New Southbound Policy helps transformation of Taiwan’s businesses: NDC

Taiwan will be forced to upgrade its consumer products

A shopping mall in Thailand (photo courtesy of Wpcpey)

A shopping mall in Thailand (photo courtesy of Wpcpey) (By Wikimedia Commons)

TAIPEI (Taiwan News) – The government’s New Southbound Policy will help with the transformation of Taiwan’s business sector, according to the National Development Council (NDC).

Since the current government came to power in May 2016, it has been promoting a New Southbound Policy which pushes closer ties with the nations of South and Southeast Asia, as well as with Australia and New Zealand.

At a seminar organized by the Ministry of Foreign Affairs Friday, NDC Deputy Minister Chiou Jiunn-rong (邱俊榮) said that as a result of Taiwan’s previous orientation toward China, it now found out that when it went to Southeast Asia, it had no popular products to sell to compete with items from Japan or South Korea.

Taiwan needed internal structural reform, which could be triggered by its problems in approaching Southeast Asian markets, the Liberty Times quoted Chiou as saying.

The official said Taiwan should stop only looking at China, but try and improve its products and services to appeal to European markets. If exports to Europe rose, that would signify that the quality of Taiwan’s manufacturing had been successfully upgraded, Chiou said.

As to the impact of a looming U.S.-China trade war, the NDC deputy minister said Taiwan should not be too pessimistic, since there was no harm in Washington taking some measures against Beijing.