Trade pact will deepen economic ties between Taiwan, US: President Tsai

蔡總統：貿易協定將加深台灣與美國之間的經濟聯繫

President Tsai also pledged to attract more foreign investment, boost tourism


TAIPEI (Taiwan News) — Meeting with the delegation from the American Chamber of Commerce in Taipei (AmCham Taipei) on Tuesday (Aug. 18), President Tsai Ing-wen (蔡英文) said a bilateral trade pact would further deepen the economic ties between Taiwan and the U.S. and spur growth for both countries.

Tsai met with AmCham Taipei Chair C.W. Chin on Tuesday morning, during which she reiterated her administration’s intention to start negotiations for a free trade agreement (FTA) with the U.S. The agreement will benefit Taiwanese and American industries and deepen bilateral economic ties, remarked Tsai, adding that it will create a win-win situation for both countries.

The country will continue to improve its investment environment to attract foreign investors, said Tsai. She added that Taiwan will open both arms to welcome both investors and tourists from abroad.

Tsai expressed her appreciation to the AmCham representatives for supporting an FTA between Taiwan and the U.S. and for joining forces to support a government-led initiative that aims at building a network for Taiwanese and American enterprises.

In its 2020 White Paper, AmCham Taipei called on the U.S. government to begin preliminary discussions for launching bilateral trade agreement negotiations. It also urged the U.S. to resume dialogue on the Trade and Investment Framework Agreement with Taiwan, which was last convened in 2016.

The business association attributed China’s political pressure and Taiwan's ban on the import of American beef and pork products containing ractopamine to the stalled progress on FTA negotiations. It said a different strategy is needed by the U.S. administration to resolve issues that both countries have not agreed on while maintaining a positive dialogue on the trade pact.

U.S. Secretary of Health and Human Services Alex Azar confirmed having discussed trade issues, including the trade agreement, with officials from the Taiwanese government during his trip to Taiwan last week. However, he declined to reveal any details.

Established earlier this month by the Taiwan External Trade Development Council, the Taiwan-U.S. Business Alliance is dedicated to promoting exchanges between Taiwanese and American industries and firms. It pledged to work with AmCham Taipei as well as the American Institute in Taiwan to provide services to Taiwanese companies interested in investing in the U.S.

Founded in 1951, AmCham Taipei has been the biggest international business organization in Taiwan, representing the interests of 500 member companies in the global business community.