The Ministry of Foreign Affairs yesterday announced that a Taiwan Agriculture Investment Co subsidiary has been established in Honduras, demonstrating the government’s determination to facilitate economic and trade cooperation with its allies.
According to a ministry news release, a ceremony in Honduras on Thursday to mark the subsidiary’s establishment was attended by Taiwan Agriculture Investment president Yang Shih-pei (楊世沛), who is also president of the government-funded Taiwan Premium Agricultural Products Development Institute.
Yang was in the Central American country on the second day of a seven-day visit, the ministry said.
The ceremony was also attended by Ambassador to Honduras Ingrid Hsing (邢瀛輝), Honduran Minister of Agriculture Mauricio Guevara and Honduran Minister of Economic Development Arnaldo Castillo, it said.
It marked the first time that a national-level investment company has made an overseas investment, it said.
“The move is highly valued by the governments of both nations, and demonstrates our determination to push for economic and trade cooperation with our diplomatic allies through concrete action,” it said.
Yang’s trip would benefit agricultural exchanges and experience sharing between Taiwan and Honduras, the ministry said, adding that it hopes continued concerted efforts by corporations, farmers and the governments from both sides would help bolster bilateral relations.
Taiwan Agriculture Investment was founded last year after President Tsai Ing-wen (蔡英文) in August announced during a state visit to Paraguay that the government would establish three national-level investment companies to provide diplomatic allies with technical assistance relating to industrial, agricultural and overseas infrastructure development.
A high-level government official who spoke on condition of anonymity at the time said that many of the nation’s diplomatic allies had expressed hope to see more investment from Taiwan, which the government planned to achieve using a public-private partnership model.
The move was seen as part of the Tsai administration’s effort to consolidate ties with the nation’s 17 remaining diplomatic allies after losing five to Beijing since its inauguration in May 2016.
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