New Southbound Policy Portal
President Tsai Ing-wen said Aug. 15 that Taiwan is committed to starting negotiations with the U.S. on a bilateral trade agreement and expanding related exchanges across all sectors.
Taiwan and the U.S. have enjoyed increasingly close industrial cooperation since the government took office in May 2016, Tsai said. This is evidenced by the number of U.S. business heavyweights such as Cisco Systems Inc. and Google LLC setting up innovation and R&D centers in Taiwan, she added.
In addition, Tsai said, Taiwan Bio Industry Organization was joined for the first time last month by U.S. Biotechnology Innovation Organization in staging the largest Bio Asia-Taiwan Conference and Exhibition to date in Taipei City.
Tsai made the remarks while receiving a delegation led by Michael R. Splinter, chairman of the U.S.-Taiwan Business Council, at the Presidential Office in Taipei.
According to Tsai, this healthy state of affairs is further illustrated by the nearly 20 percent increase in Taiwan exports to the U.S. during the first half of the year. Information communication technology products recorded the biggest growth, Tsai said, adding that Taiwan’s fast-tracked industrial transformation will enable the country to capitalize on related sector opportunities as the global industrial supply chain continues to readjust.
In light of changing international trade conditions, Tsai said, the government is encouraging Taiwan businesses operating abroad to move production home or step up investment in the U.S. or New Southbound Policy target countries.
A key plank in the government’s national development strategy, the NSP seeks to enhance Taiwan’s agricultural, business, cultural, education, tourism and trade ties with the 10 Association of Southeast Asian Nations member states, six South Asian countries, Australia and New Zealand.
Tsai said USTBC remains an important conduit for clear communication between companies in Taiwan and the U.S. It is sincerely hoped the council will continue fulfilling this role and strengthening two-way trade relations, she added. (SFC-E)
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