Taiwan and the US on Friday held talks on strengthening their economic relationship, and have identified the semiconductor industry as the top mutual priority in economic cooperation.
The talks, under the auspices of the new Economic Prosperity Partnership (EPP) Dialogue, were held virtually and partly in person in Washington, led on the US side by US Undersecretary of State for Economic Growth, Energy and the Environment Keith Krach, who visited Taipei in September.
Deputy Minister of Economic Affairs Chen Chern-chyi (陳正祺) led a delegation to Washington for the discussions.
Photo: CNA
In Taipei, a news conference was held at 10am yesterday at the Executive Yuan following the six-hour EPP Dialogue.
Minister Without Portfolio John Deng (鄧振中), Minister of Economic Affairs Wang Mei-hua (王美花), Minister of Foreign Affairs Joseph Wu (吳釗燮), Minister of Science and Technology Wu Tsung-tsong (吳政忠) and American Institute in Taiwan (AIT) Director Brent Christensen were among the officials who attended the new conference.
Deng said both sides have confirmed that strategic cooperation in the semiconductor industry is a priority, given its potential to generate significant and long-term benefits for both economies.
That the world’s biggest contract chipmaker, Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), is investing in the US has laid the foundation for bilateral cooperation in this field, Wang added.
The EPP Dialogue addressed areas of further cooperation, such as the US Department of State’s new Clean Network project and 5G security, semiconductors, as well as investment screening, science and technology.
Both sides agreed to established a task force that would be charged with exploring areas of cooperation on the economy. They also agreed that the Indo-Pacific region would be a focal point for their efforts in the future, and discussed points of convergence between US strategy in the region, and the aims of the government’s New Southbound Policy.
In the area of cooperation on global health, Taiwan would share its expertise in protective equipment, while the US would contribute through its prowess in medical research, vaccine research and development, and pharmaceuticals.
Both sides added that they hope to strengthen cooperation in the area of digital technology, as well as improve opportunities for business in the areas of medical care and medical products.
They also expressed plans to promote exchanges of talented people with developing countries, and create opportunities to help such countries improve their healthcare capabilities.
The two sides said they hoped to ensure the free flow of medical supplies and services worldwide, and would search for new opportunities to cooperate toward this aim.
On science and technology cooperation, they agreed to launch negotiations to draft a “science and technology agreement” to “advance joint understanding and collaboration on a broad range of science and technology topics.”
The State Department on Aug. 5 announced the 5G Clean Network program to safeguard information security, which included Taiwanese operators on a list of trusted telecommunications companies.
Both sides in the EPP Dialogue said they would discuss ways to encourage establishment of safe 5G networks.
On women’s economic empowerment, the US has been involved in initiatives in Latin America and the Caribbean in the past few years, while Taiwan has supported programs in the Indo-Pacific region through the New Southbound Policy.
The two sides expressed interest in combining efforts in both regions.
They also discussed plans to cooperate on infrastructure development in the Indo-Pacific, and have already signed the Framework to Strengthen Infrastructure Finance and Market Building Cooperation, which calls for technical exchanges and information sharing on infrastructure with countries in the region, as well as the promotion of infrastructure investments.
They agreed to cooperate on investment screening through the Ministry of Economic Affairs and the Committee on Foreign Investment in the US.
Deng said the EPP Dialogue did not touch on issues related to a possible bilateral trade agreement (BTA).
A BTA, which has received much attention particularly after the government decided to ease restrictions on US pork containing the leanness-enhancing additive ractopamine in an attempt to pave the way for an eventual trade deal with the US, would be discussed through the Trade and Investment Framework Agreement platform, Deng said.
“The US-Taiwan economic dialogue signifies that not only is the United States-Taiwan economic relationship strong, but it continues to deepen and grow,” Christensen told the news conference.
The State Department said coming talks would help bolster the US-Taiwan economic ties and “our shared commitment to free markets, entrepreneurship and freedom.”
The dialogue, which Taiwan hopes would eventually lead to a free-trade agreement, is part of increased US engagement with Taipei under the administration of US President Donald Trump.
US trade with Taiwan totaled an estimated US$103.9 billion last year, according to the latest figures from the US Trade Representative’s office.
The EPP Dialogue also generated a memorandum of understanding (MOU), signed between the AIT and the Taipei Economic and Cultural
Representative Office in the US.
The office in a statement said the two sides signed the MOU to establish an “institutionalized dialogue mechanism.”
BLUE WAVE: The KMT’s Chiang Wan-an defeated the DPP’s Chen Shih-chung and is to become Taipei mayor, while President Tsai Ing-wen stepped down as DPP chairperson after many of the party’s candidates, handpicked by the leadership, performed poorly The Chinese Nationalist Party (KMT) yesterday flipped key mayoral seats in Taipei, Taoyuan and Keelung, and won control of 13 out of 22 cities and counties in the nine-in-one local elections. President Tsai Ing-wen (蔡英文) last night resigned as Democratic Progressive Party (DPP) chairperson over a poor showing by the party’s candidates, who were handpicked by the DPP leadership rather than chosen through primaries. The Taiwan People’s Party (TPP) won its first high-profile race with Hsinchu mayoral candidate Ann Kao (高虹安) defeating Shen Hui-hung (沈慧虹) of the DPP with 45.02 percent of the vote to Shen’s 35.68 percent. Voters were choosing more than
CAUTION: Wearing a mask in crowded places and for people with chronic illnesses or allergies can help prevent COVID-19 and other infectious diseases, the CECC said The mask mandate for outdoor settings is to lifted on Thursday, and the weekly cap on international inbound travelers is to be removed on Dec. 10, the Central Epidemic Command Center (CECC) said at its regular news conference yesterday. The center also announced that starting from Friday, children aged five to 11 can receive a COVID-19 vaccine booster, and that rules for visiting hospital patients are to be partially eased from Dec. 10. While wearing a mask will no longer be mandatory outdoors, Deputy Minister of Health and Welfare Victor Wang (王必勝) reminded the public that it would still be required
ANALYSIS: The local elections showed that the KMT is a competitive player, but needs to work at changing its image regarding China, experts said The nine-in-one local election results would bolster the Chinese Nationalist Party (KMT), but are unlikely to have a major effect on the 2024 presidential election, when cross-strait issues are back in focus, political commentators said. In Saturday’s elections, the KMT won 13 of the 21 cities and counties up for grabs, including four of the country’s six biggest metropolitan areas, where nearly 70 percent of the population lives. The Democratic Progressive Party (DPP) lost three of the seven cities and counties it held, although it gained Penghu County. Its poor results prompted President Tsai Ing-wen (蔡英文) to announce her resignation as party
DEPARTMENT OF DEFENSE: China might impose a blockade, conduct limited force operations, use an air and missile campaign, or resort to an invasion, the report said The US Department of Defense has identified four possible military courses of action that China could take against Taiwan, but did not offer any guess on when Beijing might be ready to act. In an annual report to the US Congress released on Tuesday titled Military and Security Developments Involving the People’s Republic of China 2022, the department gave a broad overview of China’s military capabilities, strategy, ambitions and intentions. The report devoted significant space to developments related to Taiwan, against which it said China had intensified diplomatic, economic, political and military pressure last year. For example, the Chinese People’s Liberation Army (PLA)
RSS