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11 2013 Position Papers Presented by: Chris James Chairman EUROPEAN CHAMBER OF COMMERCE TAIPEI Taipei, 12 November 2012.

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Presentation on theme: "11 2013 Position Papers Presented by: Chris James Chairman EUROPEAN CHAMBER OF COMMERCE TAIPEI Taipei, 12 November 2012."— Presentation transcript:

1 11 2013 Position Papers Presented by: Chris James Chairman EUROPEAN CHAMBER OF COMMERCE TAIPEI Taipei, 12 November 2012

2 22 2013 Overview Recommendations for priority policies and measures 2011-2012 Position Papers recap 22 committees raised 112 issues 2013 Position Papers 21 committees raised 118 issues Concluding remarks 2013 Position Paper launch Agenda

3 33 Theme: Unleashing the Taiwan Tiger A Path to Economic Prosperity

4 44 Total Jan-Sep’ 2012 exports -3.9% year-on-year PMI 47.8 in October - further contraction ahead EU Taiwan trade: –Down from 15 th to 19 th trading partner in 2011 –Exports to Europe -8% in 1H12 –EU imports to Taiwan -11.6% in 1H12 The Business Climate

5 55 Competitiveness rankings moving in the right direction: –WEF Global Competiveness: 13 th –IMD: 7 th World Bank’s 2013 Doing Business: 16 th (up from 25 th ) –Getting electricity: 6 th –Dealing with construction permits: 9 th –Resolving insolvency: 15 th –Protecting investors: 32 nd –Registering property: 32 nd –Paying taxes: 54 th –Getting credit: 70 th –Enforcing contracts: 90 th The Business Climate

6 66 Action required in 2 main areas: 1.Competitiveness 2.Sustainability How to unleash the Taiwan Tiger

7 7 7 RMB market promotion RMB market promotion is an opportunity for Taiwan 6 recommendations by the Banking committee to boost Taiwan’s status as an RMB offshore financial centre Competitiveness

8 8 8 International standards Many European test standards are not accepted and additional testing is required. Key items still not open to foreign test laboratories. Competitiveness

9 9 9 PRC import ban Little progress made on items manufactured by European firms over the past year. The ban fosters protectionism and deprives businesses and consumers of superior quality products at reasonable prices. Competitiveness

10 10 EU-Taiwan TEM 2012 update study shows case for TEM even stronger than before TEM would boost annual EU exports to Taiwan and benefit manufacturers of motor vehicles, electronics & machinery, beverages, clothing and textiles. Gains from the removal of non-tariff barriers. Competitiveness

11 11 Address environmental concerns by: Passing Greenhouse gas legislation Improving energy efficiency Aggressive installation of renewables Making Life cycle cost the guiding principle for public infrastructure Sustainability

12 12 Last year, 22 committees raised 112 issues Over the past year: 3 issues have been completely resolved. Sufficient progress has been made in 4 issues and they have therefore not been raised again. 9 issues have been partially resolved but given the unresolved sub-issues under the same heading, the issues are listed again this year. 26 issues have been removed at the committees’ discretion. 77 issues from last year remain unresolved and are repeated. 41 new issues have been raised. Review of 2013 Position Papers

13 13 3 Issues were resolved Asset Management Rules relaxed to allow Securities Investment Trust Enterprises’ (SITEs) personnel to engaged in discretionary investment. Insurance A financial ombudsman has been set up Better Living The NCC has cracked down on pirate radio stations

14 14 Progress made on 13 issues 4 issues raised last year by the Asset Management, Better Living and Tax committees saw sufficient progress. Another 9 issues made progress towards resolution but are raised again this year by the Automotive, Banking, Better Living, Insurance, Luxury Goods, Retail & Distribution and Pharmaceutical committees.

15 15 2009-2010 Position Papers At the core of our advocacy mandate This year, 21 committees raised 118 issues –77 old issues which the ECCT wishes to see addressed. –41 new issues have been identified. 2013 Position Papers

16 16 2009-2010 Position Papers At the core of our advocacy mandate Many long-standing issues Agro-chemical The sale and use of illegal pesticides. Electrical Engineering & Equipment Avoidance of double testing. Pharmaceutical Low reimbursement prices for innovative drugs. Drug approval process is slow by international standards. Insurance Commitment to meet international capital standards and equal treatment for traditional and unit linked products. 77 Unresolved Issues

17 17 2009-2010 Position Papers At the core of our advocacy mandate International standards are an important component of competitiveness Automotive Taiwan’s CO2 emission and fuel economy standards for new vehicles are not harmonised with European standards. Taiwan does not accept EC and ECE certificates, resulting in double testing. Key items in automotive testing are still not open to foreign laboratories. Retail & Distribution Technical barriers to trade for European food products. 77 Unresolved Issues

18 18 2009-2010 Position Papers At the core of our advocacy mandate Red tape is holding back business development Retail & Distribution Cumbersome product labeling regulations. Cosmetics Pre-approval requirement for cosmetics advertisements. Human Resources Regulations governing the labour market are not flexible enough. 77 Unresolved Issues

19 19 77 Unresolved Issues PRC import ban Affects the following committees: Retail & Distribution Electrical Engineering and Equipment Health Enhancement Luxury Goods

20 20 2013 Position Papers: 41 New Issues Asset Management – 3 new issues Banking – 2 new issues Electrical Engineering & Equipment – 2 new issues Energy & Environment – 1 new issue Health Enhancement – 5 new issues Human Resources – 3 new issues Insurance – 2 new issues Intellectual Property Rights – 4 new issues Luxury Goods – 1 new issue Project & Procurement – 1 new issue Retail & Distribution – 1 new issue Tax – 2 new issues Telecommunications, Media & Content – 1 new issue Travel & Tourism – 3 new issues

21 21 2013 Position Papers 41 New Issues Electrical Engineering & Equipment Directive 401 is out of step with international practices. Retail & Distribution Product labeling - Taiwan requires its own unique recycling mark on product labels.

22 22 2013 Position Papers: 41 New Issues Financial services industry facing too many restrictions Asset Management Restrictions on RMB-denominated funds. Banking Complex process for outsourcing services. Unable to offer diversified products. Insurance Credit insurance and group insurance restrictions

23 23 2013 Position Papers 41 New Issues Luxury Goods, Travel & Tourism Promoting Taiwan as a luxury shopping destination Travel & Tourism Global distribution readiness for Taiwan’s travel products and services Better Living Equality of treatment for foreign residents Unified emergency response centre Traffic safety

24 24 In conclusion.. Taiwan is still a good place to do business but has fallen behind its regional competitors. Competition from other Asian tigers is fierce and action is needed - Unleash the Taiwan Tiger to catch up. ECCT members have made a significant contribution to the economy through investments, jobs, best practices. Cooperation with government is good but could be further strengthened. In particular: –More comprehensive consultation with the ECCT to share best international practices and standards would help all stakeholders. Unleashing the Taiwan Tiger

25 25 The ECCT thanks the Taiwan government, especially the CEPD, for excellent cooperation over the past year. We look forward to continued cooperation with the government in the year ahead.

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