Taiwan holds investment promotion event in Israel

Taipei, Aug. 25 (CNA) A recently signed trade pact between Taiwan and China will be advantageous to Israeli enterprises that want to invest in Taiwan or use Taiwan as a springboard or partner to enter Asian markets, Taiwan's representative to Israel said Tuesday in Tel Aviv.

In a briefing on the direction of Taiwan's efforts to solicit investment following the signing of the cross-Taiwan Strait economic cooperation framework agreement (ECFA) in June, representative Chang Liang-jen touted Taiwan's geographic and economic position.

Located at the intersection of Northeast Asia and Southeast Asia, Taiwan occupies a strong strategic economic position in the region and can use China as a "hinterland," he said.

Taiwan and China have signed 14 agreements and the ECFA since President Ma Ying-jeou took office in 2008, Chang noted, and said that Israeli enterprises are welcome to invest in Taiwan or use Taiwan as a springboard or economic partner to venture into the vast Chinese market and other markets in Asia.

He said that Israeli businesses could enjoy tariff-free treatment for certain goods sold to China under the ECFA and could also take advantage of Taiwanese businesses' knowledge of business opportunities and China's commercial environment to expand their market there and secure dual legal protections.

Jerry M. J. Shyy, the economic division head of the Taipei Economic and Cultural Representative Office in Tel-Aviv, briefed those attending the event on Taiwan's economic development and competitive advantages, the current state of foreign investment in Taiwan and incentives for foreign businesses to invest in Taiwan.

Shyy also introduced Taiwan's 12 major infrastructure projects, six emerging industries for prioritized development, and an investment-solicitation forum Taiwan's government plans to hold on Sept. 23.

Wang Chun-chieh, a former adviser to the Taiwan branch of IBM, also delivered a speech on business opportunities in Taiwan's high-tech industry.

Saying that digital content will be a star industry in the coming decade, Wang suggested that Israeli enterprises in the sector capitalize on their R&D and innovation advantages to collaborate with Taiwanese companies.

According to Chang, Taiwan is aggressively promoting cultural as well as economic and trade cooperation with Israel, and this year two-way trade between the two countries is expected to reach US$1.2 billion and could increase further.