A total of US$14.55 million in deals spanning potential-laden local sectors such as electronic components, information and communication technology and medical devices was inked at U.S. Business Day staged by Taiwan External Trade Development Council (TAITRA) Aug. 29 in Taipei City.
The event featured 150 matchmaking sessions involving representatives from 117 local firms, 15 major U.S. companies and the economic development offices of the states of Hawaii, New Mexico, Pennsylvania and Utah. Launched in 2012 by TAITRA, which is overseen by the Bureau of Foreign Trade under the Ministry of Economic Affairs, U.S. Business Day is one of the biggest government-organized events for cultivating trade opportunities between the two countries.
MOEA Deputy Minister Wang Mei-hua said at the opening of the event that Taiwan and the U.S. enjoy a long-standing and robust relationship across a broad spectrum of areas. American investment in Taiwan has played and will continue to do so a central role in assisting the country’s industrial development, she added.
TAITRA Chairman James C. F. Huang said rapid advances in Taiwan’s high-tech cluster are attracting U.S. firms looking for a reliable source of high-quality procurement. It is hoped the annual event will help lay the groundwork for expanded collaborative economic exchanges in this sector and others, he added.
Equally bullish on the prospect of ramping up bilateral business relations is Kin Moy, director of the American Institute in Taiwan.
Strong democratic institutions and a dynamic market economy make Taiwan a natural export market for U.S. firms, he said, citing the country’s standing in 2016 as the U.S.’s 10th largest trading partner in goods, 14th largest export market and seventh largest source of foreign students pursuing higher education.
According to Moy, this healthy state of affairs is underscored by Taiwan’s enthusiastic participation in the SelectUSA investment summit since the inaugural edition in 2013. Such a consistent level of support demonstrates the strength of commercial ties between the two sides and augurs well for the future, he said.
Another highlight of the event was TAITRA’s inking of a memorandum of understanding with Chamber of Commerce Hawaii on strengthening trade ties. Under the pact, the two organizations will promote corporate exchanges, information sharing and reciprocal visits with a focus on agriculture, manufacturing, renewable energy, technology and tourism. (SFC-E)
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