The Ministry of Economic Affairs yesterday signed memorandums of understanding (MOU) to deepen bilateral trade cooperation with Arizona and New Mexico during a virtual ceremony at the opening of the 10th US Business Day in Taipei.
The annual event is hosted by the ministry and the Taiwan External Trade Development Council (TAITRA, 外貿協會), with this year’s being held at the Taipei International Convention Center yesterday and today.
Taiwan-US business cooperation and partnerships are at their best right now, TAITRA said in a statement.
Photo: Lin Jin-hua, Taipei Times
Seminars and symposiums are being held at the event under the Taiwan-US Trade Forum, a platform designed for Taiwan to create new trade strategies for US markets and for the US to promote information regarding business opportunities from infrastructure projects in US states, TAITRA said.
Cynthia Kiang (江文若), director-general of the ministry’s Bureau of Foreign Trade, and Brent Omdahl, the commercial section chief of the American Institute in Taiwan, attended the opening ceremony, as did US Department of Commerce Acting Deputy Assistant Secretary for Asia Richard Steffens via videoconference.
Kiang signed MOUs with the Arizona Commerce Authority and the New Mexico Economic Development Department to deepen bilateral economic and trade cooperation in the semiconductor and information communication technology industries.
Despite the enormous economic damage caused by the COVID-19 pandemic over the past year, trade ties between Taiwan and the US remained tight, Kiang said.
The resilience is shown by the data, with Taiwan-US trade exceeding US$83 billion last year, while both countries have increased bilateral investment, she said.
For instance, US tech companies such as Alphabet Inc’s Google and Microsoft Corp have increased investments in Taiwan, while contract chipmaker Taiwan Semiconductor Manufacturing Co (台積電) and electronics contract manufacturer Hon Hai Precision Industry Co (鴻海精密) have expanded their investments in the US, Kiang said.
TAITRA Chairman James Huang (黃志芳) said that this year’s forum is focused on topics related to 5G, clean energy, supply chains and electric vehicles, with the aim of improving business and trade ties between the two countries.
In the hours after the event started yesterday morning, more than 20 US-based buyers had specified purchasing needs for products including information communication devices, machinery, metal fasteners, auto parts and components, and bicycle parts, TAITRA said.
CLIENTS’ RIGHTS: Banking Bureau Deputy Director-General Lin Chih-chi said the buyer and Citibank Taiwan would need to disclose changes to branch operations DBS Bank Taiwan (星展台灣), the local unit of Singapore-based DBS Group Holdings Ltd, has reportedly won a bid to acquire Citibank Taiwan Ltd’s (花旗台灣) consumer banking business, but the two companies declined to confirm the report yesterday. Citibank Taiwan’s consumer banking business is to be sold for about NT$60 billion (US$2.17 billion) to DBS Taiwan, the Chinese-language Economic Daily News reported on Sunday. DBS Taiwan and its parent company are expediting the negotiations with the seller’s US-based parent company, while other local bidders, including Fubon Financial Holding Co (富邦金控) and Cathay Financial Holding Co (國泰金控), have dropped their bids, the report said. Citibank
‘BULLISH YEAR AHEAD’: The contract chipmaker set a growth target of up to 29 percent, as it expects to outperform its peers in the semiconductor industry Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is planning to boost this year’s capital expenditure budget by about 46 percent to exceed US$44 billion, citing strong customer demand for advanced technologies used in high-performance computing (HPC) and 5G-related applications, the world’s largest contract chipmaker said yesterday. The plan marks a record spending for TSMC after the chipmaker budgeted US$30 billion for capacity expansions at home and overseas fabs last year. TSMC is planning to allocate about 80 percent of this year’s capital spending for advanced chip capacity expansion including 2-nanometer, 3-nanometer, 5-nanometer and 7-nanometer technologies. The chipmaker reiterated that it is on
Intel Corp yesterday said it has placed its first order with ASML Holding NV to purchase the semiconductor industry’s first TWINSCAN EXE: 5200 system, as the US chip giant aims to compete with Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) in advancing to 2-nanometer process technology. The Dutch semiconductor equipment maker’s TWINSCAN EXE:5200 system is an extreme ultraviolet (EUV) high-volume production system with a high numerical aperture (NA) that can produce 220 wafers per hour, more than the 150 wafers that its previous generation TWINSCAN EXE:5000 system can handle. ASML aims to launch the new system in 2024. ASML president and chief
Siltronic AG cast doubt on a planned US$5.3 billion takeover by GlobalWafers Co (環球晶圓), saying the German Ministry of Economic Affairs and Climate Action’s feedback so far was opaque and offered no clear resolution on how to win approval for the deal. During recent discussions, the companies did not receive any information as to whether and under which conditions a clearance for the takeover might be issued, the German company said in a regulatory filing on Friday following a news report on remedies the companies have offered. In the ministry’s view “in this case, a mitigation agreement is apparently not suitable