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TAEF BRIEF
September 1st, 2023
No. 118 |
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CONTENT
-TAEF Updates
-TAEF Media Gallery
-TAEF Commentaries
-New Southbound Policy News
-Regional Headlines |
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Taiwan-Asia Exchange Foundation's Fifth Anniversary:
Reflecting on Seven Years of Success of the New Southbound Policy and Anticipating the Future of Asian Development
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September 1, 2023
August 9, 2023
The Taiwan-Asia Exchange Foundation (TAEF) held its fifth-anniversary commemorative event and "Seven Years of Success of the New Southbound Policy" forum on August 9, 112 (Wednesday) at the Grand Mayfull Hotel, to mark the fifth anniversary of the establishment of TAEF and showcase the achievements of the New Southbound Policy.
Since its establishment, TAEF has focused on fostering warm and substantive exchanges between Taiwan and New Southbound countries. This fifth-anniversary commemorative event and forum on the "Seven Years of Success of the New Southbound Policy" invited important representatives from industry, government, and academia related to the New Southbound Policy. They discussed the policy's achievements from various perspectives. Subsequently, a comprehensive discussion was held with members of the Asia Engagement Consortium to explore the future prospects of the New Southbound Policy. This discussion set the stage for this year's Yushan Forum, themed "Start a New Blueprint for Asian Development."
The forum concluded with discussions among allies of the Asia Engagement Consortium, highlighting the positive changes brought by the New Southbound Policy and prospects for its future, contributing to the anticipation of Asian development.
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2022 Yushan Forum | Community Moving Forces: We Can All be the Power of Change |
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Kevin, the founder of One-Forty, had a chance to visit the Philippines when he was a university student. Following the stay, he started to pay attention to migrant workers issues, and eventually established "One-Forty School" to help migrant workers cultivate skills and talent.
Wee Dee, a migrant worker from Indonesia, has been living in Taiwan for 12 years. She works as a caretaker for almost seven days a week. But she would turn into a writer at night or during her precious holidays. She has been writing for years and has published a lot of thrillers in the past. Nowadays, she has moved toward the romance genre, because she hopes to tell more women that they don’t have to choose between their dreams and their families.
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Taipei Times
Pew wrong about Indians’ views
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August 16, 2023
An informed poll on public perceptions should be conducted by local organizations that are well-versed in the intricacies of both nations. It is about time we cease depending on foreign institutions to dictate our sentiments toward each other.
- Dr. Sana Hashmi, Postdoctoral Fellow, Taiwan-Asia Exchange Foundation
The Pew Research Center recently conducted a survey on global perspectives towards Taiwan, and the results regarding India are raising questions. The survey indicated that 43 percent of Indian respondents had an unfavorable view of Taiwan, while only 37 percent had a favorable view. This data contradicts the generally positive sentiment observed between India and Taiwan in recent years, especially on social media.
Two possible explanations are presented. Firstly, the survey sample was drawn from prominent Indian cities, omitting areas in the northern and northeastern regions that might have different perspectives due to their proximity to China. Secondly, the negative view might be due to a lack of awareness and confusion among respondents, who might have mistaken questions about Taiwan for questions about China, given the recent tensions between India and China.
The article calls for skepticism regarding these survey results and suggests that local organizations conduct more informed polls on public perceptions between India and Taiwan, considering the intricacies of both nations.
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NEW SOUTHBOUND POLICY NEWS |
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Reuters
Australia says it will conduct more joint patrols with Philippines in South China Sea
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August 25, 2023
Australia has a security interest in the South China Sea and will work more closely with the Philippines on joint patrols, Australian Defence Minister Richard Marles said on Friday as he observed military exercises with President Ferdinand Marcos Jr.
More than 2,000 Australian and Philippine defence personnel are participating in amphibious landing and air assault drills. The joint exercises, a first for the two nations, come amid renewed tensions between the Philippines and China in the South China Sea.
Most of Australia's trade goes through the South China Sea, and upholding international rules is a shared strategic interest with the Philippines. The Philippines also wants a closer working relationship with the militaries of regional neighbours. "It is an important aspect of how we prepare for any eventualities, considering there have been so many events that attest to the volatility of the region."
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Taipei Times
Taiwan's Gogoro to form venture with Philippines’ Ayala
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August 26, 2023
Taiwan’s Gogoro Inc. will form a joint venture with conglomerate Ayala Corporation to distribute and maintain electric scooters in the Philippines, reports said.
Apart from importing Gogoro electric scooters into the Philippines, the venture will also open battery swapping stations. Gogoro will invest a share of 30% in the US$8.5 million (NT$270.53 million) venture, with 21% coming from Ayala, and 49% from 917 Ventures. The venture capital company is a subsidiary of the Ayala Group’s Globe Telecom.
The Southeast Asian country only counts 10,000 registered EVs, mostly scooters and three-wheel vehicles, leaving Ayala with an opportunity to expand its business. The Ayala Group includes the largest property developer in the Philippines, but is also involved in banking, telecom, and shopping malls.
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Radio Taiwan International
Taiwan hopes to develop renewable energy in Vietnam
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August 29, 2023
The National Development Council (NDC) Minister Kung Ming-hsin attended the Taiwan-Vietnam Forum with Vietnamese officials and business owners to discuss the construction of a non-tariff industrial park at the Lạch Huyện International Port on Tuesday.
