Taiwan government will continue fine-tuning Taiwan’s business environment in an effort to attract more Japanese investment, according to Council for Economic Planning and Development Deputy Minister Wu Ming-ji.
“Taiwan-Japan economic relations remain at the forefront of CEPD policymaking,” Wu said. “The bilateral investment protection arrangement has brought trade activity to new heights, with new direct Japanese investments in Taiwan reaching a record high of 441 last year.”
The deputy minister’s remarks came in response to the latest white paper presented Nov. 2 by Taipei City-based Japanese Chamber of Commerce and Industry.
In the document, the chamber called on the government to fast-track implementation of the Cross-Straits Economic Cooperation Framework Agreement (ECFA) and negotiate more trade pacts with Taiwan’s major trading partners.
Other policy recommendations include improving the local business environment, negotiating a taxation agreement with Tokyo, maintaining dialogue with Japan’s public sector, and promoting Taiwan-Japan business collaboration.
The chamber also commended the government for its raft of policies aimed at spurring Taiwan’s economy after the ECFA took effect in September 2010, and urged Taipei and Beijing to expand the tariff concession list to cover more sectors.
Wu welcomed the chamber’s suggestions and said government efforts in improving Taiwan’s business climate have received several strong votes of confidence from global think tanks such as the World Bank and Business Environment Risk Intelligence.
“We urge the chamber to build on already strong Taiwan-Japan ties and do more to promote bilateral trade and conclude special agreements as opportunities arise.”