Taiwan to intensify New Southbound Policy

Taiwanese small and medium enterprises can expect more assistance: Minister without Portfolio John Deng

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President Tsai Ing-wen speaking at a New Southbound Policy forum Thursday (May 30).

President Tsai Ing-wen speaking at a New Southbound Policy forum Thursday (May 30). (By Central News Agency)

TAIPEI (Taiwan News) – The New Southbound Policy will grow stronger over the next few years, with closer cooperation with the 18 target countries, Minister without Portfolio and top trade negotiator John Deng (鄧振中) said Thursday (May 30).

Since the administration took office three years ago, a strong base has been laid, but it was time to march ahead and further intensify the policy in at least three areas, the United Daily News quoted the veteran economic official as saying.

Service for small and medium enterprises, deepening medical, agricultural and manufacturing cooperation, and country-to-country cooperation would be strengthened, Deng said.

In a speech at a New Southbound Policy forum in Taipei Thursday, the minister pointed at the positive results achieved in areas such as tourism, foreign students, investment and trade.

Amid the trade war between the United States and China, Taiwanese firms needed to reappraise their past involvement in China and try to spread risk, Deng said.

The supply of information, the training of staff and the search for partners in New Southbound Policy countries for Taiwanese small and medium enterprises needed to improve, the minister said, adding it would be a focus in the near future.

Cooperation on health issues should be more than just training a few doctors and sending over a medical team for one or two months, according to the minister, while a framework for cooperation in general would benefit both sides.

Taiwan’s New Southbound Policy targets countries in South Asia and Southeast Asia, as well as Australia and New Zealand.