AI medical products a potential export mainstay: Deputy minister

Taipei, June 6 (CNA) Artificial intelligence (AI) medical products could become one of Taiwan's main exports to Southeast Asia in the future, Deputy Economics Minister Chen Chern-chyi (陳正祺) said Thursday.

Countries from the Association of Southeast Asian Nations (ASEAN) are the best gateway for Taiwanese companies to expand overseas, as companies have already made investments in various industries in the region, Chen told a forum in Taipei.

While China still produces a third of the world's manufactured goods, it has recently lost its shine due to a trade war with the United States, resulting in major changes to supply chains, Chen said.

The Taiwanese government has been helping Taiwanese businesses diversify their investment and market by pushing the New Southbound Policy, Chen said.

The New Southbound Policy aims to enhance trade and exchanges between Taiwan and 18 countries in Southeast and South Asia, as well as Australia and New Zealand, to reduce Taiwan's dependence on China. It was introduced after former President Tsai Ing-wen (蔡英文) took office in 2016.

The world's investment in ASEAN has grown 11.5 percent between 2016 and 2022 according to the United Nations' statistics, and the region's share of global trade also increased in the same period from 6.9 percent to 7.7 percent, which Chen said shows the region's growing importance to the global economy.

As part of the new administration's plans to help businesses expand overseas, the government is expected to provide support to Taiwanese businesses investing in Southeast Asia, Chen said.

Taiwanese enterprises have a wide range of investments in the region, from the earlier investments in traditional industries such as textiles, as well as information and communications technology, semiconductors, electric motorcycles, smart cities, biomedicine and health care, Chen said.

Chen added that the vision for the future is to integrate Taiwan's medical expertise with AI technologies and work with ASEAN countries in its digital health care, while exploring the region as a potential market for Taiwan's medical and health products and services.