The United States and Taiwan have agreed to start formal discussions under a new trade initiative. Cabinet spokesperson Lo Ping-cheng said on Thursday that the initiative may help Taiwan join the CPTPP trade agreement and fend off economic coercion from other countries.
Officials first announced the US-Taiwan Initiative on 21st Century Trade on June 1 and have been discussing the agenda over the past few months. Negotiations are scheduled to begin in the fall, with the goal of establishing an official trade agreement.
Lo says the talks will boost Taiwan's economy and promote further international investment, especially in the country's technology sector. He adds the two countries will also discuss environmental protection and labor rights.
Economic and trade officials say the talks will also discuss building an economy that supports women and people from disadvantaged backgrounds, as well as small and medium-sized enterprises. They say helping these groups is a part of Taiwan's commitment to promote diversity, equality and inclusiveness.