Taiwan Trying to Secure FTAs with U.S., EU

May 24, 2013

The President of Taiwan, Ma Ying-jeou, recently said that his administration has been working toward signing free trade deals with the United States and the European Union, a development that sock manufacturers in Changhua County are eager to see.

In a meeting with sock makers in thecounty's Shetou Township on May 11, Ma said his government has lobbied the European Parliament to pass resolutions that would push the EU to sign an economic cooperation agreement with Taiwan.

Meanwhile, Taiwan plans to pursue follow-up agreements to the bilateral Trade and Investment Framework Agreement with the U.S. and gradually work toward a free trade agreement, Ma said, in response to calls for such deals by the sock makers at the meeting.

Taiwan's special international circumstances make it difficult to secure FTAs with the U.S. and the EU, the president said, adding that such deals come with certain responsibilities.

"We have to be prepared to open up (our trade), as we demand the same of countries who sign free trade deals with us," Ma said.

He urged manufacturers to improve thequality of their products in preparation for competition from other countries, including China, who signed an Economic Cooperation Framework Agreement with Taiwan in 2010.

Original article posted on TaiwanTrade.com.tw