New Delhi [India], March 7 : Vincent Yi-hsiang Chao, the Deputy Secretary-General at the National Security Council in Taiwan, has warned of the far-reaching economic and security implications of the ongoing Middle East conflict, stressing the need for regional stability.
Speaking to ANI, Chao highlighted that the tensions involving the US, Israel and Iran are already being felt globally.
"There are going to be implications and repercussions for Taiwan, whether we're talking about energy, the economy or potentially financial markets as well, and already we are seeing some signs of that," he stated.
Amid these developments, he explained that Taiwan remains focused on its own regional security priorities while closely monitoring the crisis in West Asia.
"We are going to see what is happening in the Middle East through the prism of our immediate interests, which is peace and stability over the Taiwan Strait. And we do hope that this conflict in the Middle East is finished as soon as possible so that we can continue to focus on deterring conflict across the Taiwan Strait in the Indo-Pacific region," he added.
In this context, Chao emphasised that Taiwan is maintaining robust diplomatic coordination to navigate the evolving situation.
"We will continue to be in close contact with the United States and close partners and allies in the region," he noted.
Addressing the impact of the war on global supply chains, he pointed out that Taiwan has been proactive in reducing its reliance on volatile regions.
"Fortunately, the diversification process has already started for a couple of years now, and we are importing a lot more from the United States. We're working with Southeast Asia as well," he said.
However, he acknowledged the persistent risks for energy-dependent nations.
"We can't be over-leveraged in any part of the world, particularly one as volatile as the Middle East. And so we have been taking a lot of steps to rectify that and to manage the trade diversification components. Every country that relies on Middle Eastern gas and Middle Eastern oil is still going to be impacted to a large degree," Chao cautioned.
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