A Taiwanese agricultural trade mission yesterday signed three letters of intent with US agricultural industry associations to purchase more than US$10 billion of US farm products over the next four years.
Taiwan imported more than US$3.7 billion in US agricultural products last year, including US$1.9 billion in soybeans, corn, wheat and beef, Minister of Agriculture Chen Junne-jih (陳駿季) said at the signing ceremony on Capitol Hill in Washington.
Taiwan's biennial “agricultural trade goodwill mission” has historically pledged about US$1.9 billion in purchases annually, but this year, the amount rose 25 percent to US$2.5 billion, he said.
Photo: CNA
"Today, we are taking our partnership to the next level. We are proud to sign letters of intent and announce our commitment to purchase more than US$10 billion in soybeans, corn, wheat and beef over the next four years," he said.
"This is a true win-win relationship: Taiwanese consumers enjoy the best of American products, while US farmers and exporters also benefit from a stable market," Chen said.
At the ceremony, Representative to the US Alexander Yui (俞大㵢) said that the relationship between Taiwan and Washington is not only about feeding Taiwanese, but also about security.
"We need to have a strategic supply for rainy days, because of what's happening in the Taiwan Strait," he said. "Buying from a friend makes all the sense in the world — not only food, but also energy and other defense-related equipment."
After the ceremony, the delegation, which is made up of major Taiwanese food companies and agricultural groups, would split into three teams to visit eight US States, Chen said.
The soybean and corn group would tour Arkansas, Ohio and Indiana; the wheat group would travel to South Dakota, Montana and Idaho; and the beef group would head to Florida and Texas. Each would meet with local politicians, farmers' associations and exporters to explore further cooperation.
This year marks the 15th agricultural trade goodwill mission since 1998. The biennial missions are part of Taiwan's efforts to balance trade with the US, as well as to ease trade frictions and prevent tariff increases on Taiwanese exports, Minister of Foreign Affairs Lin Chia-lung (林佳龍) said in March.
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