The Ministry of Economic Affairs, the Taiwan External Trade Development Council (TAITRA), the American Institute in Taiwan (AIT) and the American State Offices Association yesterday jointly held the US Business Day investment forum at the Taipei International Convention Center as both sides gear up for more business opportunities together.
Deputy Minister of Economic Affairs Lin Chuan-neng (林全能) said in opening remarks that the Taiwan Strait issue has been a focus of global security, but foreign businesses still have confidence in Taiwan’s market, as companies such as Applied Materials Inc, ASML Holding NV and Merck Group continue to invest here.
“Taiwan is indeed a trustworthy partner in the global supply chain,” Lin was quoted as saying in a statement released by TAITRA.
Photo: Lin Jin-hua, Taipei Times
Taiwan and the US continue to strengthen economic and trade cooperation based on shared values, TAITRA chairman James Huang (黃志芳) said in the statement.
For example, US President Joe Biden last month signed into law a bill that approves the first agreement negotiated under the US-Taiwan Initiative on 21st-Century Trade, which is proof of the trust and cooperation between Taiwan and the US over the past decades, Huang said.
AIT Director Sandra Oudkirk was quoted as saying at the forum that bilateral investment between Taiwan and the US in the semiconductor, electric vehicle and 5G industries would help increase employment and economic growth on both sides, and boost cultural exchanges and business opportunities.
Many US states have established offices in Taiwan over the past three years, amid a closer relationship between Taiwan and the US, Oudkirk said, adding that 18 US companies, including Super Micro Computer Inc, attended the investment forum.
Last year, Taiwan was the US’ ninth-largest trading partner, while the US was Taiwan’s second-largest, as well as one of its most important sources of foreign direct investment and technological input, the TAITRA statement said.
This year, more than 200 Taiwanese businesses, including Lite-On Technolgy Corp (光寶科技), Compal Electronics Inc (仁寶電腦), Aerospace Industrial Development Corp (漢翔航空), Teco Electric and Machinery Co (東元電機) and Sinbon Electronics Co (信邦電子), attended the event to engage in one-on-one business meetings with US companies, it said.
Arizona Governor Katie Hobbs, who led a delegation to Taiwan for the forum, said in a speech at the event that her state is expecting more opportunities to cooperate with Taiwanese businesses following a spate of investment by firms in the Taiwanese semiconductor supply chain.
New Mexico Governor Michelle Lujan Grisham, who was also heading a delegation, spoke of the economic diversity of her state, with industrial investments focusing on green energy related to the hydrogen, aerospace, smart manufacturing, electric vehicle, information security and tourism sectors.
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