Taiwan News
Date: 2016-06-25
By: Wendy Lee, Taiwan News, Staff Writer

As Britain voted to leave the European Union after the referendum campaign, Taiwan should shift its export focus from Europe to China and ASEAN, said the Chairman of the Chinese National Association of Industry and Commerce (CNAIC), Lin Por-fong.

Britain on Friday voted to leave the 28-nation European Union, with 52% of the votes in favor for leave, shocking the markets but delighting the “leave” campaigners.

Chairman of the National Association of Small and Medium Enterprises, Lin Huei-Ying, expressed her concerns that Brexit could create a domino effect in EU, and further crumble the union.

In an interview, Lin Por-fong said that Taiwan’s exports to the EU account for around 10 percent of the entire trade, but as Britain’s exit from the EU will get under way, Taiwanese enterprises would likely to shift their exports to China and ASEAN.     [FULL  STORY]