Taiwan wants to revive FTA talks

Photo caption: PHD Chamber of Commerce and Industry president, Dr. Mahesh Gupta (centre) and Taiwan Chamber of Commerce president, Mr. G F Hao (left) signing the agreement as Taiwan Economic and Cultural Centre (TECC) Representative, Mr Chung- Kwang Tien looks on.

Taipei Economic and Cultural Centre (TECC) in India Representative, Mr. Chung- Kwang Tien, on Thursday said that his country would want to revive the possibilities of working out free trade agreement with India for which a feasibility study was conducted three years ago.

After witnessing the signing of a protocol and cooperation agreement between PHD Chamber of Commerce and Industry and Taiwan Chamber of Commerce here, Mr. Tien disclosed that the Indian cabinet had on Wednesday approved the cooperation agreement with Taiwan in the field of agriculture and horticulture including widening of civil aviation activities between the two countries .

In view of both countries wanting to broad-base their economic and trade engagements, the idea for reworking free trade agreement between India and Taiwan would further cement ties for manufacturing and services sector and create an ideal situation for moving towards the free trade regime. Pointing out that Taiwan is a late entrant into India’s economic landscape, which is huge and wide, Mr. Tien said, the two countries should intensify their trade and economic cooperation in electronics and Information Technology among other things..

He also said that this is the first-ever agreement Taiwan has signed with any chamber in India. He also hoped that the 111-year-old Big Brother PHDCC would lead the three-year-old young brother TCC to help benefit the huge economic potential of this big economy. Comparing India to an elephant and Taiwan to a rabbit, the Ambassador said, there is tremendous opportunities to work together. He regretted that Taiwan's trade with India is minucule compared to China, which he hoped will multiply during the present regime of Prime Minister Narendra Modi.

He said that Taiwan is among the top five investors in South Asia. He also mentioned that about 300 Indian students are studying in Taiwan on scholarship which is known for Innovation and I&D.

The agreement signed by the President, PHD Chamber of Commerce and Industry, Dr. Mahesh Gupta and President, Taiwan Chamber of Commerce, Mr. G F Hao also aims at promoting trade and investment relations between the two countries as also constantly endeavour to improve co-operation with the two organisations.


The other objectives of the agreement comprise to assist in the organisation of trade and market research missions, conferences, symposia and other methods of trade promotional activity in each other's country.

"This Agreement becomes effective on the day of signing, and shall remain operative until either of the two Organisations requests its termination in writing to the other Organisation at least three months in advance. Both Organisations will have the right to propose amendments if and when they consider such amendments necessary to improve the co-operation between them," it said.

Others witnessed the ceremony included Dr
Dr. Guann-Jyh Lee, Executive Director, Economic Division, TECC, Mr. Anil Khaitan, Vice President, PHD Chamber; Mr. Sanjeev Ahuja, Co-Chairman, Asia & Pacific Committee, PHD Chamber; Mr. Surinder Kalra, Co-Chairman, Foreign Trade & Investment Committee, PHD Chamber, its Secretary General, Mr. Saurabh Sanyal and Secretary, Ms. Shabnam Pareek.

By:Jose Kalathil

[email protected]