The symposium on the challenges of the TPP for the automotive industry, organized by the Chinese National Federation of Industries, was held on November 19th. Representatives from the Bureau of Foreign Trade and the Industrial Development Bureau gave an overview of the TPP and gathered opinions from the attendees.
The TPP is a massive free trade agreement, and most of the tariff elimination in industrial goods will be implemented immediately. In order to gear up preparation for the TPP, the government has been aggressively promoting its “Industry upgrade and innovation platform program” to enhance industrial R&D levels, produce add-value products, and encourage the industry to focus on innovative technologies and applications. Enterprises can make good use of the government’s resources to transform and face the competition from the global market.
Joining the TPP will strengthen Taiwan’s position in the global supply chain, avoid the risk of broken supply chains and industry offshoring, lower the tariffs toward our exporting destinations, and provide our companies with a competitive business environment in which to compete with global market at the same scratch line. In order to reduce the impact of free trade agreements, the Ministry of Economic Affairs will continue to communicate the need for industry reform to the public.