41 FRX NO.:
P.04
Intellectual property rights
1
US
After politics, the ongoing negotiations with the US over IPR has dominated the news, with pressure being applied on the Taiwanese after the Legislative Yuan only approved part of
of the proposed US/Taiwan copyright agreement. A t the same time the International Intellectual Property Alliance, citing lack of enforcement and continued losses through copyright infringement, have lobbied strongly for 301 sanctions to be imposed on Taiwan. The debate has raged on about what is seen by some of heavy handedness from the US (the American Chamber here feel 301 action would be excessive), and how far Taiwan should bend in meeting US demands (there is particular resistance to a call for a ban parallel imports), GATT membership eligibility and possible retaliatory action by Taiwan have also
have also been raised, The next formal round of talks take place this month.
on
Financial matters
The nomination of Premier Lien, perceived as very much business oriented, stimulated frenzied activity on the Taiwan Stock Exchange, pushing the price index up to NT$ 4,200. This followed the announcement, in January, that foreign securities houses would be allowed to invest in the stock market an announcement which did not attract much enthusiasm at
at the time but may be of greater interest since.
Against this came the report, on 24 February, that Shearson Lehman, which was the first securities firm to come to Taiwan and was expected to establish Taiwan's first futures commission merchant, was downgrading its branch office to representative status, due to poor business.
New Ministry of Finance regulations, compatible with GATT, will allow non-US foreign insurance companies to open branches on Taiwan. To date, only 14 life and 8 non-life US companies have been given licences.
Visitors from UK
Recent visitors to Taiwan include Sir Wyn Roberts, Minister of State for Wales, primarily here to attract Taiwanese investment. to
Wales; a team of leading industrialists looking at opportunities in th Six-Year Plan, led by Lord Mowbray: a 17- strong Publishers Association mission (seemingly undeterred by copyright worries); a small group from the Chemical Industries Association; the Governor-Designate of the Bank of England; and a 10 strong mission from the Northern Ireland Industrial
Development Board.
MH 1/3/93