Given the conflict between the democratic camp and totalitarian countries spreading beyond traditional security issues to encompass technology, industry, economics, and trade, the Ministry of Foreign Affairs is prioritizing economic and trade diplomacy and has issued relevant directives to its overseas missions. This endeavor will involve the semiconductor and ICT industries, bolster the supply chains of the Five Trusted Industry Sectors, and promote exports of smart city and system integration solutions. It also seeks greater substantive cooperation with diplomatic allies and like-minded countries and expanded global and regional linkages. This will help foster a consensus on jointly advancing economic prosperity in the region. In addition, it will support Taiwanese enterprises in expanding abroad and marketing to the world, thus realizing President Lai Ching-te’s vision of an economy on which the sun never sets.
International Economic IntegrationData source：Department of International Cooperation and Economic AffairsGlobal Economic IntegrationIn order to participate in regional economic integration, maintain our competitive edge, and secure our position in the global manufacturing chain, the ROC actively participates in multilateral, plurilateral, and bilateral negotiations, as well as regional integration on economic and trade issues. Therefore, the Ministry of Foreign Affairs is committed to these important related tasks:
I. Multilateral trade negotiationsWe seek to expand external economic and trade relations through multilateral negotiations under the World Trade Organization (WTO) framework. At the 9th WTO Ministerial Conference in 2013, the Bali Package on trade facilitation, agriculture, and development was adopted. At the 10th WTO Ministerial Conference in 2015, the Nairobi Package was passed to realize progress on such issues as agriculture, cotton, and the development of least developed countries. At the 11th WTO Ministerial Conference in 2017, progress was made on such issues as small economies, fisheries subsidies, e-commerce, and the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS). Taiwan played an active role in consultations on the WTO’s first multilateral agreement—the Trade Facilitation Agreement, which went into effect on February 22, 2017. At the 12th WTO Ministerial Conference in 2022, the Geneva Package was passed to further work on such issues as emergency responses to food insecurity, WTO responses to the COVID-19 pandemic, fisheries subsidies, e-commerce, TRIPS, and reforming the WTO. At the 13th WTO Ministerial Conference in 2024, decisions and declarations were passed to further work on dispute settlement reform, e-commerce, TRIPS, technical barriers to trade (TBT), and development.
Related links:i. Permanent Mission of the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu to the WTO ii. International Trade Administration, Ministry of Economic Affairsiii. Office of Trade Negotiations, Executive Yuan
II. Plurilateral trade negotiationsTo accelerate trade liberalization, the ROC actively participates in negotiations on plurilateral trade agreements. We have become a party to the Government Procurement Agreement and the expansion of the Information Technology Agreement.
Related links:i. Permanent Mission of the Separate Customs Territory of Taiwan,Penghu, Kinmen and Matsu to the WTO ii. Office of Trade Negotiations, Executive Yuan
III. Bilateral economic cooperation agreementsThe ROC signed a bilateral economic cooperation agreement with Belize on September 30, 2020; with Eswatini on June 8, 2018; with Paraguay on July 12, 2017; and with New Zealand and Singapore on July 10 and November 7, 2013, respectively. We are also exploring other trade pacts with other major trading partners.
Related links:International Trade Administration, Ministry of Economic Affairs
IV. Participation in regional economic integrationThe government aims to reinforce Taiwan's global and regional links, and actively participate in multilateral and bilateral economic cooperation, as well as free trade negotiations, such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) etc.. The Ministry of Foreign Affairs has instructed its overseas missions to garner support from the members of the CPTPP etc. to help pave the way for our accession to these regional trade agreements.
In addition to closely following the latest developments in regional economic integration, the Ministry of Foreign Affairs will continue working with relevant agencies to review and update domestic regulations to further liberalize our trade regime. By doing so, we can lay the foundation for our signing of bilateral economic agreements with other trade partners and participation in regional economic integration in the future.