TAIPEI (Taiwan News) – At the annual SelectUSA Investment Summit this year in Washington D.C., trade officials and business representatives from Taiwan represented the largest foreign delegation at the Summit.
The SelectUSA summit, held from June 20 to June 22, promotes itself as “highest-profile event dedicated to promoting foreign direct investment” in the U.S.A.
In an effort to further economic cooperation between the U.S. and Taiwan, while capitalizing on the opportunities of the competitive U.S. economy under the Trump administration, 60 businesses and 124 representatives of Taiwan attended the summit, the largest of any foreign delegation.
The second and third largest foreign delegation representing potential foreign investment belonged to China with 97 people, and Japan with 89 representatives. Indian trade and business representatives numbered 86, as the fourth foreign largest contingent at the Summit.
The remarkably high number of trade representatives form Taiwan reflects the interest of Taiwan and Taiwanese businesses in strengthening economic links and pursuing joint development with U.S. firms. It likewise reflects Taiwanese confidence in the good business environment in the U.S. which has been steadily developing in the first years of the Trump administration.
Liberty Times quotes a statement from the Ministry of Economic Affairs, as saying that they hope the activities of the delegation will help to ultimately reduce the trade deficit between Taiwan and the U.S. and to strengthen bilateral and economic trade partnerships.
The Deputy Minister of Economic Affairs Kung Ming-hsin (龔明鑫) was reported as saying that as a result of this year’s SelectUSA Summit, that Taiwanese companies would be increasing investment in the U.S. in areas of petrochemicals, electronics, steel manufacturing, rubber and plastics, along with biotech and opto-electronics.