Tennessee and Taiwan have signed a memorandum of understanding (MOU) on economic and trade cooperation that would further the bilateral partnership in fields from electric cars to renewable energy, the Presidential Office said today in a news release.
Tennessee Governor Bill Lee, who visited Taiwan from Monday to yesterday, also announced plans to build a foreign direct investment office in Taiwan to better understand the needs of Taiwanese businesses seeking to invest in the US, it said.
President William Lai (賴清德) yesterday afternoon received Lee and his delegation at the Presidential Office in Taipei, a day after Minister of Foreign Affairs Lin Chia-lung (林佳龍) welcomed Lee and his delegation.
Photo courtesy of the Presidential Office
Tennessee formally recognizes Taiwan’s importance as a strategic partner to the international community, Lee told the president.
It is known worldwide that Taiwan is an indispensable partner to the US and that its economy and industry have shown positive growth with great potential for cooperation, he added.
Taiwan has long proven itself a reliable partner to the US, and views Tennessee as an important global hub, having already built artificial intelligence server manufacturing facilities in the state, which are continuing to expand operations, Lai said.
Lai further thanked Lee for his longstanding support for Taiwan’s participation in international organizations, having signed resolutions in support of Taiwan for five consecutive years.
The MOU would enable the two sides to further cooperate in fields including high-tech sectors, electric cars, renewable energy, innovation, and research and development, not only expanding industry, but further solidifying US-Taiwan relations, he said.
Taiwan is Tennessee's 18th-largest export market and seventh-largest source of imports, the Ministry of Foreign Affairs said.
Lee and his delegation are in Asia to visit Taiwan, South Korea and Japan on a “strategic international recruiting trip,” the Tennessee State Government said in a news release.
The state currently operates five foreign direct investment offices across Europe and Asia.
Tennessee's first such office in Taiwan would mark the state's sixth international office, the release said.
Currently, 24 US states and territories have representative offices in Taiwan.
Additional reporting by CNA
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