Minister of Foreign Affairs Joseph Wu (吳釗燮) on Thursday urged support for talks on a Taiwan-US trade agreement, according to a transcript the ministry released yesterday.
The government’s announcement on Aug. 28 that it would ease restrictions on US pork and beef imports is “an important starting point for closer economic partnership between Taiwan and the US,” Wu said in a recorded speech to the Atlanta Council on International Relations.
The US is Taiwan’s second-largest trading partner, while Taiwan, with a population of just 23 million, is the US’ 10th-largest trading partner, he said.
Screen grab from the Ministry of Foreign Affairs’ Facebook page
Last year, trade volume between the nations was US$87 billion, he said.
Taiwan’s success at containing COVID-19 is admired around the world, a model that hinges on the open, democratic and free nature of Taiwanese society, he said.
US Secretary of Health and Human Services Alex Azar during his visit to Taiwan last month said that the pandemic has shown the US the strategic importance of the manufacturing sector, Wu said.
“Taiwan, with its strengths in the pharmaceutical sector, is ready and willing to be a secure and reliable supplier to the US, especially in the face of the COVID-19 pandemic,” Wu added.
The nation is looking forward to the Taiwan-US Economic and Commercial Dialogue to be led by US Undersecretary of State for Economic Growth, Energy and the Environment Keith Krach, he said.
The changed global economic order and the restructuring of global supply chains accelerated by US-China trade tensions and the pandemic make it a great time to improve the economic partnership between Taiwan and the US, with trade talks being an excellent starting point, he said.
Wu urged stakeholders to back a closer Taiwan-US trade partnership, adding that the US should recognize the “broader strategic implications that such an agreement would undoubtedly have.”
Separately, US Senator Marco Rubio sent a letter to US Secretary of State Mike Pompeo urging him to send Krach to Taiwan as soon as possible, a statement released on Thursday by Rubio’s office said.
Noting that Taiwan has lifted the “sole obstacle” to pursuing a free-trade agreement (FTA) by easing import restrictions on US pork and beef, Rubio urged Pompeo to send Krach to “demonstrate US determination to complete an FTA in a timely manner.”
Maintaining US economic influence and reducing Taiwan’s dependence on trade with the People’s Republic of China (PRC) is essential to ensuring that the Indo-Pacific region remains free and open, Rubio’s letter said.
He also said that Taiwan later this month would hold a memorial service for former president Lee Teng-hui (李登輝), adding that it would be fitting for a senior US representative to attend.
Chinese-language media firm ETtoday on Thursday reported that Krach plans to visit Taipei from Thursday to Saturday next week, and attend Lee’s funeral on the last day of his visit, although the Presidential Office, the Ministry of Foreign Affairs and the American Institute in Taiwan refrained from confirming his schedule.
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