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Taiwan, Panama cooperate to develop e-commerce

2010/07/07 17:11:00

Taipei, July 7 (CNA) Taiwan signed a memorandum of understanding(MOU) with Panama Wednesday on the establishment of a public keyinfrastructure (PKI) that will help enable the two countries topromote electronic trading exchanges.

Vice Minister of Economic Affairs Francis Kuo-Hsin Liang andPanamanian Deputy Minister of Industry and Commerce Ricardo Quijanosigned the MOU at a ceremony at the ministry in Taipei.

The deal aims to expand cooperation in economic technology,Ministry of Economic Affairs (MOEA) officials said, noting that jointefforts in the field were part of the Taiwan-Panama free tradeagreement that was inked in 2003.

The officials said the PKI is a certification mechanism foronline trading that will ensure the safety of user identities anddetails of deals made through e-commerce services.

A PKI allows users of an otherwise unsecured public network tosafely and privately exchange data and money by using coded "keys"provided by a trusted third party.

The MOEA said that with the agreement, Taiwan and Panama willbegin jointly promoting the transfer of technical information,educational training, data and information, as well as increasingpersonnel interaction to pave the way for the launch of e-tradingbetween the countries.

Since Taiwan began its PKI establishment project in 2003, it hasissued nearly 970,000 MOEA Certification Authority (MOEACA) IC cardsfor business entities (including companies, franchises andproprietors) in Taiwan and 2.07 million Ministry of InteriorCertification Authority (MOICA) IC cards for individual citizens. TheMOEA said more than 50 million deals have been made online bycertificate holders.

Currently, 1.4 million users of Internet banking services conductonline deals through the PKI mechanism in Taiwan, according to theMOEA.

(By Lin Shu-yuan and Elizabeth Hsu)