TAIPEI (Taiwan News) — The Illinois-Taiwan Business Forum was held Monday in Chicago, highlighting expanded cooperation in IT innovation and high-tech global supply chains.
A memorandum of understanding was signed by Illinois Chamber of Commerce President Jimmy Clayton and Taiwan’s Chinese International Economic Cooperation Association Chair Lyu Jye-cherng (呂桔誠), strengthening trade ties and links between Taiwan and Illinois, a major US manufacturing hub, per CNA.
Lyu delivered the opening address, noting the agreement marks the first time the association has established a state-level partnership in the US, symbolizing a deeper extension of Taiwan’s economic and trade cooperation with regional industries, according to CNA. He said Taiwan is an important economic and security partner of the US and supports efforts to revitalize American manufacturing and rebuild supply chains.
Later, Illinois State Comptroller Susana Mendoza spoke, noting Taiwan’s leadership in semiconductor manufacturing and other industries, which serve as models for Illinois. She said Taiwan and Illinois play key roles in the global supply chain, and that the state will continue to promote public-private partnerships and strengthen relations with Taiwan.
Illinois Department of Commerce and Economic Opportunity Director Kristin Richards said Taiwan and Illinois are resilient partners in the high-tech supply chain. She noted bilateral trade reached NT$188.93 billion (US$6 billion) last year, with more than 40 Taiwanese companies employing over 1,300 people in Illinois. Richards added that Illinois plans to establish an office in Taiwan this year, further strengthening bilateral technology and trade ties, per CNA
Taipei Economic and Cultural Office in Chicago Director General Lei Yen-feng (類延峰) said Taiwan holds a strategic position in the first island chain and a central role in the global high-tech supply chain. He said Taiwan and the US are steadfast partners in security, trade, and shared values.
Lei said the US is Taiwan’s largest overseas investment destination, accounting for more than 40% of its outbound investment. He added that the US became Taiwan’s largest trading partner last year, while Taiwan rose to fourth among the US's trading partners.
Illinois State Representative William Davis likened relations to a top selection in the recent NFL draft, calling Taiwan Illinois’ top pick for growth, innovation, and business development. He said he hopes both sides will deepen cooperation in education, agriculture, and quantum technology while fostering cultural exchange and supporting development at the University of Illinois.
