Many countries are seeking to broaden partnerships and establish new avenues of cooperation to alleviate the strain of great-power competition and navigate uncertainties in international politics, and Taiwan is no exception.
Since the official launch of the New Southbound Policy (NSP) in 2016, the Tsai Ing-wen administration has been working diligently to strengthen cultural, diplomatic, and economic ties between Taiwan and 18 southern neighbors, including ASEAN countries, South Asia, Australia, and New Zealand. Economic collaboration, talent exchange, people-to-people ties, and resource sharing are the foundation of the NSP, emphasizing mutually beneficial cooperation models. President-elect Lai Ching-te, set to take office in May, is expected to continue and potentially enhance the NSP during his tenure to broaden diplomatic space for Taiwan.
One of Lai’s priorities will be to further people-to-people exchanges under the NSP, fostering mutual understanding and language exchanges with New Southbound countries. This aligns with his commitment to create a blueprint for mutual development between Taiwan and neighboring nations, emphasizing the importance of the people in achieving diplomatic goals.
In addition to economic policies, Lai’s government will focus on cooperation in the semiconductor industry as a new frontier. Collaborative mechanisms with countries like Japan and Vietnam aim to boost Taiwan’s competitive advantage in the semiconductor supply chain and enhance high-tech engagement with New Southbound partners.
Lai’s efforts to strengthen the NSP may face challenges, particularly in securing funding and parliamentary support. Navigating these obstacles will be crucial for Lai’s leadership, requiring a balanced approach to rally support for the NSP while addressing concerns from opposition parties.