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.”
CHAOS: Iranians took to the streets playing celebratory music after reports of Khamenei’s death on Saturday, while mourners also gathered in Tehran yesterday Iranian Supreme Leader Ayatollah Ali Khamenei was killed in a major attack on Iran launched by Israel and the US, throwing the future of the Islamic republic into doubt and raising the risk of regional instability. Iranian state television and the state-run IRNA news agency announced the 86-year-old’s death early yesterday. US President Donald Trump said it gave Iranians their “greatest chance” to “take back” their country. The announcements came after a joint US and Israeli aerial bombardment that targeted Iranian military and governmental sites. Trump said the “heavy and pinpoint bombing” would continue through the week or as long
TRUST: The KMT said it respected the US’ timing and considerations, and hoped it would continue to honor its commitments to helping Taiwan bolster its defenses and deterrence US President Donald Trump is delaying a multibillion-dollar arms sale to Taiwan to ensure his visit to Beijing is successful, a New York Times report said. The weapons sales package has stalled in the US Department of State, the report said, citing US officials it did not identify. The White House has told agencies not to push forward ahead of Trump’s meeting with Chinese President Xi Jinping (習近平), it said. The two last month held a phone call to discuss trade and geopolitical flashpoints ahead of the summit. Xi raised the Taiwan issue and urged the US to handle arms sales to
A magnitude 5.6 earthquake struck off the coast of Yilan County at 12:37pm today, with clear shaking felt across much of northern Taiwan. There were no immediate reports of damage. The epicenter of the quake was 16.9km east-southeast of Yilan County Hall offshore at a depth of 66.8km, Central Weather Administration (CWA) data showed. The maximum intensity registered at a 4 in Yilan County’s Nanao Township (南澳) on Taiwan’s seven-tier scale. Other parts of Yilan, as well as certain areas of Hualien County, Taipei, New Taipei City, Taoyuan, Hsinchu County, Taichung and Miaoli County, recorded intensities of 3. Residents of Yilan County and Taipei received
Taiwan has secured another breakthrough in fruit exports, with jujubes, dragon fruit and lychees approved for shipment to the EU, the Ministry of Agriculture said yesterday. The Animal and Plant Health Inspection Agency on Thursday received formal notification of the approval from the EU, the ministry said, adding that the decision was expected to expand Taiwanese fruit producers’ access to high-end European markets. Taiwan exported 126 tonnes of lychees last year, valued at US$1.48 million, with Japan accounting for 102 tonnes. Other export destinations included New Zealand, Hong Kong, the US and Australia, ministry data showed. Jujube exports totaled 103 tonnes, valued at
RSS