Finance Minister Chang Sheng-ford said Taiwan is making a strong bid to join the Regional Comprehensive Economic Partnership (RCEP).
Chang was in Thailand for the opening of the Bangkok office of Taiwan’s state-owned Import-Export Bank. He said that the government is making a strong bid to join the RCEP and gain a sizeable share in the Pan-Asian financial market. The RCEP is a proposed free trade agreement between 16 Asian countries.
Chang said the Import-Export Bank will have more functions and services starting this year. Taiwan’s government will also increase the bank’s capital by 20 billion NT$ to allow the export of syndicated loans.
Chang said that the government is looking to promote creative financial products and to diversify its export market in the future. He said that Taiwan sees Southeast Asian countries as important trade partners, and it aims to join the RCEP. He also said that the government hopes to provide Taiwanese businesses in Thailand with more convenient financial and insurance services.