Taiwan and the US are to collaborate on infrastructure funding in Asia and Latin America, which would boost Taiwan’s clout in the international community, Minister of Finance Su Jain-rong (蘇建榮) said yesterday.
The Framework to Strengthen Infrastructure, Finance and Market Cooperation, alongside the New Southbound Policy and the US’ Indo-Pacific strategy, would allow Taiwan to initiate dialogue with more friendly countries in the region, while allowing Taiwanese firms to branch out into regional debt markets, Su said.
The Ministry of Economic Affairs, the Ministry of Finance, the Ministry of Transportation and Communications, and the Financial Supervisory Commission would be in charge of four task forces with direct access to the US, he said.
Photo: Liao Chen-huei, Taipei Times
Taiwan has extensive business interactions with Southeast Asian countries such as Vietnam and Thailand, and nine of the remaining 15 countries that officially recognize its government are in Latin America or the Caribbean.
Su said that a memorandum of understanding — signed on Sept. 17 — for the framework was a “new model to deepen ties.”
As stipulated by the framework, the Ministry of Finance and the US Department of the Treasury are to establish the task forces to facilitate collaborative projects for infrastructure — government and private — via investment.
American Institute in Taiwan Director Brent Christensen said that experts would meet this fall to discuss how to promote the restructuring of regional supply chains.
US clients have been a driving force in the relocation of supply chains composed of Taiwanese-owned technology and household appliance businesses back to Taiwan from China, Christensen said.
Minister of Foreign Affairs Joseph Wu (吳釗燮) said that the framework has symbolically taken Taiwan-US relations to another level.
Both sides would continue to explore possible avenues of collaboration, Wu said.
National Development Council (NDC) Minister Kung Ming-hsin (龔明鑫) said that the framework’s signing shows that Taiwan is more capable and confident of making contributions in the international community and that the nation would strive to make the most of its contributions in regional construction efforts.
Presidential Office spokesman Xavier Chang (張惇涵) said that the framework, on top of a delegation headed by US Undersecretary of State for Economic Growth, Energy and the Environment Keith Krach that visited Taiwan from Sept. 17 to 20, showed that the Taiwan-US relationship was advancing to another level.
Whether it is for national development or to fulfill Taiwan’s obligations as a member of the international community, the nation must have more significant participation in global affairs, Chang said, adding that this includes ongoing collaborations with the US in the Indo-Pacific region.
Chang attributed the framework and Krach’s visit to the government’s diplomacy strategy, adding that the government was moving forward one step at a time.
Taiwan would continue to deepen collaborations with the US on all fronts and industries, and attempt to create mutually beneficial scenarios, Chang said.
Tropical Storm Gaemi strengthened into a typhoon at 2pm yesterday, and could make landfall in Yilan County tomorrow, the Central Weather Administration (CWA) said yesterday. The agency was scheduled to issue a sea warning at 11:30pm yesterday, and could issue a land warning later today. Gaemi was moving north-northwest at 4kph, carrying maximum sustained winds near its center of up to 118.8kph and gusts of 154.8kph. The circumference is forecast to reach eastern Taiwan tomorrow morning, with the center making landfall in Yilan County later that night before departing from the north coast, CWA weather forecaster Kuan Shin-ping (官欣平) said yesterday. Uncertainty remains and
SEA WARNING LIKELY: The storm, named Gaemi, could become a moderate typhoon on Wednesday or Thursday, with the Taipei City Government preparing for flooding A tropical depression east of the Philippines developed into a tropical storm named Gaemi at 2pm yesterday, and was moving toward eastern Taiwan, the Central Weather Administration (CWA) said. Gaemi could begin to affect Taiwan proper on Tuesday, lasting until Friday, and could develop into a moderate typhoon on Wednesday or Thursday, it said. A sea warning for Gaemi could be issued as early as Tuesday morning, it added. Gaemi, the third tropical storm in the Pacific Ocean this typhoon season, is projected to begin moving northwest today, and be closest to Taiwan on Wednesday or Thursday, the agency said. Today, there would likely
DISRUPTIONS: The high-speed rail is to operate as normal, while several airlines either canceled flights or announced early departures or late arrivals Schools and offices in 15 cities and counties are to be closed today due to Typhoon Gaemi, local governments announced last night. The 15 are: Taipei, New Taipei City, Taoyuan, Tainan, Keelung, Hsinchu and Kaohsiung, as well as Yilan, Hualien, Hsinchu, Miaoli, Chiayi, Pingtung, Penghu and Lienchiang counties. People should brace for torrential rainfall brought by the storm, with its center forecast to make landfall on the east coast between tonight and tomorrow morning, the Central Weather Administration (CWA) said. The agency issued a sea warning for the typhoon at 11:30pm on Monday, followed by a land warning at 11:30am yesterday. As of
CASUALTY: A 70-year-old woman was killed by a falling tree in Kaohsiung as the premier warned all government agencies to remain on high alert for the next 24 hours Schools and offices nationwide are to be closed for a second day today as Typhoon Gaemi crosses over the nation, bringing torrential rain and whipping winds. Gaemi was forecast to make landfall late last night. From Tuesday night, its outer band brought substantial rainfall and strong winds to the nation. As of 6:15pm last night, the typhoon’s center was 20km southeast of Hualien County, Central Weather Administration (CWA) data showed. It was moving at 19kph and had a radius of 250km. As of 3pm yesterday, one woman had died, while 58 people were injured, the Central Emergency Operation Center said. The 70-year-old