• Directory of Taiwan

Taiwan signs accords to buy soybean, corn from Illinois, Iowa

Taiwan signs accords to buy soybean, corn from Illinois, Iowa

Taipei, Sept 19 (CNA) An agricultural delegation from Taiwan has signed letters of intent with the representatives from the governments of Illinois and Iowa to purchase soybean and corn from the two U.S states. Wang Cheng-teng (???), former deputy minister of Taiwan's Council of Agriculture, who led the delegation to the U.S., said that Taiwan is one of the important importers of U.S. agricultural products and both sides have forged closer economic ties through years of exchanges. With the signing of the agreements to buy the products from the U.S., Wang said that he hoped Taipei and Washington will continue to strengthen their bilateral economic relationship, while continuing exchanges on agricultural and cultural development. He said that with such close ties, Taiwan hopes the U.S. will support Taiwan's bid to be included in the proposed Trans-Pacific Partnership (TPP) trade agreement. In the purchase agreement signing ceremony with Illinois held earlier this week, the state's Governor Bruce Rauner expressed gratitude to Taiwan for the purchases. "Agriculture helps our state secure a strong position in the global economy. We look forward to a long, continued relationship with our friends from Taiwan so that together we can help feed the world," Rauner said in a statement released by the state. In the agreement signing ceremony in Iowa, Deputy Governor Kim Reynolds said that Taiwan is an important buyers of Iowa's agricultural products and through the purchases, both sides are expected to raise cooperation. Along with Reynolds, Calvin C. H. Ho (???), director of the Taipei Economic and Cultural Office in Chicago, and several pro-Taiwan U.S. senators and house representatives of Iowa attended the agreement signing event. Ho said that since 1989, Taiwan and Iowa have been each other's sister state and he is delighted to see both sides improve the bilateral relationship further. According to Ho, Taiwan is the sixth largest Asian market for products from Iowa. During its visit to the U.S., the Taiwanese delegation is expected to commit to buying 5 million metric tons of corn and 500,000 metric tons of related products, valued at US$1.23 billion from American producers in 2016 and 2017, according to Taiwan's representative office in the U.S. It also aims to buy 2.5 million to 2.9 million metric tons of soy bean valued at US$1.13 billion to US$1.26 billion during those two years. In 2014, Taiwan was the 10th largest trading partner of the U.S. and the seventh largest buyer of U.S. agricultural products, while the U.S. ranked as the second largest trading partner of Taiwan and the second largest foreign investor of Taiwan. (By Tsao Yu-fan and Frances Huang)

Updated : 2021-09-20 06:35 GMT+08:00