President Tsai vows to bolster Taiwan-US trade ties, broaden business environment

2022/04/01

President Tsai Ing-wen said March 30 that the government will continue to improve Taiwan’s investment environment while bolstering partnership with the U.S. to fast-track negotiations on a trade agreement benefiting both sides.
 
Despite the impact of the COVID-19 pandemic, Taiwan recorded economic growth of 6.45 percent in 2021, the highest over the past 11 years, Tsai said. This outstanding development is highlighted in a recent survey conducted by the American Chamber of Commerce in Taiwan that shows 80 percent of its members feel optimistic about the local economy’s outlook over the next three years, she added.
 
The government is committed to cultivating potential and increasing competitiveness in sectors spanning biotechnology, digital, health care, manufacturing and semiconductors, she said. At the same time, promotion of renewable energy and information security in line with the high standards of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership is underway, she added.
 
Tsai made the remarks during AmCham Taiwan’s annual banquet in Taipei City. The gathering of business leaders was also attended by luminaries such as Foreign Minister Jaushieh Joseph Wu and American Institute in Taiwan Director Sandra Oudkirk.
 
According to Tsai, Taiwan-U.S. trade ties have gone from strength to strength, as evidenced by the resumed Bilateral Trade and Investment Framework Agreement talks, the second Economic Prosperity Partnership Dialogue and the establishment of the Technology Trade and Investment Collaboration framework, she said.
 
Highlights in these accomplishments are the inking of memorandums of understanding with the U.S. states of Arizona and New Mexico for deeper cooperation, and the opening of trade offices by the U.S. states of Montana and New Mexico in Taipei City, she added.
 
Tsai took the opportunity to thank AmCham for its strengthening of Taiwan-U.S. economic ties, adding that the government will continue to work with the U.S. and other like-minded partners to ensure regional stability and prosperity while growing the rules-based international trading system to expedite a broad-based economic recovery. 


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