The Democratic Progressive Party (DPP) yesterday criticized the cross-strait Economic Cooperation Framework Agreement (ECFA) “part fantasy,” saying it had failed to generate any substantial gains for Taiwan’s economy, while at a separate setting the Mainland Affairs Council (MAC) attributed the nation’s significant growth in exports of certain agricultural products to the trade pact.
At a press conference marking the first anniversary of the trade pact’s signing, Mainland Affairs Council Minister Lai Shin-yuan (賴幸媛) said exports of tea, orchids, grouper, milk fish and other agricultural products had increased 526 percent year-on-year to US$49.42 million during the January-to-May period after the ECFA took effect at the start of the year.
The figures show that critics of the trade deal are wrong and that the government has kept its promise to safeguard the interests of local farmers when it was negotiating the pact with China, Lai said.
Taiwan’s total exports to China rose 11.1 percent from the same period last year, but Taiwan was not overly dependent on China as its percentage of total exports had dropped from 43.3 percent last year to 40.7 percent this year, she added.
DPP spokesperson Chen Chi-mai (陳其邁), however, criticized government claims over the benefits of the ECFA at a press conference, saying that the pact had failed to spur domestic investment and instead accelerated capital outflows to China.
It has also failed to lift salaries, which have remained stagnant for the last decade, Chen said.
Chen said the DPP was of the opinion that the government’s rosy projections had fallen short and claims that the ECFA would create jobs and increase Taiwanese exports had failed to materialize.
“Instead, Taiwan’s income gap has grown to a historic high of 75 times [between the richest and poorest 5 percent], unemployment is still the highest among the Four Asian Tigers, and average salaries have fallen to levels seen 12 years ago,” he said.
Initial claims that the ECFA would spur the return of Taiwanese manufacturers have instead turned the other way around, Chen said, adding that the trade pact had increased the likelihood that companies would relocate to China to export back to Taiwan, taking advantage of lowered tariffs.
He said the administration of President Ma Ying-jeou (馬英九) needed to carefully review and “fix” the agreement.
DPP Chairperson and presidential candidate Tsai Ing-wen (蔡英文) has vowed to reassess the trade pact if elected next year, but has stopped short of calling for its nullification. Her remarks have largely been toned down since last year, when she openly called for a referendum on the ECFA.
In related developments, Bill Cho (卓士昭), director-general of the Ministry of Economic Affairs’ Bureau of Foreign Trade, said Taiwan was exploring the feasibility of an economic cooperation agreement with India and the Philippines with a view to signing free-trade agreements (FTA) with the two trade partners.
Cho said Indonesia had also expressed interest in conducting a feasibility study for a trade deal with Taiwan, while the Taiwanese government was actively seeking to make it into the list of Asian countries that are negotiating FTAs with the EU.
In the lead-up to signing the ECFA, the government claimed that the trade pact would pave the way for Taiwan to enter bilateral FTAs with other countries. Singapore was the first country to hold talks with Taiwan on signing a trade deal, doing so in August last year.
After the feasibility study with Singapore, which concluded that an economic cooperation agreement would benefit both countries, Taiwan and Singapore have launched formal talks focusing on tariffs, the opening of the service sector and economic partnerships.
FUKUOKA SITUATION: Japanese media reported that the pathogen is expected to be identified by the summer, while the CDC downplayed the idea that it was hMPV A “mysterious cold-like illness” reported in Japan’s Fukuoka Prefecture does not seem to be a new disease, but Japanese authorities have been asked about the situation, the Centers for Disease Control (CDC) said yesterday. The Fukuoka Prefectural Medical Association on Wednesday told a news conference that a “mystery cold” that has become a hot topic on social media is “highly likely to be caused by some kind of viral infection,” Japan’s KBC News reported. “Many people are experiencing symptoms starting with a sore throat, followed by a runny nose, phlegm and a severe cough,” KBC News reported, citing association officials. Health authorities are
Nvidia Corp CEO Jensen Huang (黃仁勳) arrived in Taiwan yesterday ahead of upcoming AI and technology events, saying he plans to meet with clients and Taiwan Semiconductor Manufacturing Co Chairman C.C. Wei (魏哲家) during his visit. After landing at Taipei Songshan Airport, Huang posed for photos with fans and handed out Yakult drinks to reporters and supporters waiting at the scene, saying he has “a lot to do” during the trip. Asked about reports that Nvidia’s planned headquarters site in Taipei’s Beitou Shilin Technology Park could break ground on May 27, Huang said that if the company holds an event, he would
The Ministry of Finance this afternoon announced the winning numbers for the March-April uniform invoice lottery. The winning number for the NT$10 million (US$318,060) special prize is 19531471, and the winning number for the NT$2 million grand prize is 85941329. Three numbers were drawn for the NT$200,000 first prize: 07225810, 20231230 and 83518781. Those with receipts matching the last seven digits of any of the first-prize numbers will win the NT$40,000 second prize, while those matching the last six digits will win the NT$10,000 third prize. Those whose receipts match the last five digits of the first-prize numbers can claim the NT$4,000 fourth prize,
Taiwan Travelogue (臺灣漫遊錄), which earlier this week became the first Taiwanese novel to win the International Booker Prize, is to be adapted into a television series through a Taiwan-Japan coproduction, producer Chang Chen-yu (張辰漁) said yesterday. Chang, a producer at World Softest Production Film Co, wrote on Facebook that the company had been searching for projects with international appeal that retain a strong Taiwanese identity after colleagues and Japanese partners strongly recommended the novel. After reading the book, Chang said he immediately decided to pursue the screen rights. “A great story has the power to transcend time and borders, and connect countless people,”
RSS