The guideline for the New Southbound Policy (NSP) was set out at a meeting on international economic and trade strategy hosted by President Tsai Ing-wen on August 16, 2016. The NSP is aimed at strengthening Taiwan's partnership with 18 neighboring countries, including ten ASEAN countries, six South Asian countries, Australia, and New Zealand. Taiwan intends to foster links with the NSP-target countries in technology, economic and trade, and culture, as well as to share resources, talent, and markets. The goal is to create models of mutual benefit and win-win cooperation.
The Ministry of Science and Technology (MOST) has been enhancing the effectiveness of NSP, exploring potential NSP markets, developing cutting-edge technologies, and cultivating top talent.