Upsurge in demand for products from the Baltic state came on the back of warming diplomatic relations. However, considerable obstacles to agri-food imports remain. What does Lithuania mean to Taiwan? Prior to 2021, perhaps only the presence of several of the country’s basketball players in the NBA. However, following donation in July and October last…
In a recent online panel hosted by the Carnegie Endowment for International Peace and joined by AmCham Taiwan President Andrew Wylegala, former Assistant U.S. Trade Representative Barbara Weisel put Taiwan’s chances of concluding a bilateral trade agreement (BTA) with the U.S. at “zero,” at least in the near term. Weisel noted that the appetite in…
Nicaragua Severs Ties with Taiwan Nicaragua ended official diplomatic relations with Taiwan in December, stating that it “recognizes that there is only one single China.” It was the eighth country to sever ties with Taiwan since 2016, leaving the island with only 14 diplomatic partners. The break in relations comes as the U.S. and countries…
Five years after its implementation, the Tsai government’s flagship policy initiative aimed at boosting engagement with South and Southeast Asian countries has delivered some encouraging economic results. But observers say that to fulfill the policy’s goal of developing more comprehensive relations, a greater focus on people-to-people ties is needed. Taiwan’s Executive Yuan reported this September…
Ending The Year on A High Note Taiwan has managed to buck its severest coronavirus outbreak, coming out relatively unscathed in 2021. As proof, the island’s exports have continued to soar, reaching another record monthly high of US$40.14 billion in October. Meanwhile, the Directorate General of Budgeting, Accounting and Statistics (DGBAS) in late November raised…
A weekly snapshot of Taiwan business news stories brought to you by CommonWealth and AmCham Taiwan’s TOPICS Taiwan Applies to Join Regional Trade Pact On September 22, the Executive Yuan announced that Taiwan had formally applied to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Taiwan submitted its application documents to New Zealand,…
Taiwan’s Economic Recovery Uneven The Directorate-General of Budgeting, Accounting and Statistics (DGBAS) in early August revised its 2021 GDP growth forecast to 5.88%, up 0.42 percentage points from the one it made in June, as sustained global demand caused July exports to reach a record US$37.95 billion. Imports in July grew by 41% year-on-year to…
Exports Increase, NTD Trends Down Despite the impact of Taiwan’s recent COVID-19 outbreak, the latest GDP forecast from the Taiwan Institute of Economic Research (TIER) predicts an annual economic growth rate of 5.40% in 2021. This growth can mainly be attributed to Taiwan’s exports in goods, which have remained “strong and robust.” Exports in June…
A weekly snapshot of Taiwan business news stories brought to you by CommonWealth and AmCham Taiwan’s TOPICS Strong Demand for Technology Drives Increased GDP Growth Even as Taiwan has struggled to contain a local outbreak of COVID-19, the international community continues to have confidence in Taiwan’s economy. Taiwan Ratings, the Taiwan subsidiary of S&P Global…
China’s recent ban on pineapple imports from Taiwan provides an occasion for policymakers to rethink the island’s dependence on the Chinese market for agricultural exports. In late February, just as Taiwan’s pineapple season was set to begin, China’s General Administration of Customs announced that it would suspend the import of Taiwanese pineapples beginning March 1….
