Outlook Taiwan: returning from the slump with amended substance legislation
Taiwan is on the go again. As an electronics exporting country, Taiwan is estimated to soon make up for the losses inflicted by the global recession last year. As employment figures are expected to grow, it may also return as a consumer market.
Taiwan is largely dependent on China. Now, the demand for electronic products from the mainland is increasing with predicted growth in its electronics consumer market. This can mean steady growth rates in exports and the gross domestic product.
Electronic goods make up the bulk of Taiwan’s export-driven economy and like for the other of Asia’s tiger economies, the sector is expected to grow.
As the global recession abates, things start to look brighter even if unemployment rates still have not recovered. This is largely because of a range of orders from mainland China where subsidies to rural electronics buyers might boost Taiwan’s exports of electronic products.
Even so, Taiwan has embarked on amendments to the existing environmental legislation.
New substance restrictions
This autumn, Taiwan’s electronics industry faces news in the legislation as regards the management of toxic substances.
Taiwan’s Toxic Chemical Substances Control Act which regulates all handling of hazardous substances has been updated. There are new restrictions in the use of substances like mercury, asbestos and dioxane.
Further, bisphenol A has been added to the restrictions list. It is used primarily to make plastics and has long been used in baby and water bottles, sports equipment, CDs and DVDs and household electronics. The substance has endocrine disruptive properties, meaning it can copy the human body’s hormones, causing negative health effects.
Text: Hansi Elsbacher/Greentech info
Facts about Taiwan:
Important laws:
Waste disposal act and Toxic chemical substances control Act
Taiwan’s consumer electronics market is estimated to be worth around US$10.0 billion by 2013 with growth in products like 3G phones, smartphones, netbooks, Blu-ray DVD players and notebooks.
Sources:
law.epa.gov.tw/en
www.marketresearch.com
www.economist.com
This page was last changed 04 October 2009