Taiwan looks to a free trade agreement with the US

Taiwan towards a free trade agreement with the US - Photo 1.

Taiwanese leader Thai Anh Van visits an air defense missile base on September 11, 2020 – Photo: REUTERS

According to Taiwan media, Taiwan’s diplomatic mission announced that discussions are underway in preparation for the expected visit of Mr. Keith Krach – US Deputy Foreign Minister – in charge of economic growth and quality and environment from September 17 to September 19.

According to the Nikkei Asian ReviewTaipei hopes to cooperate with Washington on semiconductors and 5G networks, and strengthen ties with the United States towards negotiations on a long-delayed bilateral free trade agreement.

The trade agreement with the US is on the agenda of Taiwanese leader Thai Anh Van. In August, Thai announced that Taiwan would loosen restrictions on US beef and pork imports from January 1, 2021, removing the biggest barrier to a trade agreement between Taiwan and Taiwan. America.

“Taiwan – US relations are at the strongest point in decades” – Ms. Thai announced, adding that “this is an ideal opportunity for the economic and commercial development of Taiwan”.

David Stiwell, the US assistant secretary of state for East Asia and Pacific Affairs, confirmed in an August 31 speech that Washington and Taipei “are setting up a new bilateral economic dialogue. “.

On the other hand, the relationship between Taiwan and China is deteriorating. The trend of Taiwanese companies moving away from China is happening. Taiwanese companies have invested nearly $ 30 billion in the island since 2019, five times their spending on mainland China.

Taiwan Semiconductor Manufacturing Co, the world’s largest chip maker, chose the US in May to locate its first production facility outside the island. Meanwhile, Taiwanese company Hon Hai Precision Industry, also known as Foxconn, began mass-producing Apple’s iPhone 11 phones in India this year.

This trend shows a drastic change in the relationship between Taiwan and China compared with a decade ago.

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