Premier Cho Jung-tai received a delegation from the U.S.-Taiwan Business Council Jan. 7 in Taipei City, expressing anticipation of continued growth of the robust partnership with Washington under the new administration.
Cho welcomed the second visit in six months by members of the Arlington-based entity and applauded their dedication to promoting bilateral business exchanges. The group included representatives from sectors spanning academia, finance, medical care, national defense and semiconductors, reflecting the diverse nature of the Taiwan-U.S. partnership, he added.
According to Cho, the local economy averaged an annual growth rate of 3.2 percent between 2016 and 2023 despite the pandemic and geopolitical tension, with the 2024 figure estimated at 4.27 percent. To maintain fundamental strength in Taiwan’s economy, Cho said the government has proposed a raft of major projects to balance national development, bolster investment from home and abroad, fast track infrastructure development and promote personnel cultivation.
The premier welcomed the first agreement under the Taiwan-U.S. Initiative on 21st Century Trade that went into effect Dec. 10 of last year. He expected to see negotiations on the second pact start imminently and anticipated that the countries would deepen ties through the Economic Prosperity Partnership Dialogue and Technology Trade and Investment Collaboration framework.
Cho also thanked the U.S. executive and legislative branches for working toward resolution of double taxation issues and promotion of bilateral trade; and the U.S. Department of Defense for issuing the U.S. National Defense Industrial Strategy last year that included Taiwan as a member of its “friend-shoring” global network.
In response, USTBC President Rupert Hammond-Chambers said as the U.S. accounts for 30 percent of Taiwan’s foreign investment, a bilateral double taxation avoidance agreement will help further promote two-way investment. The USTBC will continue engagement with Taiwan under the administration of President-elect Donald J. Trump, he added.
Vice President Hsiao Bi-khim received the delegation at the Presidential Office the same day to thank the group for supporting expanded Taiwan-U.S. relations. Hsiao looked forward to enhancing bilateral cooperation in business, economy and security issues to ensure peace, stability and prosperity in the Indo-Pacific. (SFC-E)
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