Taiwan conducted several bilateral meetings with its APEC counterparts yesterday on a variety of issues, Minister of Economic Affairs Ho Mei-yueh (
In particular, during talks with WTO Director-General Pascal Lamy, Ho said she has expressed the government's hope to be included in the WTO's Government Procurement Agreement (GPA), as Taiwan made the promise as a condition of its WTO entry to accede to the pact one year after accession, but it has yet to be approved by other members.
Ho said Taiwan has talked with trade officials from the US, Canada, Vietnam and Indonesia over issues such as beef imports, industrial cooperation and easing trade and investment barriers. It will also arrange bilateral meetings with other countries which are still under negotiation, she said.
Reopening Taiwan to beef imports from the US is a main concern of US officials, but Ho said the decision is up to the Department of Health.
Given the huge number of Taiwanese investments in Vietnam, Ho called on Vietnamese officials to remove trade obstacles for Taiwanese companies doing business in that country.
She also said the 21 economics ministers at the APEC meeting had endorsed a joint statement renewing their commitment to establishing a free-trade area in the region by 2020.
Although some APEC ministers have said next month's WTO talks in Hong Kong would collapse if the EU did not make a bigger cut in its farm subsidies, Ho said APEC members hope to adopt "sectoral tariff reductions" as a way to move forward the negotiations.
For example, Taiwan, South Korea, Japan and the US have agreed to cut tariffs to zero on integrated circuit modules used in electronics and telecommunications products, she said.
In related news, Teco Group (
Huang told reporters that he would propose the realization of direct cross-strait transportation at a group meeting with Chinese President Hu Jintao (
He said he would also probe Hu's intentions toward inking a free-trade pact with Taiwan.
Lin Hsin-yi (
Lin is staying at the same hotel as Japanese Prime Minister Junichiro Koizumi and Thai Prime Minister Thaksin Shinawatra.
SELL-OFF: Investors expect tariff-driven volatility as the local boarse reopens today, while analysts say government support and solid fundamentals would steady sentiment Local investors are bracing for a sharp market downturn today as the nation’s financial markets resume trading following a two-day closure for national holidays before the weekend, with sentiment rattled by US President Donald Trump’s sweeping tariff announcement. Trump’s unveiling of new “reciprocal tariffs” on Wednesday triggered a sell-off in global markets, with the FTSE Taiwan Index Futures — a benchmark for Taiwanese equities traded in Singapore — tumbling 9.2 percent over the past two sessions. Meanwhile, the American depositary receipts (ADRs) of Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the most heavily weighted stock on the TAIEX, plunged 13.8 percent in
A wave of stop-loss selling and panic selling hit Taiwan's stock market at its opening today, with the weighted index plunging 2,086 points — a drop of more than 9.7 percent — marking the largest intraday point and percentage loss on record. The index bottomed out at 19,212.02, while futures were locked limit-down, with more than 1,000 stocks hitting their daily drop limit. Three heavyweight stocks — Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), Hon Hai Precision Industry Co (Foxconn, 鴻海精密) and MediaTek (聯發科) — hit their limit-down prices as soon as the market opened, falling to NT$848 (US$25.54), NT$138.5 and NT$1,295 respectively. TSMC's
ASML Holding NV, the sole producer of the most advanced machines used in semiconductor manufacturing, said geopolitical tensions are harming innovation a day after US President Donald Trump levied massive tariffs that promise to disrupt trade flows across the entire world. “Our industry has been built basically on the ability of people to work together, to innovate together,” ASML chief executive officer Christophe Fouquet said in a recorded message at a Thursday industry event in the Netherlands. Export controls and increasing geopolitical tensions challenge that collaboration, he said, without specifically addressing the new US tariffs. Tech executives in the EU, which is
In a small town in Paraguay, a showdown is brewing between traditional producers of yerba mate, a bitter herbal tea popular across South America, and miners of a shinier treasure: gold. A rush for the precious metal is pitting mate growers and indigenous groups against the expanding operations of small-scale miners who, until recently, were their neighbors, not nemeses. “They [the miners] have destroyed everything... The canals, springs, swamps,” said Vidal Britez, president of the Yerba Mate Producers’ Association of the town of Paso Yobai, about 210km east of capital Asuncion. “You can see the pollution from the dead fish.
RSS