Taiwan’s representative to the United States Hsiao Bi-khim (蕭美琴) is expected to sign the U.S.-Taiwan Initiative on 21st Century Trade in a few weeks in Washington. Taiwan and the U.S. presented the first stage of the agreement on Friday.
Presidential spokesperson Lin Yu-chan (林聿禪) says President Tsai Ing-wen (蔡英文) expresses her support for Taiwan’s trade relations with the U.S. Lin adds Tsai hopes the negotiation will create more opportunities to boost Taiwan’s economy and industry.
Lin says, after the agreement has been signed, it will be the most complete trade negotiation deal since 1979 and will showcase that Taiwan has followed international standards to strengthen its global image. Lin says that there are still at least seven other areas of the deal that need to be discussed to establish an even firmer relationship.
Taiwan’s Institute of Economic Research fellow Darson Chiu (邱達生) says the agreement will allow Taiwan's exports to the U.S. to be made faster, more transparent, and cost-effective.
Taiwan’s Economic Minister Wang Mei-hua (王美花) says the agreement is a representation of warming trade relations between the U.S. and Taiwan. She adds the agreement will increase the cooperation between small to medium-sized businesses between the two sides. She says the Cabinet’s Trade Negotiations Office will be responsible for the timeline regarding the signing of the agreement.