Cabinet launches plan to promote ‘New Southbound Policy’

The Cabinet announced Monday that it has officially launched a plan to promote its "New Southbound Policy" that is aimed at enhancing trade and economic ties with countries in South Asia, Southeast Asia and the South Pacific.

The plan targets the markets of the 10 members of the Association of Southeast Asian Nations (ASEAN), six nations in South Asia, Australia and New Zealand, Minister Without Portfolio John Deng (???) said.

Under the plan, the government will integrate the resources and strengths of the public and private sectors in Taiwan to try to establish a new mutually beneficial model of cooperation with those countries through economic and trade partnerships, talent exchanges, resource sharing and regional connections, he said.

He said the relevant agencies under the Cabinet will draft their respective plans to implement the government's policy directives released Monday, and the Cabinet will monitor the execution of these plans.

A trade negotiation office to be established under the Cabinet will be responsible for communicating with the countries being courted, he added.

According to National Development Council Deputy Minister Kao Shien-quey (???), the Ministry of Economic Affairs will set up service counters in its trade offices in Indonesia, India, Thailand and Myanmar to help Taiwanese companies integrate local resources.

In Taiwan, service counters will also be available to provide business and investment information to companies interested in accessing the countries covered by the "New Southbound Policy," she said.

Source: Focus Taiwan News Channel