The 11th Taiwan-U.S. Trade and Investment Framework Agreement Council meeting is scheduled for June 30 via video conference, underscoring the two sides’ shared commitment to improving cooperation and creating opportunities in related areas.
Hsiao Bi-khim, head of the Taipei Economic and Cultural Representative Office in the U.S., and Brent Christensen, director of the American Institute in Taiwan, will open the meeting. Taiwan’s delegation is to be led by Yang Jen-ni, deputy trade representative of the Cabinet-level Office of Trade Negotiations, while the U.S. side involves officials from the Office of the U.S. Trade Representative, according to the Ministry of Foreign Affairs.
COVID-19 has created more avenues for the like-minded partners to strengthen two-way trade ties, the MOFA said, adding that Taiwan looks forward to expanding mutually beneficial collaboration with the U.S. across a broad spectrum of areas. TIFA, signed by TECRO and the AIT in 1994, is the main platform for advancing Taiwan-U.S. trade and investment.
Echoing the MOFA’s remarks, the OTN said Taiwan is a vital link in the global supply chain and a trustworthy U.S. partner. In addition to bolstering the bilateral trade relationship, the meeting will help promote Taiwan’s connections with other leading economies, the office added.
In a tweet on its official Twitter account, the MOFA said “Trade & investment are the beating heart of #Taiwan-#US relations. We welcome the staging of the 11th TIFA Council meeting via video conference June 30 Taiwan time, & look forward to further cooperation & new opportunities in areas of mutual interest.”
Official statistics reveal that Taiwan is the 9th largest trading partner of the U.S. and the North American nation its second biggest. Combined trade in goods reached nearly US$91 billion in 2020, with cumulative bilateral foreign direct investment topping US$47 billion. (SFC-E)
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