2010 GDP could hit 5 percent: Official
Updated: 2010-04-23 07:11
(HK Edition)
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Taiwan's economic growth could hit 5 percent this year judging from its performance in the first quarter, "Minister of Economic Affairs" Shih Yen-shiang said Thursday.
While fielding questions from Kuomintang Legislator Lee Ching-hua at the Legislative Yuan, Shih said the better-than-expected growth has something to do with the proposed economic cooperation framework agreement (ECFA) with the mainland.
The agreement, which is still under negotiation between Taipei and Beijing, is expected by the Taiwanese side to be concluded in June.
Citing Taiwan's boosted international trade and export orders, Shih said there are increasing signs that the growth rate could hit 5 percent this year, although the Directorate General of Budget, Accounting and Statistics has forecast only 4.72 percent growth.
Shih also declined to rule out the possibility of 6.5 percent growth - forecast by the International Monetary Fund - saying that "it is not absolutely impossible, but 5 percent is a very reasonable forecast for the time being."
Regarding the cross-Straits trade pact, Shih said that a priority "early harvest" list prepared by Taiwan as part of ECFA negotiations is more comprehensive than that of the mainland.
Shih said the number of items and their total export value to be put forward by the "Ministry of Economic Affairs" at the negotiating table will certainly be higher than the mainland's, based on a proportional principle due to the difference in size of the two markets.
Commenting on a local media report that Taiwan will present a list containing 300 to 500 items, far short of the mainland's list of more than 700 items, Shih described it as sheer speculation.
Taiwan and the mainland are slated to hold the next round of ECFA talks in May or June on the mainland. Both sides have reiterated their resolve to clinch the agreement as soon as possible.
China Daily/CNA
(HK Edition 04/23/2010 page2)