Taiwan should give full play to its advantages and share the dividends of the Belt and Road Initiative, suggested a Taiwan academic Saturday.
Taiwan is geographically part of the Maritime Silk Road, said Pang Chien-kuo of Taipei's Chinese Culture University, at a forum in Xiamen University.
Taiwan and the mainland have become integrated following years of economic and trade exchanges. Taiwan has comparative advantages in service and financial industries, and international industry transfer experience, Pang said.
(File photo: VCG)
He encouraged the Taiwan business community to engage in fields they are competitive. The Belt and Road Initiative aims to prioritize people-to-people exchange, capital flow, logistic and information connectivity. Pang described this as "unprecedented opportunities" for the medium and small businesses, and the manufacturing industry in Taiwan.
Pang said that the mainland has demonstrated its openness towards Taiwan people and businesses by measures promoting cross-Strait economic and cultural cooperation announced in February. Extensive market and growth potential are on the table if Taiwan takes advantage of the new measures.
Li Fei, a professor with the Taiwan study institute of Xiamen University, said that Taiwan and the mainland are complementary in some industries. Taiwan has some full-fledged industries and technologies but its market is rather limited. The mainland owns a much larger market and more capital, while some of its industries are yet mature.
With the aid of the mainland, Taiwan can further explore the global market, which is of great significance for Taiwan's economy, said Li.