Taiwan seeks to strengthen role in global supply chains

January 14, 2022

TAIPEI -- The government is committed to making Taiwan an integral part of global supply chains, cementing the country's position in the world economy, according to Vice President Lai Ching-te.

The COVID-19 pandemic has impacted the world economic landscape profoundly, Lai said, as illustrated by a restructuring of global supply chains and new consumer lifestyles and consumption patterns.
 Although these developments presented tremendous challenges for Taiwan, Lai said they also offered an array of opportunities for Taiwanese firms to boost resilience and embrace transformation. 
Lai told an economic that Taiwan had recorded economic growth of 3.11% in 2020, the highest among the Four Asian Tigers, on the back of its successful efforts to combat COVID-19. This figure was expected to exceed 6% with per capita gross domestic product increasing to over US$30,000 in 2021, he added.
 On the global front, Lai said, no effort was being spared to strengthen Taiwan's trade and investment links with key trading partners. He cited Taiwan-U.S. Trade and Investment Framework Agreement Council meeting, and the country's bid to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership as notable examples.
 The government would continue to fast-track development of the digital economy in Taiwan, centering on forward-looking technologies such as artificial intelligence, 5G and the Internet of Things, Lai said. 
In terms of sustainable development, green energy remained at the heart of Taiwan's development plan, highlighting the country's commitment to achieving net zero emissions by 2050, he added.
 ttonline@mofa.gov.tw  (ATI).