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Taiwan's foreign ministry to explore business opportunities in Guatemala

Taiwanese government encourages businesspeople to invest in US diplomatic partners amid trade war with China

Guatemala President Alejandro Eduardo Giammattei visits Taiwan in October.

Guatemala President Alejandro Eduardo Giammattei visits Taiwan in October. (CNA photo)

TAIPEI (Taiwan News) — Phoebe Yeh (葉非比), director-general of the Ministry of Foreign Affairs' (MOFA) Department of International Cooperation and Economic Affairs, said at a press conference on Tuesday (Dec. 24) that the Taiwanese government will explore business opportunities in Guatemala next year.

Yeh said that Taiwanese business owners are encouraged to make investments in Central American countries as a way to support the U.S. in the U.S.-China trade war. She added that Central American and Caribbean nations not only have geographical advantages but also cheaper labor and land properties.

Yeh emphasized that the government plans to increase collaborations with the U.S., Japan, and other countries closely linked to Taiwan. She said that a Taiwanese delegation will be sent to Guatemala in the upcoming year to engage in trade talks and discuss the possibility of a financial partnership.

The MOFA official also mentioned that Acisclo Valladares, Guatemala's minister of economic affairs, was deeply impressed with Taiwan's textile industry during his visit to the island in November, so the two countries could start with that area. She pointed out that Guatemala is a sensible investment option from a cost-benefit analysis standpoint and a reliable diplomatic ally, reported Liberty Times.

Updated : 2022-05-29 04:30 GMT+08:00