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New Southbound Policy bearing fruit, says Taiwan trade office

The number of people from “New Southbound” countries residing in Taiwan has increased by 60 percent since 2016, according to the Executive Yuan’s Office of Trade Negotiations.

The office said on Thursday afternoon (May 23) that the government’s efforts in promoting ties with countries engaged with Taiwan’s New Southbound Policy (NSP) initiative had come to fruition.

Trade between Taiwan and NSP countries in 2018 amounted to US$1,171 billion, the office said, a 22 percent increase over 2016. Investment in Taiwan from NSP country-based companies reached US$3.92 billion in 2018, a 66 percent increase over 2016’s US$2.36 billion.

Taiwan hosted 32,318 exchange and research students from NSP countries last year, the office said, 60.8 percent more than in 2016. Additionally, the number of tourists from NSP countries increased by 60 percent over the two-year period, from 91,000 to 144,000.

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