Kung said that the transfer of Taiwan’s manufacturing industries to Vietnam initiated the economic and trade development between the two countries. Taiwan’s investment in Vietnam has entered a new era to develop global logistics, port management, and renewable energy. He also expressed the interest of Taiwan forging cooperations with Vietnam to further contribute to carbon reduction in the world.
On the other hand, the Vietnamese government is building a free-trade zone and a seaport encompassing 22 wharfs that are 15 to 18 meters deep near Hải Phòng, the third largest city in the country. The construction project functions to accommodate maritime transport, logistics, goods processing, exports, and technological manufacturing.
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Focus Taiwan
Taiwanese investments shift to ASEAN
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August 10, 2023
Taiwan’s investment in ASEAN markets in the first half of this year surpassed the volume bound for China, as local firms continued to shift manufacturing bases away from the world’s second-largest economy at clients’ urging to avoid US-China trade frictions, the Ministry of Economic Affairs said.
Approved investments in Southeast Asia reached US$2 billion in the first six months of this year, accounting for 18.1% and overtaking China as the No. 1 destination at 17.6%. It attributed the changes to a global supply chain realignment and rising Chinese labor costs.
At the same time, investment bound for ASEAN markets grew 40.9%. The government has encouraged investment in ASEAN markets under President Tsai Ing-wen’s New Southbound Policy to help local companies diversify investment risks. Major local banks have set up branches in Vietnam, Thailand, Cambodia and elsewhere in Southeast Asia to better serve their Taiwanese clients and take advantage of fast-growing economies in the region.
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Nikkei Asia
Thailand political transition begins as Srettha meets Prayuth
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August 24, 2023
Thailand's new prime minister, Srettha Thavisin, met outgoing predecessor Prayuth Chan-ocha, marking a political transition for the Southeast Asian nation that has been under a military-backed regime for nearly a decade.
Srettha paid a courtesy call to Prayuth at Government House, which he will occupy as soon as a cabinet is formed and endorsed by King Maha Vajiralongkorn. Srettha was officially appointed prime minister earlier, accompanied by his family and Pheu Thai Party executives.
The meeting was a rare prime ministerial handover in Thailand's political history, which has frequently been disrupted by military coups. "He asked me to be calm and patient, and to take care of the nation, religion and the monarchy," Srettha told reporters about his meeting with Prayuth. "He said that I came from the economic sector, so the way of managing things may be different from the way the country is managed."
Cabinet positions will not be finalized this week as negotiations continue between Pheu Thai and its 10 coalition partners. Pheu Thai is expected to appoint eight cabinet ministers and nine vice ministers, including those for foreign affairs, finance and health. Pheu Thai's alliance with the two military-linked parties has disappointed reform-minded voters, who hoped Pheu Thai would stay in its previous pro-democracy coalition with the Move Forward Party.
Read more
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Reuters
India cuts prices of cooking gas as inflation bites
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August 29
, 2023
India cut the price of cooking gas for households by about 18% to rein in inflation ahead of crucial state and general elections.
The government reduced the price by 200 rupees ($2.42) on a 14.2-kilogram (33 pounds) cooking gas cylinder sold to 330 million households. The decision will impact about 100 million low-income families who form a key voter base and have felt the pinch of the rise in food prices over the last few months, as India's annual retail inflation hit a 15-month high in July.
Prime Minister Narendra Modi's government has been criticised by the opposition over high inflation and the price of liquefied petroleum gas (LPG) ahead of elections in five states in the coming months and national elections in mid-2024. "This is a gift to millions of my sisters of the country," Modi said in a statement, adding that his government "will always do everything possible that improves people's quality of life and benefits the poor and middle class."
The government will have to spend an additional 40 billion rupees for the enhanced cooking gas subsidy, in addition to about 76 billion rupees it has budgeted for the current fiscal year.
Read more
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Nikkei Asia
Vietnam, Philippines and Brunei to join cross-border QR payment scheme
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August 26, 2023
Vietnam, the Philippines and Brunei will join other major Southeast Asian economies in an interconnected QR code payment system that aims to promote use of local currencies and reduce dependence on the U.S. dollar.
Indonesia, Thailand, Malaysia and Singapore are already progressing with the implementation of bilateral transactions using QR codes among one another, which was initiated last year.
The regional payment connectivity initiative was agreed on at the ASEAN leaders summit in Labuan Bajo, Indonesia, this May. Under the payment scheme, the central banks of Malaysia and Indonesia launched a cross-border link in May. Malaysians traveling to Indonesia can now pay for goods and services by simply scanning QR codes with their mobile phones, as can Indonesians traveling in Malaysia. Payments are settled using local currencies, bypassing the need for U.S. dollars as an intermediary.
Vietnam’s financial authority in charge of domestic payment systems in currently in talks with the local industry to agree on a national QR system. The Philippines is consolidating its QR payment industry, with officials there persuading industry players to agree on regional interconnectivity. Brunei, meanwhile, is setting up a national regulatory framework to give its financial authorities the power to regulate and oversee domestic payment systems.
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