On August 29, 2024, Taiwan’s Public Policy, and Think Tanks, among other organizations, jointly held a symposium on the theme “New Southbound Plus! Opportunities and Challenges for Taiwanese in Southeast Asian Countries,” inviting scholars and experts to analyze the topic.
The moderator and Vice Executive Director of Taiwan Think Tanks, Dong Siqi, emphasized that Taiwan has made significant achievements since implementing the New Southbound Policy in 2016. Not only has Taiwan deepened its cooperation with Southeast Asian countries, but it has also reduced its reliance on the Chinese market. Dong noted that the New Southbound Policy aligns with global trends, with countries like Japan, Korea, and Europe actively engaging in Southeast Asian countries. In line with digital transformation, Taiwan began promoting the “Digital New Southbound” initiative in 2022 to strengthen cooperation with Indo-Pacific friendly nations.
Dong Siqi highlighted the paradigm shift in global geopolitics, industry economics, and business models. President Lai Ching-te advocated for an “Economic Sunrise Nation,” while Minister of Foreign Affairs Lin Chia-lung proposed the “Honorable State Plan,” aiming to leverage Taiwan’s industrial advantages to assist friendly nations in economic development, thereby deepening ties with the democratic alliance.
The “New Southbound Plus” was described by Taiwan-Asia Exchange Foundation Chairman and Presidential Advisor Xiao Xinhong as an enhanced version of the New Southbound Policy. Xiao emphasized the need to establish new economic, technological, and diplomatic focal points, including smart cities, artificial intelligence, to expand Taiwan’s influence and importance.
Former Representative of the Republic of China to India, Chen Mumin, highlighted India’s status as one of the world’s most populous countries and the fifth-largest economy. Despite this, there are only 400 Taiwanese residing in India with around 30,000 people traveling between the two countries annually, indicating a lack of familiarity with and understanding of India among Taiwanese.
Chen Mumin suggested that India presents significant opportunities for Taiwan, especially as many Taiwanese businesses relocate from China. Indian society is increasingly interested in Taiwan’s regional security role and technological industry, showcasing potential for collaboration and exchange.
Hsu Tsun-tzu, Director of the Taiwan-ASEAN Association Research Center, noted initial skepticism towards the New Southbound Policy’s effectiveness. However, recent shifts in global geopolitics and supply chains due to China’s foreign relations and strategic competition with Western democracies have enhanced the relevance of Taiwan’s engagement with Southeast and East Asia.
Hsu emphasized that Taiwan, with its advantages in timing, location, and people, has far greater development potential in Southeast Asia and India than previously anticipated. He envisioned Taiwan’s future engagement taking place in infrastructure and digitization in Southeast Asia, humanitarian efforts and resource provision in Africa, tourism development in the South Pacific, and enhancing cultural and artistic soft power.
Yang Hao, Executive Director of the Taiwan Asia Exchange Foundation, highlighted Taiwan’s unique identity and emphasized the need for continued efforts to diversify economic activities away from China. The “New Southbound Plus” initiative focuses on digital technology, trade, health and public health, disaster resilience, democratic principles, peace, stability, prosperity, and development-centered cooperation.
The discussion panel concluded with insightful discussions on various aspects, such as the impact of democracy levels in Southeast Asian countries on the New Southbound Policy, the influence of Chinese factors on academia and industry, the ability of the new generation in Southeast Asia to adapt to life there, and the opportunities for Taiwanese in various industries in the region.