TAEF 2024 SEASAT Youth Camp Kicks-off in Taipei

November 15, 2023 

 

In a strong argument for the important focus of Session III, Moderator Deputy Minister Roy Chun Lee of the Ministry of Foreign Affairs stated, "Soft power…makes our life better, and, in many cases, makes our economy stronger…All of us, no matter our size, our economy, our military… can be leaders in soft power." As the New Southbound Policy (NSP) is a soft power agenda in many ways, much of Session III focused on how the NSP has helped facilitate resource sharing, strengthened connectivity, and ways in which to translate the benefits of soft power into competitiveness. 

 

Moderator:
- Roy Chun Lee
Deputy Minister, Ministry of Foreign Affairs, R.O.C. (Taiwan)

 

Speakers:
- Deputy Minister Chou Chiang-Chieh of the Hakka Affairs Council highlighted the soft power of Hakka culture,
- Director-General Jack Yeh-Chin Kuei of the Ministry of Culture's Department of Cultural Exchange highlighted the success of cultural exchanges under the New Southbound Policy,

- Wayne Wen-Chung Hsieh, Chief Secretary of the National Immigration Agency (NIA), discussed NIA's initiatives to empower new immigrants and their children in Taiwan, 

- Fortunato T. de la Peña, former Secretary of the Department of Science and Technology (DOST) in the Philippines, 
- Director General Manharsinh Laxmanbhai Yadav of the India Taipei Association

 

Why’s China Going All Out to Woo Australia? It’s a Deliberate Bid to Weaken Quad Cooperation

June 19, 2024

 

By: Sana Hashmi

 

Australia, a key US ally and a member of the Quad and AUKUS, plays a significant strategic role for China. The Quad, including the US, Japan, Australia, and India, was initially formed in 2007 to address regional security concerns but was dormant for a decade due to Beijing's objections. It has now reemerged to counter China's regional assertiveness. China’s focus on Australia, amid engagements with other Quad countries, underscores its strategic moves. Chinese officials are visiting locations that promise mutual benefits, showing China's efforts to influence key US allies.

 

There are concerns about Australia’s commitment to regional security due to its economic engagements with China. Chinese state media portrays Australia positively, suggesting improved relations. However, within China, there's a call for Australia to adopt a more independent foreign policy, less influenced by the US. Trust between China and Australia remains fragile despite recent diplomatic gestures. Australia must balance economic gains from China with its security commitments to maintain regional stability.

 

Read more

 

July 19, 2024

 

Taiwan aims to strengthen ties with Asian neighbors through a new government-backed fund and technology investments, according to Foreign Minister Lin Chia-lung. Emphasizing "technology, capital and talent," Lin plans to enhance trade with Asian nations amid China's increasing military pressure and efforts to isolate Taiwan.

 

The "New Southbound Fund" will model successful state-backed funds from Central and Eastern Europe. Lin’s strategy builds on the 2016 New Southbound Policy initiated by President Tsai Ing-wen to boost ties with Oceania and South and Southeast Asia. Taiwan's economic diplomacy includes recent investment pacts with Thailand, the Philippines, India, Vietnam, and Canada. Lin, emphasizing Taiwan’s sovereignty and international role, aims to create a "democracy supply chain" and bolster Taiwan’s soft power and defense.

 

This approach continues the previous government's strategy, with Taiwanese investments in South and Southeast Asia surpassing those in China in 2022.

 

 

Taiwan Announces Thailand Investment Deal, Marking First Pact under Lai

June 28, 2024

 

Taiwan has signed an investment pact with Thailand to strengthen commercial and economic ties. This is the first such agreement since President Lai Ching-te took office in May, amid China's increased efforts to isolate Taiwan. Taiwanese businesses are shifting investments from China to Southeast Asia, with Thailand becoming a key destination. The agreement aims to enhance transparency, establish an investment committee, and cover indirect investments.

 

Since the New Southbound Policy's launch in 2016, Taiwan-Thailand trade and investment have significantly grown. The new pact reflects Taiwan's increased economic importance and reduced reliance on China. Taiwan's previous investment agreement with Thailand, signed in 1996, is outdated. The latest deal underscores the importance of Southeast Asia as a re-investment hub amid U.S.-China tensions. Taiwan’s government seeks more international trade agreements to strengthen security and stability in the Taiwan Strait. 

Taiwan News 

 

Taiwan Foreign Investment Hits NT$785 Billion in First Half of Year

July 16, 2024 

 

Taiwan's Ministry of Economic Affairs (MOEA) reported a record foreign investment of US$24.1 billion in the first half of this year, a 169% increase year-on-year. This surpasses the total foreign investment for the entire previous year. Significant growth was seen in New Southbound Policy countries, with projects and investment amounts rising by 63% and 113%, respectively.  The surge is attributed to major investments, including TSMC's capital increases for its subsidiaries in Japan (US$5.26 billion) and the U.S. (US$5 billion).

 

In the New Southbound Policy countries, 147 approved projects amounted to US$4.53 billion, driven by Foxconn's large-scale investments in Singapore, Vietnam, and Thailand. Conversely, investments in China decreased, with 176 approved projects down 1.12% year-on-year and the investment amount falling by 19.03% to $1.54 billion.

 

 New Straits Times

 

Taiwan Looking to Work with Malaysia on Semiconductors, Computer Chips

July 17, 2024

 

Taiwan is eager to collaborate with Malaysia on semiconductor and computer chip opportunities, recognizing Malaysia's advanced capabilities in packaging and testing. Taiwan's Foreign Affairs Deputy Minister Tien Chung-kwang highlighted Malaysia's strengths during a press briefing with countries involved in Taiwan's New Southbound Policy (NSP). The NSP, launched in 2016, aims to enhance cooperation and talent exchange between Taiwan and countries in Southeast Asia, South Asia, and Australasia.

 

Taiwan seeks to leverage its technological expertise and resources to reshape supply chains and industries, having significantly increased trade with NSP countries over the past eight years. Taiwan sees potential in Malaysia's skilled workforce and stable hydroelectric power supply. Malaysian MP Datuk Larry Sng noted that Malaysia could become a strategic hub for Taiwanese investment, with opportunities for collaboration in engineering education and establishing a Taiwanese university campus in Malaysia to meet the growing demand for engineers.