President Lee Teng-hui this evening was invited to deliver a speech at the dinner hosted by the European Council of Commerce and Trade in celebration of "Europe Day."
The full text of President Lee's speech is as follows:
It is a pleasure for me to attend the Europe Day dinner this evening and celebrate with you this important day of commemoration for the European Union. I vividly recall the two previous Europe Day celebrations in which I participated. This year's celebration is exceptionally significant because it occurs on the eve of another momentous milestone for European integration. Everyone here today knows that the European countries have reached a new turning point - the coming birth of a single currency, the euro. With its great potential to grow into a major currency that is comparable to the US dollar, the euro will certainly make a significant impact on global economy and finance in the future. Indeed, the prospect of the euro is closely tied to European integration. We would be happy to see the orderly progress and successful integration of the European economy. In view of the growing trade relations between European countries and the Republic of China, we watch with great interest the development of the economic and monetary union in Europe. We hope that new member countries will, one by one, join the European Union to forge a unified and solid foundation for Europe and create even better prospects for cooperation between Europe and Asia.
I would like to take this moment to thank, in particular, the European Council of Commerce and Trade and its members for continually supporting the Republic of China through these many years. This is the tenth anniversary of the ECCT. All of its members not only have witnessed but also, have participated in the economic transformation and development of the Republic of China. They have played an indispensable role in assisting and promoting the development of substantive relations between European countries and the Republic of China.
During recent years, we are enjoying increasingly dynamic bilateral relations with European countries. Exchanges in tourism, culture, education, and technology have expanded along with growing trade relations. Notwithstanding, I believe that there is still much more room for improvement in the bilateral relations between European countries and the Republic of China. Let me share some of my views on this subject with you this evening.
On the whole, trade, investments, and cultural exchanges as well as technical cooperation are the principal pivots for the development of relations between Europe and the Republic of China. The total amount of our two-way trade has increased rapidly and its scope has expanded. Trade between European nations and the Republic of China has grown from US $10 billion in 1987 to US $40.02 billion in 1997, multiplying by four times in just ten years. Europe is now our third largest market, next only to the United States and Japan. Although our major European trading partners are mostly from Western Europe there are, however, bright prospects for Central and Eastern Europe. We have begun to pay more attention to developing trade with these regions. Today, economic exchanges between Europe and the Republic of China occur frequently. Their scopes have expanded to include industry, technology, and investment. In the next few years, the Republic of China will focus on improving our investment climate, accelerating our steps toward liberalization, and thereby attract more European multinational corporations to invest and build plants in Taiwan. In the meantime, more and more of our corporations are investing in Europe. Likewise, the European countries have also taken a greater interest in our capital market. Today, many European banks have set up branches in Taiwan and participate in our local capital market. In finance, the Republic of China has the intention and enough capability to become a partner for European countries. The Asian financial turmoil clearly shows the world that almost no country can stay outside the global economic system. Although we initially suffered some minor setbacks from the Asian economic crisis, we quickly recovered. Moreover, we are extending a helping hand to the ASEAN countries. We are presently engaged in discussions with many of our neighbors about how to prevent the crisis from further expanding. We hope to use this opportunity to establish mechanisms for settling the regional financial crisis and restoring confidence in the international community toward the economic and trade potential of Asia. We are very pleased that European countries have also offered concrete measures of assistance to Asian countries during the Asia Europe Meeting held recently in London. I believe that Europe and the Republic of China should work together and devise collectively concrete methods for resolving such financial problems.
Right now, we have completed most of our bilateral consultations with other countries for accession to the World Trade Organization. I am confident that economic cooperation and trade relations between Europe and the Republic of China will accelerate under bilateral and multilateral frameworks after we successfully become a member of the WTO.
Equal in importance with the vigorous improvement of economic relations are cultural establishment and exchanges. This is the main reason for my recent emphasis on and promotion of spiritual reform. Despite technological advances and a gradual formation of the concept of global village, cultural differences among countries continue to exist. As such, using cultural exchanges to increase mutual understanding among countries becomes all the more necessary.
Even though contacts between Europeans and Chinese began as early as the 16th century, cultural and ideological gaps have caused various conflicts during the early period of our relations. For geographical and historical reasons, bilateral cultural exchange could not unfold. Notwithstanding, Europe is the birthplace of Western civilization and the cradle of modern industrial civilization. Similarly, the Republic of China is the safe-keeper of traditional Chinese culture while it pursues the discovery and development of a rich indigenous culture. It will be mutually beneficial for us to expand cultural exchanges. I have noticed that our people have high regard for European cultural and artistic events held in the Republic of China. Recently, many of our folk art groups have also been invited to perform in Europe. This indicates Europe's acknowledgment of the vitality of our art world. Of particular noteworthiness, the National Palace Museum will send a special exhibition to France this coming October. This is indeed a grand occasion for Sino-European cultural exchange. I hope that these exhibitions will spur a trend toward a higher level of cultural exchange between Europe and the Republic of China.
The guests seated here today are the talented elite of their respective countries. I invite all of you to join us and do our best to promote cultural exchanges between Europe and the Republic of China. If the corporate world can sponsor and support the arts, academic research, exchanges between social organizations and other cultural activities, our bilateral exchanges will certainly accelerate. We hope that the governments involved will coordinate their policies and draw up a long-term and systematic plan to vigorously promote cultural exchanges between Europe and the Republic of China.
At this critical stage of transformation facing both Europe and the Republic of China, I remain confident that our mutual vitality and strengths will further emerge from the enhancement of substantive bilateral exchanges and ideological stimulation. Let us join hands and promote together a balanced development between cultural spirit and material civilization so that we can build a caring, prosperous and harmonious global society to welcome the arrival of the new millennium. Thank you.