Taipei, March 8 (CNA) Taiwan is committed to opening its economy further to China despite the enormous challenges ahead in cross-Taiwan Strait relations, Vice President Vincent Siew said Tuesday.
Taiwan should have confidence in the free trade system, Siew said at a symposium that marked the 20th anniversary of the Straits Exchange Foundation, a quasi official organization authorized to deal with negotiations across the strait.
With this in mind, Siew said, Taiwan will further open its market and economy to China in the wake of the signing of the historical Economic Cooperation Framework Agreement (ECFA) between the two sides last June and the implementation of tariff concessions under the ECFA.
Siew's comments reflected a statement by President Ma Ying-jeou in the Wall Street Journal Tuesday that Taiwan's current opening to China was only "25 percent to one third" of what it should be.
Relations between Taiwan and China have changed dramatically over the last two decades after more than 30 years of isolation in the wake of the Chinese Civil War in the late 1940's, Siew noted. China has now become Taiwan's largest trade partner, main foreign investment destination and premier tourist destination, he said.
However, there are many challenges ahead because cross-strait relations are constantly changing, Siew said.
Taiwan will not "place all its eggs in one basket" and has been seeking to be part of the regional economic integration, making efforts in areas such as exploring an economic partnership agreement with Singapore, he said.
In its engagement with China, he said, Taiwan will not focus on short-term economic gains to the detriment of long-term social stability.
On March 2, Taiwan announced a new list covering 25 areas in the manufacturing sector, eight in the service sector and nine in the public construction sector that would be opened to Chinese investment.
It brought to 247 the total number of industry areas that have been opened to Chinese investment since the first round of liberalization was announced on June 30, 2009. (By Chris Wang) enditem /pc