Taiwan and the US yesterday reached consensus on trade principles for the information and communication technology (ICT) service sector as well as international investments in the seventh Taiwan-US Trade and Investment Framework Agreement (TIFA) meeting.
Vice Minister of Economic Affairs Bill Cho (卓士昭) and Deputy US Trade Representative Demetrios Marantis told a press conference that the two sides agreed to cooperate to enhance domestic regulatory capacity and support the expansion of ICT networks and services.
Under the joint statement on trade principles for the ICT service sector, Taiwan and the US agreed to share information and experience with each other on legislation, regulations and programs in areas relevant to promoting the ICT service sector.
Photo: Wang Min-wei, Taipei Times
A consensus was also reached on “political commitments” to ensure sustained bilateral trade and investment, with the two governments agreeing to create an open and non-discriminatory investment climate, and supporting a fair market in which state-run enterprises will not enjoy preferential treatment.
Cho said the principles for international investments are expected to enhance bilateral trade ties, create jobs, enhance economic growth and intensify promotion of a “Taiwan-US Investment Agreement.”
Marantis said the US recognized Taiwan has a strong interest in signing a free-trade agreement (FTA) with the US and joining the Trans-Pacific Partnership (TPP), a proposed free-trade agreement aimed at liberalizing economies in the Asia-Pacific region and fostering international trade.
Taiwan cannot be “invited” unilaterally by the US to join the TPP, but must prove it can meet obligations affecting the interests of 12 current member economies including the US, he said.
Marantis also said the US had raised the issue of importing more US meat products to Taiwan, but did not win support from Taiwan’s representatives, because of the Taiwanese government and its citizens’ concerns that US meat products may contain residues of the livestock feed additive ractopamine.
“We understand this is a longstanding concern of Taiwanese, but we will continue promoting the trade of US meat products and proving the quality of our product is consistent with international standards,” he said.
The US representative avoided specifying that he was referring to pork, and talked about “meat products” throughout. Cho did not comment on the issue.
The two sides have agreed to schedule the eighth round of TIFA talks next year in Washington, Marantis said, adding that the US expects future talks to be an annual event.
The Ministry of Economic Affairs will establish two sections for talks under TIFA to negotiate with the US about solutions to technical barriers to trade and bilateral investment, Cho said.
He added that the government would seek further assistance from the US on access to the TPP and would liberalize laws and regulations to try to meet its requirements.
The Central Weather Administration (CWA) yesterday said it expected to issue a sea warning for Typhoon Fung-Wong tomorrow, which it said would possibly make landfall near central Taiwan. As of 2am yesterday, Fung-Wong was about 1,760km southeast of Oluanpi (鵝鑾鼻), Taiwan’s southernmost point, moving west-northwest at 26kph. It is forecast to reach Luzon in the northern Philippines by tomorrow, the CWA said. After entering the South China Sea, Typhoon Fung-Wong is likely to turn northward toward Taiwan, CWA forecaster Chang Chun-yao (張峻堯) said, adding that it would likely make landfall near central Taiwan. The CWA expects to issue a land
Taiwan’s exports soared to an all-time high of US$61.8 billion last month, surging 49.7 percent from a year earlier, as the global frenzy for artificial intelligence (AI) applications and new consumer electronics powered shipments of high-tech goods, the Ministry of Finance said yesterday. It was the first time exports had exceeded the US$60 billion mark, fueled by the global boom in AI development that has significantly boosted Taiwanese companies across the international supply chain, Department of Statistics Director-General Beatrice Tsai (蔡美娜) told a media briefing. “There is a consensus among major AI players that the upcycle is still in its early stage,”
The Central Weather Administration (CWA) yesterday said it is expected to issue a sea warning for Typhoon Fung-wong this afternoon and a land warning tomorrow. As of 1pm, the storm was about 1,070km southeast of Oluanpi (鵝鑾鼻), Taiwan’s southernmost point, and was moving west-northwest at 28 to 32kph, according to CWA data. The storm had a radius of 250km, with maximum sustained winds of 173kph and gusts reaching 209kph, the CWA added. The storm is forecast to pass near Luzon in the Philippines before entering the South China Sea and potentially turning northward toward Taiwan, the CWA said. CWA forecaster Chang Chun-yao (張峻堯) said
Japanese Prime Minister Sanae Takaichi yesterday said that China using armed force against Taiwan could constitute a "survival-threatening situation" for Japan, allowing the country to mobilize the Japanese armed forces under its security laws. Takaichi made the remarks during a parliamentary session while responding to a question about whether a "Taiwan contingency" involving a Chinese naval blockade would qualify as a "survival-threatening situation" for Japan, according to a report by Japan’s Asahi Shimbun. "If warships are used and other armed actions are involved, I believe this could constitute a survival-threatening situation," Takaichi was quoted as saying in the report. Under Japan’s security legislation,
RSS