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Industry group predicts no volatility in Taiwan's economy

Industry group predicts no volatility in Taiwan's economy

Taipei, Aug. 27 (CNA) The deputy head of a local industry group said Monday that he does not expect any volatility in Taiwan's economy in the coming months prior to two major political events in China and the United States. "The current economic conditions look more stable than in the past," Leslie Koo, deputy secretary-general of Taiwan's Chinese National Federation of Industries (CNFI), said in a monthly luncheon speech hosted by the European Chamber of Commerce Taipei (ECCT). Speaking of "one of the potential risks" that might affect Taiwan's economy, he cited the 18th National Congress of the Communist Party of China to be held later this year. He described the situation at present as stable, but did not further elaborate. Meanwhile, Koo said the U.S. presidential election slated to take place in November "should be seen as an upside factor." Asked about the role of the CNFI in helping to improve Taiwan's economy, Koo said the federation has urged the government over the past five years to speed up negotiations on economic cooperation agreements with its trade partners. In particular, he said, local industries would like to see a quick conclusion to a bilateral trade agreement between the European Union and Taiwan. In early August, ECCT President Chris James noted that the expatriate community in Taiwan is small compared with many other countries in the Asia-Pacific region, but he said that Taiwan is generally an attractive base for anyone with operations in East Asia, especially China. However, he said, Taiwan could become more competitive and could attract more foreign investment by speeding up its adoption of international standards and becoming a low carbon economy. To this end, he suggested that Taiwan should spur economic activity in low carbon solutions by promoting low carbon products and technologies. (By Jeffrey Wu)


Updated : 2021-05-07 12:24 GMT+08:00