'New Southbound Policy' promotion plan launched (September 5, 2016)

To diversify Taiwan's risks and minimize overdependence on any single market, the Executive Yuan on September 5, 2016 introduced the promotion plan for the New Southbound Policy to strengthen Taiwan's relations with its neighbors to the south, from South and Southeast Asia to Australia and New Zealand. The plan prescribes specific measures for four focal areas: economic and trade collaboration, talent exchange, resource sharing and regional connectivity. By pushing economic, technological and cultural exchanges, Taiwan hopes to share resources, talent and markets with those countries while creating a new and mutually beneficial model of cooperation. These efforts will in turn build a sense of economic community and enable Taiwan to integrate more fully into the regional economy.

The plan consists of four main components: Economic and trade collaboration, Resource sharing, Talent exchange, and Regional connectivity.

Citation：Executive Yuan