President Tsai Ing-wen called for the signing of a Taiwan-U.S. bilateral trade agreement Nov. 17, saying such a deal would help expand the two like-minded partners’ already close economic ties across the board.
Despite the challenges posed by COVID-19, Taiwan has been able to grow its economy while remaining a stable supplier to the rest of the world, Tsai said. During these uncertain times, a BTA would enable the two sides to capitalize on their respective strengths while creating even more business opportunities for the people, she added.
The sentiment is shared by many of Taiwan’s friends in the U.S., Tsai said, citing a letter co-signed by more than 50 senators sent to U.S. Trade Rep. Robert Lighthizer last month calling for the start of formal negotiations with Taiwan.
Tsai made the remarks during the annual general meeting of the American Chamber of Commerce in Taipei. Other prominent attendees included Minister of Foreign Affairs Jaushieh Joseph Wu and American Institute in Taiwan Director Brent Christensen.
According to Tsai, several major developments in bilateral economic relations have occurred this year. These include the decisions by U.S.-headquartered multinationals Google and Microsoft Corp. to found a third data center in Taiwan and make the largest investment in the country in 31 years, respectively, as well as plans by Hsinchu City-based Taiwan Semiconductor Manufacturing Corp. to build a US$12 billion advanced chip fabrication plant in Arizona.
Equally important is the Framework to Strengthen Infrastructure Finance and Market Building Cooperation concluded in September, which facilitates information sharing and technical exchanges while promoting related developments across the Indo-Pacific, she added.
Tsai said the two sides are finalizing the Taiwan-U.S. Economic Prosperity Partnership Dialogue, a new platform to explore cooperation opportunities in energy, infrastructure, supply chain restructuring and technology.
She also thanked AmCham for establishing the U.S.-Taiwan Bilateral Trade Agreement Coalition in support of a BTA, adding she looks forward to an even stronger economic partnership with the U.S. going forward. (SFC-E)
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