Taiwan has called for increased cooperation with the Philippines during the 105th National Reception Day of the Republic of China (Taiwan) Monday.
“I would like to point out that right now is the best and opportune timing to work together to enhance our bilateral relations. By broadening multifaceted cooperation, we will eventually create a mutually beneficial win-win situation” said Taiwan representative Gary Song-Huann Lin in his speech during the celebration held at the Sofitel Philippine Plaza Hotel in Manila City.
He added that Taiwan’s ‘New Southbound Policy’ of President Tsai Ing-wen and the Philippines’ more inclusive policies under President Rodrigo Duterte complemented each other.
Taiwan and the Philippines have mutually beneficial close relations. The bilateral cooperative ties are wide–ranging from trade, investment, industry, technology and science to agricultural, fishery, labor tourism, aviation, shipping, energy, and even weather forecasting.
Taiwan in 2015 was the Philippines’ fifth largest trading partner, ninth export market and fourth import source.
Total Taiwanese investments in the Philippines in 2015 jumped to P5.46 billion, up 83 percent from a year ago, making Taiwan the Philippines’ third fastest growing investment source.
The Philippines, meanwhile, is Taiwan’s second-largest export partner among Asean countries at $7.45 billion, and the 11th largest trading partner of Taiwan, with bilateral trade amounting to $9.27 billion in 2015.
Millions of Filipino people either transit or pass through Taiwan each year. The partnership is also reflected in the presence of the 135,000 Filipinos who are currently working in Taiwan, mainly in the ICT sector and the optical industry.