MANILA, Philippines - Taiwan is eyeing the Philippines as its next big trade and investment partner in the region following the former’s recent implementation of a “Go South Policy,” a Department of Trade and Industry official said.
Trade Undersecretary Nora Terrado said in an interview a 100-member delegation from Taiwan is gearing for a business mission to the Philippines to explore trade and investment opportunities..
Terrado said the investors come from varied sectors like construction, retail, information technology and semiconductor.
“There is this strong and growing interest among Taiwanese firms in the country because of their Southbound Policy,” she said.
Taiwan’s new Southbound Policy is being pushed under the new leadership of its President Tsai Ing-Wen.
“This means their global reach would start going south and through their closest neighbor. They consider us an entry point for the region for integration,” Terrado said.
She said the Philippines is considered by many Asian countries as a good entry point given the preferential tariff it currently enjoys with the US and Europe.
The country is a beneficiary of the EU Generalized Scheme of Preference plus.