen said yesterday, while giving former president Tsai Ing-wen (蔡英文) a tour of the German parliament building. Tsai arrived in Berlin on Sunday and the following day delivered a keynote speech at the Berlin Freedom Conference titled “Threats facing democracies: Taiwan’s experience defending freedom.” Tsai yesterday attended a tea gathering at the Bundestag, joined by former friendship group chairman of 15 years Klaus-Peter Willsch, German defense affairs specialist Roderich Kiesewetter and Federal Ministry of Education, Family Affairs, Senior Citizens, Women and Youth Parliamentary State Secretary Michael Brand. Noting that the
BOOST IN CONFIDENCE: The sale sends a clear message of support for Taiwan and dispels rumors that US President Donald Trump ‘sold out’ the nation, an expert said The US government on Thursday announced a possible sale to Taiwan of fighter jet parts, which was estimated to cost about US$330 million, in a move that an expert said “sends a clear message of support for Taiwan” amid fears that Washington might be wavering in its attitude toward Taipei. It was the first announcement of an arms sale to Taiwan since US President Donald Trump returned to the White House earlier this year. The proposed package includes non-standard components, spare and repair parts, consumables and accessories, as well repair and return support for the F-16, C-130 and Indigenous Defense Fighter aircraft,
CHECKING BOUNDARIES: China wants to disrupt solidarity among democracies and test their red lines, but it is instead pushing nations to become more united, an expert said The US Department of State on Friday expressed deep concern over a Chinese public security agency’s investigation into Legislator Puma Shen (沈伯洋) for “secession.” “China’s actions threaten free speech and erode norms that have underpinned the cross-strait ‘status quo’ for decades,” a US Department of State spokesperson said. The Chongqing Municipal Public Security Bureau late last month listed Shen as “wanted” and launched an investigation into alleged “secession-related” criminal activities, including his founding of the Kuma Academy, a civil defense organization that prepares people for an invasion by China. The spokesperson said that the US was “deeply concerned” about the bureau investigating Shen
RSS