Chairmans Message
2010-07-30
Dear Chamber Members,
Welcome back and I hope that you all had a great summer vacation.
While we have been away the landmark economic cooperation framework agreement (ECFA) has now been signed with China and is waiting to be passed by the Taiwan Legislative Yuan. Once the ECFA takes comes into effect, hundreds of Taiwanese products will be allowed to enter China tariff-free, and some Taiwanese service sectors will benefit from easier market access to China. Not everyone will have to wait for the ECFA to pass though the Legislative Yuan in order to start reaping the rewards. The Financial Supervisory Commission has said that it will soon accept applications form mainland Chinese insurers looking to purchase shares in local companies or set-up representative offices in Taiwan.
In other news the latest indicators from the Directorate General of Budgeting, Accounting and Statistics forecast GDP for 2010 to be 6.14 percent. Unemployment in Taiwan at the end of June stood at 5.16 this was a slight increase on May. It is believed that this increase is due to new graduates now entering the marketplace. The unemployment rates of Singapore, Hong Kong, South Korea and UK in June were 2.2 percent, 4.6 percent, 3.9 percent and 7.8%, respectively.
Turning now to Chamber business we have a busy month ahead. On August 12th the Secretariat will move into new offices on Song Goa Road and in celebration the Chamber will hold the Chairman’s Curry Luncheon at Carnegies on August 13th. Shaken Not Stirred will take place on August 20th and then on August 25th our Business Luncheon guest speaker Tony Chao, Managing Director, Jones Lang LaSalle will provide his professional opinion on the impact of ECFA on Taiwan real estate market, including office, hotel, retail and residential property market.
Regards,
Peter Crowhurst
British Chamber of Commerce in Taipei Chairman
