Taipei City, June 28 (Hindustan Times). Amidst the ongoing dispute with China, Taiwan has spoken of strong relations with India. Taiwan’s Foreign Minister Josieh Joseph Wu has said that the free trade agreement will give a big incentive to Taiwanese companies to set up industries based on manufacturing in India.
Foreign Minister Joseph Wu said that Taiwan is now encouraging its companies which do not find the Chinese market profitable. Taiwan has told such companies that they should shift their business to India for production facilities. Wu said that India is a rapidly emerging power and is moving towards rapid economic development. The Free Trade Agreement between India and Taiwan will remove barriers to comprehensive trade and investment ties. This will help Taiwanese companies to set up manufacturing centers without paying high tariffs for various equipment and raw materials.
Taiwan’s Foreign Minister said that the time has come to start free trade agreement talks between Taiwan and India. The two sides have already held preliminary discussions for the agreement. He said that our trade relations are gaining momentum. Taiwanese investors are eager to invest in India and Taiwan-India semiconductor cooperation is getting strong support from the top leadership of both the countries. He said that India is an emerging power, it is growing rapidly. The hard work of the people there cannot be ignored. India has its economic strength for future and India is going to be very powerful.
