Taiwanese President Lai Ching-te said he hopes defense spending will reach 5% of the country’s gross domestic product (GDP) by 2030.
A day earlier, the government announced that next year’s defense budget would amount to 3.32% of GDP, including funding for the coast guard and other areas.
During a visit to a naval base on Taiwan’s northeastern coast, Lai noted that threats from China have increased in recent years. He expressed hope that by 2030 Taiwan’s defense expenditures would meet NATO standards at 5% of GDP.
“This not only demonstrates our nation’s determination to safeguard national security, democracy, freedom, and human rights, but also shows our readiness to stand shoulder to shoulder with the international community to jointly exert a deterrent effect and maintain peace and stability in the Indo-Pacific region,” Lai said.
The president added that the government will continue to push for cooperation with international allies in weapons research and development, as well as in defense production.
