Mon, Oct 10, 2011 - Page 12 News List

Delegation seals 22 trade deals to buy US grain

Staff Writer, with CNA

An agricultural product procurement delegation from Taiwan signed a total of 22 trade deals during its two-week visit to the US to purchase grain that the nation is unable to grow in bulk, the Ministry of Foreign Affairs said in a statement released on Friday.

The purchases amount to 13.7 million tonnes of grain, including corn, soybean and wheat, the total value of which was US$5 billion, according to the statement.

The purchases will be made over the next two years.

The trade delegation, comprising 24 representatives from agricultural industry associations and related companies, was the eighth of its kind to visit the US since 1998, promoting bilateral cooperation in the agricultural sector. It visited the US from Sept. 19 to Monday last week.

This year’s delegation set many new records, including being the largest group of its kind to visit the US. The number of US states it had visited during the two-week tour was also a record at 11, as was the number of trade deals signed, the statement said.

The volume of grain the delegation committed to purchasing was also the largest ever, it added.

Taiwan is the sixth-largest consumer of US agricultural products, the fifth-largest market for US corn and soybean exports, and the -seventh-largest market for US wheat exports, according to the ministry, which describes agricultural trade relations between the two countries as close.

The US is Taiwan’s third--largest trading partner after China and Japan.

This story has been viewed 2777 times.

Comments will be moderated. Keep comments relevant to the article. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned. Final decision will be at the discretion of the Taipei Times.

TOP top