TAIPEI (Taiwan News) — At the opening ceremony of Taiwan EXPO USA held in Washington, D.C., U.S. Under Secretary of Commerce for International Trade Marisa Lago said Taiwan is of great significance to the American economy.

Lago was cited by CNA as saying the significance stemmed from Taiwan’s status as a major trading partner and source of rapidly increasing foreign direct investment. She said the U.S. will continue to expand and deepen bilateral ties by cooperating in key fields and policies so both sides can respond to regional and global challenges in trade and investment.

She named the Technology Trade and Investment Collaboration Framework (TTIC) and its promotion of semiconductor, electric vehicle, cyber security, and energy collaborations and innovations as a highlight featured at the Taiwan EXPO USA.

CNA reported that aside from Lago, the event was attended by American Institute in Taiwan Chair James Moriarty, as well as ambassadors to the U.S. of Taiwan’s allies, including Saint Lucia, Haiti, and the Marshall Islands.

Moriarty said at the ceremony that Taiwan EXPO USA demonstrates Taiwan’s innovative technologies and rich culture. He added, as the world’s silicon island, Taiwan holds a key position within the global semiconductor supply chain.

The expo, therefore, is crucial to U.S. and Taiwan businesses’ exploration of ways to reinforce supply chain resilience, according to Moriarty.

U.S. Under Secretary of Commerce for International Trade Marisa Lago highlights deepening ties between Taiwan and the U.S. (CNA photo)

American Institute in Taiwan Chair James Moriarty says the Taiwan EXPO USA demonstrates Taiwan’s innovative technologies and rich culture. (CNA photo)