President Tsai talks TIFA objectives, anticipated outcomes

2021/07/01

TIFA is the main platform for the two sides to address issues of mutual concern and discuss ways to further strengthen an already robust partnership, Tsai said. After a hiatus of five years, the event offers an opportunity for Taiwan and the U.S. to respond to the changing international landscape while promoting bilateral, regional and global trade, she added.

Tsai said a key point on the agenda of the June 30 meeting involves discussions on streamlining procedures for the import and export of medical goods. This will be of tremendous assistance as Taiwan continues its COVID-19 fightback, she added.

It is important for Taiwan to keep managing the pandemic and moving its economy forward, Tsai said, adding that in doing so, the country can continue contributing to promoting peace and stability in the Indo-Pacific.

According to the Cabinet-level Office of Trade Negotiations, Deputy Trade Representative Yang Jen-ni and Terrence J. McCartin, her counterpart from the Office of the U.S. Trade Representative, will lead the respective teams in the discussions.

In addition to identifying ways of enhancing post-pandemic cooperation and recovery, the OTN said, Taiwan and the U.S. will focus dialogue on issues such as environmental protection, digital trade, financial services, investment, intellectual property rights, labor rights, medical supplies and pharmaceuticals, non-market economy, regulation transparency, supply chains and trade facilitation.

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.
 

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