Deputy Foreign Minister Roy Chun Lee (李淳) says he hopes more countries will follow the United States in considering trade agreements with Taiwan. Taiwan and the U.S. signed the first part of the trade deal known as the U.S.-Taiwan 21st Century Trade Initiative on June 1st.
Lee made the comments during a radio interview with Clara Chou (周玉蔻) on Thursday. Lee addressed criticisms of the recent trade agreement that his ministry helped deliver, including that it does not address tariff reduction or beef imports. Lee says given Taiwan’s constant marginalization on the international trade stage, the agreement creates more opportunities for trade negotiations with other countries in the future.
Lee adds that the deal is a major achievement, and notes that previously Taiwan could only negotiate trade-related issues under the Trade and Investment Framework Agreement (TIFA). He says under TIFA, the parties could only discuss trade mechanisms in a limited capacity, but the new deal creates committees that meet once per year.
Lee says he believes that the U.S. can replace China as Taiwan’s largest export destination. He adds that the next step will be to address the issue of double taxation for Taiwanese businesses in the U.S.