Taiwan, U.S. business associations ink joint statement calling for BTA

2020/09/11

A joint statement calling for a Taiwan-U.S. bilateral trade agreement was inked by Taipei City-based Chinese National Association of Industry and Commerce and the American Chamber of Commerce Sept. 9 in the capital, according to the Ministry of Economic Affairs.
 
 Witnessed by MOEA Minister Wang Mei-hua, the statement was signed by CNAIC Chairman Lin Por-fong and Amcham Chairman C.W. Chin.
 
 The statement said Taiwan and the U.S. are key trading partners, with bilateral trade totaling nearly US$43 billion in the first half of this year. The announcement to ease restrictions on U.S. beef and pork imports made by President Tsai Ing-wen last month has removed long-standing obstacles to entering BTA negotiations, it added.
 
 Rationale for a BTA has been strengthened by recent global developments such as U.S.-China trade frictions and the COVID-19 pandemic, the statement said, adding that concern about the security of supply chains has enhanced integration between Taiwan and U.S. enterprises, especially those in the fields of semiconductors and other advanced technologies.
 
 BTA negotiations will additionally help facilitate Taiwan-U.S. trade and investment exchanges while furthering the two sides’ common goal of promoting peace and stability in the Indo-Pacific, the statement said.
 
 Echoing the statement’s sentiment, Wang said during the signing ceremony that Taiwan has long been a reliable partner of the U.S. The two sides’ rock-solid partnership is demonstrated by collaboration in areas spanning defense, trade and talent cultivation, as well as growing inbound investment by U.S. technology heavyweights like Amazon.com Inc. and Google on the back of the country’s democratic values and commitment to protecting intellectual property rights.
 
 Wang also welcomed plans for new bilateral economic dialogue announced Aug. 31 in remarks by David R. Stilwell, assistant secretary of Bureau of East Asian and Pacific Affairs under the U.S. Department of State.

Source: Taiwan Today (https://taiwantoday.tw/index.php)