Vice Economics Minister Cho Shih-chao is in the United States to encourage US companies to invest in Taiwan.
The economics ministry said foreign companies can make up for what’s lacking in Taiwan’s industry chain. Cho and his delegation visited ten multinational companies including Praxair Inc., G.E., and Veeco.
Meanwhile, in a seminar held by Taiwan’s representative office in New York on Monday, Cho expressed once again Taiwan’s hope to join the Trans-Pacific Partnership (TPP). Former US government officials have said they see no reason why Taiwan cannot join the TPP since it is a member of the World Trade Organization. The former officials said the only obstacle would be opposition from China. China sees Taiwan as part of its territory even though the two sides have been ruled separately for more than 60 years. China does not approve of Taiwan’s bids to join any international organizations.
Cho emphasized the important role that Taiwan plays in the Asia-Pacific supply chain. He calls for the US to support Taiwan’s bid to join the TPP. Cho said he hopes by 2020, Taiwan will have signed free trade agreements or economic cooperation agreements with 60% of world economies.