Hopes that Taiwan could sign a free-trade agreement (FTA) with the US could dim after the US elects a new senate and president in November, but the two sides could still explore cooperation opportunities in the energy market, the head of the most powerful business group involved in Taiwan trade said yesterday.
Paul Wolfowitz, who took the helm of the US-Taiwan Business Council in May, told a luncheon in Taipei that he supported stronger ties between the two sides, but expressed doubt there would be progress in the FTA talks after the general elections in the US.
“There isn’t much progress about the matter and the picture may turn bleaker as the next congress is likely to be less sympathetic,” said Wolfowitz, former deputy secretary of defense in the George W. Bush administration.
The US will elect a new president and congress members in November, with pundits predicting that the ruling Republican Party will lose seats in congress.
Wolfowitz said he saw opportunities for bilateral cooperation in exploring the energy market.
The two sides could join forces and explore the solar energy sector, which will become critical over the coming years, he said.
He said he admired the new Taiwanese government for improving cross-strait ties and expressed hope that investment deregulation would be extended to the technology sector.
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