President Tsai Ing-wen has called for Asia to become the world’s leading center of economic integration. The president was speaking Thursday at an event marking the fiftieth anniversary of the Confederation of Asia-Pacific Chambers of Commerce and Industry.
Tsai told the conference that Asia has become the world’s manufacturing center thanks to industrial links between regional countries and a division of labor among them. At the same time, she said, Asia has also become a center of consumption. Tsai said that the rise of the Asian middle class has prompted global brands to place the greatest importance on Asian markets.
Tsai said Asia will become the world’s most important market and so it must play a bigger role in promoting economic integration and liberalization. She said Asia must open markets and expand international trade and investment as the United States appears to be on a more protectionist path. She said that this will not only make Asia stronger but also help reduce economic uncertainty worldwide.
Tsai said that Taiwan supports economic integration and is willing to do more to further this process. She spoke about Taiwan’s plans to enhance trade ties with Southeast Asia, Australia and New Zealand, and about the Cabinet office set up to negotiate trade agreements. Tsai also said that the government is working to bring Taiwan’s domestic laws in line with international standards.
Source: Radio Taiwan International