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(Focus Taiwan) -- Taiwan should turn to
the Chinese and East Asian markets to ensure that its petrochemical industry can
thrive, industry leaders said during a meeting at the Ministry of Economic
Affairs Friday. Although Taiwan has managed to raise the added value rate of its
petrochemical products at home, it should also search for investment
opportunities in foreign countries if it wants to survive the increasing
international competition, they said. To be more specific, Taiwan should work
with developing countries with large market demand for petrochemical products,
said Wenent Pan, chairman of China Technical Consultants, Inc.
As China implements the centralized economic development guidelines
between 2011 and 2015, said Chen Chung-yu, vice president of Taiwan Synthetic
Rubber Corp.Chen said, the country will need to rely heavily on Taiwan's
specialty petrochemicals. Through cross-strait cooperation, he said, Taiwan can
expand its spending on petrochemical R&D - a major factor in raising
the added value rate -- and attract foreign investment.
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