MOEA lauds success of US trade promotion tour

2022/10/19

A trade delegation led by Economic Minister Wang Mei-hua Oct. 9-16 to the U.S. has helped advance bilateral ties and attracted significant investment into Taiwan, according to the Ministry of Economic Affairs.
 
The visit marks a milestone in the partnership, the MOEA said. It is particularly timely as Taiwan reopened its borders to international travelers Oct. 13, the ministry added.
 
Recent geopolitical developments have given added impetus for the government to reiterate its commitment to contributing to global supply chain resilience, the MOEA said.
 
During Wang’s last stop in Silicon Valley, the delegation visited Applied Materials Inc., Cisco Systems Inc., Nvidia Corp. and Synopsys Inc. to expand partnership in supply chain development and exchanges in both technology and personnel.
 
Wang and high-tech executives focused discussions on deepening R&D cooperation in key sectors spanning artificial intelligence, display technologies, semiconductors and telecommunication equipment. The visit is expected to bring around NT$30 billion (US$938 million) in R&D investment and business for Taiwan.
 
According to Wang, the U.S. is the third leading source of foreign investment for Taiwan, with the two sides sharing complimentary advantages in economic and industrial developments. Bilateral trade reached a new high of US$100 billion last year, she added.
 
The U.S. tour follows closely on the Technology Trade and Investment Collaboration framework announced with U.S. Secretary of Commerce Gina Raimondo during a videoconference Dec. 7, 2021, Wang added.
 
Other highlights of the minister’s tour included delivering a speech on Taiwan’s semiconductor prowess at CSIS, taking part in the inaugural Taiwan Expo USA, attending the Taiwan-U.S. Business Forum and witnessing the signing of seven MOUs on renewable energy and 5G cooperation, all in Washington D.C.


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