PROGRESS SOUTH:
From January last year to November, total trade between Taiwan and New Southbound Policy countries increased by 38 percent

• By Lee Hsin-fang / Staff Reporter

Taiwan is to work with Medical Excellence Japan to explore market opportunities in Southeast Asia, as part of its efforts to strengthen ties with New Southbound Policy countries, the Office of Trade Negotiations said yesterday. of the Cabinet.

In October last year, the government set up Medical Excellence Taiwan, which will work with its Japanese counterpart this year to explore the medical care market in Southeast Asia, the office said.

The government’s new southbound policy covers all 10 ASEAN members, plus Australia, Bangladesh, Bhutan, India, Nepal, Pakistan, Sri Lanka and New Zealand.

Since the outbreak of the COVID-19 pandemic, Taiwan has faced many obstacles in promoting international trade, such as training events related to natural disaster relief and agriculture, the office said. , adding that the government is still holding online exchanges and assisting countries in the fight against COVID-19. 19 with medical equipment.

Over the past year, the government has retained more than 2,700 professionals from New Southbound Policy countries, including the first graduates of two industry-university cooperation programs for foreign and Taiwanese overseas students. -mer, which show that Taiwan is a place for learning Mandarin as well as gaining professional knowledge and skills, the bureau said.

More than 110,000 visitors from countries sought medical help in Taiwan in the first 10 months of last year, accounting for nearly half of the country’s total international medical services, he said.

NRICM101, a Chinese herbal formula developed by Taiwanese researchers to treat symptoms of COVID-19, has been sold in the Philippines, Singapore, Thailand and other countries, he added.

Taiwan has also donated oxygen concentrators, medical masks and personal protective equipment to India, Indonesia and Vietnam, he added.

The Taiwanese government and insurers in Vietnam have persuaded Hanoi to launch an international medical insurance program, which eases the burden of Vietnamese seeking treatment in Taiwan, the office said.

Taiwan has also improved its trade relations with New Southbound Policy countries through industry forums and financial support, aimed at helping Taiwanese companies diversify investment risks by turning to markets. Southeast and South Asia, he added.

From January last year to November, the total trade volume between Taiwan and New Southbound Policy countries reached $135.6 billion, up 38 percent year-on-year, the bureau said. .

Export revenue to countries has also increased steadily since October 2020, he added.

Taiwanese investment in the country rose 116% year-on-year, while GlobalWafers invested in GWafers Singapore and Cathay Life Insurance raised capital at its branch in Vietnam, he said.

Taiwanese investment in India also increased by 41% year-on-year; If Taiwanese investment via third countries is counted, the country has become one of India’s top 20 sources of foreign investment, he said.

Under the government’s border control measures, visitors from countries with the new southbound policy are still unable to travel to Taiwan, but the government is working to improve the country’s tourism environment, said indicated the office.

Taiwan was ranked No. 2 in the Global Muslim Travel Index among non-Organization of Islamic Cooperation tourist destinations, behind Singapore, he said.

Hopefully, more young people from the new southbound policy countries will want to stay in Taiwan, while more Taiwanese products – ranging from food products, smart technology systems and medical care services – are made available in these countries, he said. indicated the office.