TAIPEI (Taiwan News) — The American Chamber of Commerce in Taiwan (AmCham Taiwan) said the election victory of Lai Ching-te (賴清德) and his running mate Hsiao Bi-khim (蕭美琴) heralded a fourth decade of democracy for Taiwan.

AmCham Taiwan Chair Dan Silver said in a statement Saturday night (Jan.13) that shared values were the driving force behind the “lasting relationship between the people of the United States and Taiwan.”

AmCham extended its “warm congratulations” to Taiwanese society and praised the people’s steadfast commitment to democratic values.

“We have confidence in the crucial relationship between the American and Taiwanese people, believing that under the new government’s leadership, this relationship will continue to thrive,” said Silver.

AmCham Taiwan added it was grateful to President Tsai Ing-wen (蔡英文) and her administration for their “efforts and support. The government has maintained an open attitude toward industry and issues raised by the Chamber over the past eight years.”

The U.S.-government-backed organization said it wanted “closer cooperation” with Taiwan. Furthermore, it would work toward eliminating trade barriers and improving Taiwan’s competitiveness.