President Tsai Ing-wen (蔡英文) welcomed back a team from the Taiwanese Chambers of Commerce of North America returning from the United States on Monday, following further talks over a bilateral free trade agreement (FTA). Tsai said she aims to complete negotiations within the year and hopes to be able to sign the deal, known as the U.S.-Taiwan Initiative on 21st-Century Trade, shortly thereafter.
Tsai says that Taiwan is the U.S.’ eighth largest trading partner and that the two countries have complimentary industrial structures.
Tsai says her government’s Three Major Programs for Investing in Taiwan which began in 2019 have been extended until 2024. She says the programs have already resulted in more than NT$2 trillion (~US$65 billion) in investment in Taiwan. She adds that Taiwan aims to further increase its integration with the global economy and hopes that more Taiwanese businesses which have invested abroad will continue to make investments at home.
Tsai says that two large foreign companies made their largest investments in Taiwan this year; the Dutch semiconductor firm ASML and German science and tech group Merck. She says Taiwan will continue to improve its global competitiveness.