A large number of Australian and New Zealand companies find it difficult to operate businesses in Taiwan and enter the Taiwanese market because of regulations and inadequate information, according to a poll conducted by the Australia New Zealand Chamber of Commerce (ANZCham) in Taipei.
The poll, which is part of an annual discussion paper launched Tuesday by ANZCham, showed only 38 percent of 20 companies surveyed agreed it was easy for a foreign company to run a business in Taiwan, while 50 percent disagreed.
Some 38 percent of respondents agreed it was easy for a foreign company to enter the Taiwanese market, as opposed to 56 percent who disagreed, according to the poll conducted between April and May.
In particular, Australian and New Zealand companies operating in Taiwan tend to feel that laws and regulations are not flexible enough or the information available is inadequate or insufficiently clear, the discussion paper noted.
"Many respondents also encountered challenges with the banking system feeling information in English is not sufficient and current systems are not sufficiently digitized," the paper said.
However, 44 percent of respondents felt that Taiwan's government was supportive of their business, with only 19 percent expressing the opposite opinion.
In addition to the survey, the discussion paper also identifies various recommendations based on feedback from Australian and New Zealand companies for the Taiwanese government to enhance business activities within the trilateral relationship.
As the free trade agreement between Taiwan and New Zealand signed in 2013 "continues to pay dividends," ANZCham called on Taiwan and Australia to pursue a broad-based economic cooperation agreement, saying it "will provide opportunities for both sides to increase and diversify trade between the two countries."
In addition, ANZCham "strongly supports Taiwan's application to join the CPTPP," the report said, referring to the transnational Comprehensive and Progressive Agreement for Trans-Pacific Partnership trade pact, ratified in 2018.
"We believe that Taiwan's inclusion will drive significant value to all members states -- including Taiwan -- and are happy to provide any support we can," the group said in the paper.
Taiwan formally submitted its application to join the CPTPP in September, about a week after China. The government said at the time that it would begin accession talks with all 11 CPTPP members to seek their support and learn about their most pressing concerns.
In its paper, ANZCham also underlined the importance of reopening borders to allow businesses and people to connect, and to resume business activities. It called for discussions between Taiwan, Australia and New Zealand over the issue to "ensure safe travel and maintain the people-to-people and business links."
At the paper's launch event, Minister of the National Development Council Kung Ming-hsin (???) said the government has worked hard over the past few years to relax regulations.
There is still a long way to go in terms of regulatory reform and deregulation, Kung said, adding that the government welcomes relevant advice from the business sector.
As for calls from the business group for Taiwan to ease its border control measures, Kung did not directly address the issue but did stress that all parties have the same goal.
Established in 1991, ANZCham aims to promote the interests of Australian and New Zealand businesses in Taiwan and acts as a bridge between business, government and the community.
Source: Focus Taiwan News Channel