The New Southbound Policy was implemented by the President Tsai Ing-wen administration, meant to redefine Taiwan’s role in Asia’s development, identify a new direction and force for economic development, and create future value. The Policy was created as a response to changing global conditions and a trend toward regional integration.
The main goals of the Policy are to foster connections between Taiwan and ASEAN and South Asian countries, as well as with New Zealand and Australia. It will focus on areas such as economics and trade, science and technology, and culture. The policy also seeks to share resources, talent, and markets. The goal is to achieve this in ways that are mutually beneficial, and thus create a ‘sense of economic community’ in the region.
The government also hopes to improve communication channels under the Policy, and will seek to establish mechanisms for negotiation and dialogue. These mechanisms will help build consensus between Taiwan and the target countries, and help effectively resolve conflicts and disagreements, while building up mutual trust and a sense of community.
To achieve this, the Taiwan government will create incentives for businesses, non-governmental organizations, and other groups to form two-way connections between Taiwan and target countries, in areas such as trade and investment, culture, tourism, and education. It will also seek to train more Taiwanese talent to assist in this endeavor.
The New Southbound Policy is a wide-ranging approach that will involve many different government organizations, at both the local and central levels. It will also require close cooperation with the private sector and NGOs to accomplish.
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