WTO Review of Taiwan Says Economy Would Improve with More Flexibility, Competitiveness
The World Trade Organization has issued its Trade Policy Review for Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu (Chinese Taipei). According to the review, an outward-oriented development strategy has brought rapid growth and prosperity, transforming it into a…
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modern industrial economy and a leading exporter of information technology (IT) products. However, to strengthen its competitiveness and attract inbound direct investment, Chinese Taipei needs to undertake further structural reforms in order to improve the economy's flexibility in responding to domestic and international challenges, including the improvement of cross-strait economic relations, removal of remaining informal barriers to investment, and adoption of international best practices.