TAIPEI (Taiwan News) — A Taiwan-U.S. trade deal may be on the horizon by the end of this year, Taiwan Chief Trade Representative John Deng (鄧振中) said at a press conference on Tuesday (Jan. 17).

Deng said there are only a few issues left that need to be negotiated further and that he is hoping to sign a bilateral economic and trade agreement by year's end, CNA reported.

The two countries wrapped up a four-day round of negotiations, which included discussions on trade facilitation, anti-corruption, small and medium-sized enterprises, good regulatory practices, and service industry regulations, per the Office of the U.S. Trade Representative. Trade officials also agreed on a number of areas and pledged to hold more talks in the coming months to continue the momentum.

The U.S.-Taiwan Initiative on 21st-Century Trade meetings originally covered 11 areas, but after two rounds of negotiations, domestic regulations for the service industry were added as the 12th issue, Deng said.

Deng said that he is very satisfied with the outcome of this week’s talks. Taiwan and the U.S. are expected to sign certain agreements within a few weeks, which will take the U.S.-Taiwan Initiative on 21st-Century Trade a step forward and lead to substantial results this year, he said.

Deputy Trade Representative Yang Jen-ni (楊珍妮) led the Taiwan delegation, while Assistant United States Trade Representative Terry McCartin led the American delegation.

This round of U.S.-Taiwan Initiative on 21st-Century Trade talks was held in Taipei from January 14-17. It is a follow-up to the first meeting, which took place in New York from November 8-9, 2022.