President Tsai Ing-wen said Oct. 20 that Taiwan is committed to deepening bilateral partnership with the U.S. state of New Jersey to build stable and secure global supply chains.
Tsai made the remarks while meeting with a delegation led by New Jersey Governor Phil Murphy at the Presidential Office in Taipei City.
New Jersey has been targeted by Taiwan companies for investment and expansion because it is a hub of biotechnology and telecommunications technology, as well as a gateway to the East Coast market, Tsai said. She welcomed the upcoming establishment of the state’s Asia-Pacific economic cooperation office in Taiwan, adding that the move will help elevate the two sides’ trade relations.
New Jersey’s infrastructure and economic innovation policies are in line with Taiwan’s five-plus-two innovative industries plan and six core strategic industries initiative, the president said. The government additionally anticipates expanding collaboration with the northeastern state in areas spanning green energy, health care and information and communications technology, she added.
Tsai also took the opportunity to thank the U.S. House of Representatives and New Jersey’s Senate and General Assembly for passing resolutions supporting Taiwan’s international participation and cooperation with global democracies earlier this year.
In response, Murphy said Taiwan and New Jersey are close both socially and economically. This is evidenced by its fourth-largest Taiwanese population of any state and the over US$4 billion per year generated by mutually beneficial trade, he added.
According to Murphy, the launch of the first-ever Asia-Pacific office in Taiwan will take the two-way relationship to new heights and create new opportunities for workers and families from both sides. It will serve as the state’s base for the entirety of Asia, he said, pledging to also work with Taiwan to preserve a free and open Indo-Pacific.
The five-plus-two plan, unveiled in 2016, targets the high-growth sectors of biotech, green energy, national defense, smart machinery and Internet of Things while promoting the circular economy and a new paradigm for agricultural development. Launched four years later, the six core strategic industries initiative involves digital and information technology, cybersecurity, medical technology and precision medicine, national defense, green and renewable energy, and strategic stockpile industries. (YCH-E)
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