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Taiwan seeks to bolster economic, security cooperation with US

President Tsai meets with US-Taiwan Business Council delegation

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Krach Institute for Tech Diplomacy Chair Keith Krach and Taiwan President Tsai Ing-wen. (Presidential Office photo)

Krach Institute for Tech Diplomacy Chair Keith Krach and Taiwan President Tsai Ing-wen. (Presidential Office photo)

TAIPEI (Taiwan News) — President Tsai Ing-wen (蔡英文) reiterated Taiwan’s commitment to bolstering economic and security cooperation with the U.S. during a meeting with the U.S.-Taiwan Business Council (USTBC) delegation on Tuesday (Jan. 23).

Taiwan is ready to join the Indo-Pacific Economic Framework, Tsai said. She hoped the council could support Taiwan's ascension into the organization to contribute to regional and global economic and trade development, per a Presidential Office press release.

Despite challenges posed by economic and geopolitical developments, Taiwan has remained resilient through it all, Tsai said. The country maintains competitiveness internationally and is dedicated to upholding the stability of the global supply chain, she said.

As Taiwan engages with the world, the relationship between Taiwan and the U.S. continues to deepen through various mechanisms, she said. The signing of the first agreement under the Taiwan-U.S. Initiative on 21st Century Trade last year marked a new milestone in bilateral trade relations, Tsai said.

Tsai also acknowledged ongoing efforts to address double taxation between Taiwan and the U.S. This initiative aims to create more business investments and partnerships in critical supply chains, she said.

She welcomed the recent passage of a Taiwan-U.S. double taxation relief bill by the U.S. House Ways and Means Committee.

Meanwhile, Keith Krach, the chairman of the Krach Institute for Tech Diplomacy, pledged to enhance Taiwan's international status by promoting the Clean Network, an alliance formed by like-minded partners aiming to drive freedom through innovation.

He highlighted the importance of partnerships with reliable individuals and appreciation for trustworthiness. When people think of Taiwan, the keyword that comes to mind is "trust," he said.

Krach also underscored the value of the friendship between Taiwan and the U.S. The former U.S. undersecretary of state is leading the annual USTBC delegation to Taiwan, which includes USTBC President Rupert Hammond-Chambers, members of the council’s board of directors, and U.S. business executives.

The trip explores new opportunities for cooperation, strategic partnerships, and innovation in major industries.