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ECCT calls for better regulatory environment in Taiwan

ECCT calls for better regulatory environment in Taiwan

Taipei, Nov. 3 (CNA) The European Chamber of Commerce Taiwan (ECCT, ????) said in its annual position papers Tuesday that an improved regulatory environment would put Taiwan in a better position to face challenging global conditions. This year's papers, themed "Decision Time: Taking Courageous Action in Uncertain Times," include separate submissions from 23 of the ECCT's 29 industry and support committees and raise 130 issues, of which 76 are unresolved from previous years and 54 are new issues. The overview of the papers outlines some of the major challenges that Taiwan is facing, and argues that the country's immediate challenge is dealing with economic headwinds as a result of the global economic slowdown. The overview makes the point that leading Taiwan through uncertain economic times and dealing with the multiple and complex challenges will require "creative thinking, some tough decisions and courageous action on the part of the government." "While the government has no control over global economic conditions, there are many ways it could act to improve the economic and regulatory environment that would put Taiwan in a better position to face challenging global conditions," the ECCT's 2016 Position Papers said. "In particular, an attractive regulatory environment would lead to a virtuous cycle of rising investment, trade, growth and the creation of good jobs," the papers added. The ECCT lists many examples of areas in which Taiwan has not yet adopted or harmonized local standards with the best international standards and practices, including automobile emissions and parts, financial services, cosmetics, and customs and logistics procedures. The chamber urged authorities to recognize internationally-accepted test reports to eliminate the need for double-testing and other technical barriers to trade. The ECCT represents more than 820 individual members and over 400 companies and organizations. With over US$33 billion in direct foreign investment, European businesses remain the largest group of foreign investors in Taiwan. (By Jeffrey Wu)


Updated : 2021-09-27 01:55 GMT+08:00