The key to the New Southbound policy is a focus on the needs of Taiwan’s partner countries. That was the word from Tsai Yun-chung, deputy representative of the Office of Trade Negotiations (NTO).
Tsai told Radio Taiwan International on Thursday that the first Southbound policy under then president Lee Teng-hui in 1993 was export-driven. Tsai said the older policy didn’t focus on the actual needs of Taiwan’s trade partners, and it focused mostly on investment. He said the New Southbound policy is much different in this regard.
“We need to first take a close look at the needs of our trade partners. We need to first make sure they need what we have to offer to interest them to trade with us. Therefore, first we need to know what they need, and second, we need to satisfy that need. Most importantly, we need to think about our own interests. Therefore, knowing the needs of our trade partners, satisfying those needs while benefiting our own economy, is the core of the New Southbound policy, ” said Tsai.
Tsai said the Tsai administration has set over 200 key performance indicators to evaluate the benefits of the policy. He said the government hopes the public will see these benefits in the future.