• Directory of Taiwan

Taiwan will attend U.N. conference in Paris despite attacks: official

Taiwan will attend U.N. conference in Paris despite attacks: official

Taipei, Nov. 16 (CNA) Taiwan will take part in the 2015 United Nations Climate Change Conference in Paris as scheduled despite the terrorist attacks last Friday in the French capital that has left 129 dead and many more injured, an official said Monday.

Wei Kuo-yen, minister of the Environmental Protection Administration (EPA), said two Taiwan delegations will attend the Nov. 3-Dec. 11 meeting as scheduled.

Speaking in a legislative committee meeting, Wei also said the EPA will put forth its goal of intended national determined contributions (INDC) at a joint news conference with the Ministry of Foreign Affairs on Tuesday. Taiwan is aiming to cut greenhouse gas emissions by 50 percent by 2030, a more ambitious goal than the 37 percent cut promised by South Korea, Wei said.

Meanwhile, Finance Minister Chang Sheng-ford said the deadly terrorists attacks will have only a "short-term" effect on Taiwan's stock market. Chang said that although France is the financial center of Europe, all countries are prepared for the market impact of the terrorist attacks, which French President Francois Hollande has called "an act of war."

Taiwan's National Stability Fund is keeping a close eye on global developments in the wake of the terrorist attacks, Chang said.

While Taiwan's bourse may become volatile over the short term, the National Stability Fund will 'brace for the unexpected" and is ready to step in if panic selling arises, he said.

The local bourse fell 34.1 points, or 0.41 percent, to close at 8,295.4 points Monday.

However, Tseng Ming-tsung, chairman of the Financial Supervisory Commission, said Taiwan "need not to be too scared" as the attack in France was an isolated incident.

Taiwan will have to observe the effects of the attack on France, its economy, Europe and the rest of the world, he said.

Tseng said Mega International Commercial Bank is the only Taiwanese financial institution that has a foothold in Paris, and risk of exposure of Taiwan's banking, insurance and securities sectors is around NT$400 billion (US$12.18 billion), a drop in the bucket compared with the financial institutions' total assets of NT$60 trillion. (By Chiu Po-sheng, Chang Ming-hsuen, Tsai Yi-chu and Lilian Wu)

Updated : 2021-09-17 14:31 GMT+08:00