Alexa

Taiwan sets 2013 export growth target of 5.5%

Taiwan sets 2013 export growth target of 5.5%

Taipei, May 23 (CNA) The Ministry of Economic Affairs pledged Thursday to work toward achieving a 5.5 percent annual growth in exports this year, despite the unsatisfactory performance in the first four months. In a report to the Cabinet, the ministry said Taiwan's exports have not performed as well as expected mainly because they tend to be concentrated in a small number of markets, and demand had been weak in those markets. Slow sales of information and communication products have also undermined exports from that sector, the ministry said. Other contributing factors include efforts by other countries to become less reliant on imported products, it added. As part of efforts to boost exports, the ministry said, it is planning to invite 1,738 buyers to Taiwan this year through the country's overseas offices or the Taiwan External Trade Development Council. Premier Jiang Yi-huah noted during the meeting that Taiwan's exports increased only 1.3 percent between January and April this year, after suffering a 2.3 percent decline in 2012. The government must pay extra attention to the situation because the public expects the economy to maintain its growth momentum, he said. Besides its short-term measures to promote exports, the government needs to make long-term efforts such as expediting the negotiation of economic cooperation agreements with Taiwan's trade partners, adjusting the country's industrial structure, attracting more investments and resolving the demand-supply imbalance in the labor market, the premier said. (By Chiachen Hsieh and Y.F. Low)


Updated : 2021-03-09 06:21 GMT+08:00