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Taiwan-Philippine ties will flourish: Taiwan representative

2018/01/20 19:42:33

CNA file photo

Manila, Jan. 20 (CNA) An increase in investment and people-to-people interaction between Taiwan and the Philippines is expected to continue this year, Taiwan's representative to the Philippines Gary Song-huann Lin (林松煥) said Saturday.

Taiwanese investment in the Southeast Asian country reached an estimated US$19.71 million last year, Lin said, noting that he expects the figure to increase thanks to a new bilateral investment agreement (BIA) signed between the two countries last December.

The BIA establishes the terms for investment between participating countries, including factors such as most-favored-nation treatment, fair trade treatment and dispute resolution.

According to the Taipei Economic and Cultural Office in the Philippines, a Taiwanese electronics firm already operating there has recently unveiled plans to expand its manufacturing facility with an additional investment of US$11.83 million, including the planned recruitment of 10,000 new workers.

Lin also expressed optimism that two-way tourism travel between the two countries will continue to flourish this year.

Between January and August last year, the number of Taiwanese visiting the Philippines reached more than 180,000, he said, while the number of visitors to Taiwan from the Philippines reached nearly 250,000 between January and November last year, a rise from 130,000 in 2016.

(By Emerson Lim and Ko Lin)