Taiwan and the US will hold their next round of talks under the bilateral Trade and Investment Framework Agreement (TIFA) on Friday in Washington, the government announced yesterday.
The talks will be headed by Vice Minister of Economic Affairs Cho Shih-chao (卓士昭) and US Acting Deputy Trade Representative Wendy Cutler, the Ministry of Foreign Affairs (MOFA) and the Ministry of Economic Affairs (MOEA) said.
Both ministries described the TIFA talks as an important forum at which officials from the two countries can discuss trade and economic issues.
Officials from the Council of Agriculture, Financial Supervisory Commission, Ministry of Health and Welfare, MOFA and MOEA are to participate in the upcoming talks.
Taiwan’s officials will seek to demonstrate to the US all the efforts the government has made in the area of trade liberalization to seek US support for Taiwan’s participation in the proposed Trans-Pacific Partnership (TPP) trade bloc, the MOEA said.
The talks were resumed in March last year after a suspension of more than five years that was due largely to a dispute over US beef exports to Taiwan. The resumption of talks followed Taiwan’s lifting of a ban on certain US beef products.
Important progress was made in the previous TIFA meeting, including the establishment of an investment working group to discuss issues related to a possible bilateral investment agreement, officials said.
The US is Taiwan’s third-largest trade partner after China and Japan, and its biggest foreign investor.
By contrast, Taiwan is the 12th-largest trade partner of the US and the second-largest market on a per capita basis for US agricultural exports.
The continuing TIFA talks can inject new momentum into and further consolidate the substantial relationship between the two countries, the MOEA said.