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President Tsai Ing-wen optimistic about closer Taiwan-US trade relations

Tsai pledges deeper bilateral economic ties via Taiwan-US 21st Century Trade Initiative

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(Facebook, Tsai Ing-wen image)

(Facebook, Tsai Ing-wen image)

TAIPEI (Taiwan News) — Taiwan will take advantage of the Taiwan-U.S. 21st Century Trade Initiative and work to deepen Taiwan-U.S. economic cooperation in the Indo-Pacific region, President Tsai Ing-wen (蔡英文) said on Wednesday (June 29).

Commenting on the bilateral trade initiative’s inaugural meeting held in Washington, D.C. on June 27, Tsai said, "We will seize the current golden opportunity and strive to deepen Taiwan-U.S. economic cooperation in the Indo-Pacific region through this initiative, and make great strides forward in trade and economics."

Tsai thanked John Deng (鄧振中), the Cabinet’s Office of Trade Negotiations chief negotiator, Hsiao Bi-khim (蕭美琴), Taiwan’s envoy to the U.S., and others for their efforts in trying to achieve Taiwan's economic and trade goals. The president said that over the past few years, the global economic situation has undergone considerable changes due to the U.S.-China trade war and the impact of the pandemic, which highlights the key role of the semiconductor industry in the global supply chain.

Tsai said that under Taiwan’s democratic and free system, people united to prevent the pandemic, which not only maintained the nation's economic development and the technology industry but also ushered in a prime opportunity for transformation. The smooth launch of this initiative is an important breakthrough in Taiwan-U.S. economic and trade relations, she said.

The president added Taiwan is highly dependent on trade and is willing to contribute its own strengths and work with democratic allies to jointly uphold the value of democratic freedom and fair trade.