Taiwan and Tennessee have signed a memorandum of understanding (MOU) on economic and trade cooperation that would further the bilateral partnership in areas from electric cars to renewable energy, the Presidential Office said yesterday.
Tennessee Governor Bill Lee, who was in Taiwan on Monday and Tuesday, also announced plans to set up a foreign direct investment office in Taiwan to better understand the needs of Taiwanese businesses seeking to invest in the US, the office said in a statement.
President William Lai (賴清德) on Tuesday afternoon met with Lee and his delegation at the Presidential Office in Taipei a day after Minister of Foreign Affairs Lin Chia-lung (林佳龍) welcomed the 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 said.
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 expanding operations, Lai said.
Lai thanked Lee for his long-standing 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 boost cooperation in fields including high-tech sectors, electric vehicles, renewable energy, innovation, and research and development, not only expanding industry, but further solidifying Taiwan-US 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 statement.
The state operates five foreign direct investment offices across Europe and Asia, it said.
Tennessee’s first such office in Taiwan would mark the state’s sixth international office, it said.
Twenty-four US states and territories have representative offices in Taiwan.
Additional reporting by CNA
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