Cabinet approves projects under ‘New Southbound Policy’

The Cabinet on Wednesday gave approval for the implementation of a series of projects under the government’s “New Southbound Policy,” starting Jan. 1 next year.

The projects have been grouped into four main areas — trade and economic cooperation, talent exchange, resource sharing, and regional connection, according to a Cabinet press release.

In the area of trade and economic cooperation, the projects will be geared toward strengthening cooperation in the manufacturing industry, in infrastructure construction, systematic integration service exports and financial support, the Cabinet said.

In the area of talent exchange, the projects will be focused on the nurturing talent to build complementary human resources between Taiwan and the targeted countries, the Cabinet said.

In the sharing of resources, Taiwan will use its strengths in medical services, culture, tourism, technology and agriculture to establish partnerships with the targeted countries and to seek more opportunities for bilateral and multilateral cooperation, according to the Cabinet statement.

In the area of regional connection, the projects will seek to institutionalize bilateral and multilateral cooperation and elevate the level of dialogue, the Cabinet said.

The implementation of the projects will be coordinated and monitored by the Cabinet’s Office of Trade Negotiations.

Proposed by President Tsai Ing-wen (蔡英文), the new southbound policy seeks to promote Taiwan’s relations with countries in Southeast Asia and South Asia, as well as Australia and New Zealand.

Source: Focus Taiwan News Channel

Leave a Reply

Your email address will not be published. Required fields are marked *