Japan industries ’very interested in ECFA’: Yiin

Radio Taiwan Internqational | 08/01/2010

Japan industries ’very interested in ECFA’: Yiin

Japanese industries are very interested in the recently signed Economic Cooperation Framework Agreement (ECFA) between Taiwan and China. That was the word from Economic Minister-without-Portfolio Yiin Chii-ming on Saturday.

Yiin is currently leading a delegation to visit 11 large Japanese conglomerates in Osaka, Nagoya and Tokyo including Mitsubishi, Lotte, Fujitsu, NEC, TDK and Sony. The group is there to sign five memorandums of understanding (MOUs) on technological cooperation and a letter of intent (LOI) on a joint-venture to develop WiMAX technologies.

Yiin said that the ECFA has led some Japanese industries to rethink their mode of cooperation with Taiwan. He said that’s because the ECFA will give those industries more opportunities to enter China’s market as well as emerging Asian markets. Yiin also said the ECFA would allow Taipei’s Songshan Airport to eventually open direct flights with Tokyo’s Haneda Airport.

Meanwhile, Yiin said that Taiwan currently held the last place on Japan’s list of countries with which to sign free trade agreements (FTAs). He said that’s because tariffs between the two sides are already very low. But he also said he believes that in the current global economic environment, signing an FTA would create a win-win situation for Taiwan and Japan.

source: RTI