Taiwan's exports to ASEAN member countries have registered double-digit growth for seven months in a row. That's according to a report released by the finance ministry on Monday.
Exports stood at 14.1% growth year-on-year last month, making ASEAN nations a leading export market.
Exports to Malaysia stood at 32% growth, followed by Thailand at 28% and the Philippines at 18%. Exported goods include electronic components, mineral products and items related to information and communications.
The government has been promoting its New Southbound policy, which aims to forge closer ties with Southeast Asia, India, New Zealand and Australia. Finance Ministry official Tsai Mei-na says the policy helps boost growth.
It could be one of the reasons, as ASEAN is the target area of the [manufacturers]. That's undeniable," said Tsai. "Also, the industry structures complement each other and there is a division of labor. Plus, the government is actively promoting the New Southbound policy. These positive factors have pushed up the performance of our exports to ASEAN countries."
Source: Radio Taiwan International