Taiwan is committed to forging a closer economic relationship with the U.S. through the negotiation of a bilateral trade agreement, as the like-minded partners look for new ways to cooperate post-pandemic, Foreign Minister Jaushieh Joseph Wu said Sept. 10.
The decision to relax restrictions on U.S. beef and pork imports demonstrates the government’s commitment to addressing outstanding issues and moving toward an agreement, Wu said. Not only is it a significant economic development, but it also sets an example for other countries throughout the Indo-Pacific, he added.
Wu made the remarks in a speech titled “Toward a Better, Stronger Economic Partnership between Taiwan and the U.S.” delivered during a webinar hosted by U.S.-based think tank Atlanta Council on International Relations.
According to Wu, Taiwan plays a crucial role in global supply chains and has close ties with the U.S., as evidenced by increasing bilateral trade and investment between the two sides over the past three years.
While COVID-19 has brought much of the world’s economy to a standstill, Wu said business continues as usual in Taiwan thanks to far-sighted government planning backed by the tireless efforts of the country’s front-line health workers.
According to Wu, Taiwan’s successful epidemic response is built on its democratic and free society backed by the Taiwan Model, which has gained recognition from U.S. Secretary of State Mike Pompeo as a paradigm of openness and generosity.
It is hoped that the recently announced high-level economic and commercial dialogue to be led by U.S. Under Secretary of State for Economic Growth, Energy and the Environment Keith Krach will solidify mutually beneficial ties between the two sides, Wu said.
Although 2020 has been a year of challenges, it has also opened up new opportunities, Wu said, adding the time is right to strengthen Taiwan-U.S. economic relations across the board through the signing of a trade agreement. (SFC-E)
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