Скачать или смотреть First agreement signed for landmark US-Taiwan Initiative on 21st Century Trade

Another milestone in U.S.-Taiwan relations. The first agreement relating to the landmark U.S.-Taiwan Initiative on 21st Century Trade was signed on Thursday night. The signing ceremony took place on Thursday at the AIT Washington Headquarters with Taiwan’s de facto ambassador to the U.S. Hsiao Bi-khim, and AIT managing director, Ingrid Larson. It’s the most comprehensive trade agreement Taiwan has signed with the U.S. since Washington switched diplomatic ties to China in 1979. Officials say they hope the next step for Taiwan will be to negotiate a free trade pact with the U.S.

Taiwan’s U.S. representative Hsiao Bi-khim and the AIT’s managing director Ingrid Larson on June 1 signed the first agreement relating to the U.S.-Taiwan Initiative on 21st Century Trade at the AIT Washington Headquarters.

The agreement covers five areas relating to trade facilitation, regulatory practices, domestic regulations for the service industry and anti-corruption measures. It’s the most comprehensive trade agreement Taiwan has signed with the U.S. since 1979, reflecting that Taiwan’s economic and trade framework is at a high international standard.

The signing was witnessed by Taiwanese Minister Without Portfolio John Deng, Deputy U.S. Trade Representative Sarah Bianchi and AIT Chairperson Laura Rosenberger.

Wang Mei-hua
Economics minister
There are still seven chapters to follow, but this is still a very important milestone.

Taiwan and the U.S. simultaneously set up a trade facilitation committee to communicate and exchange information on a regular basis. The total fees and duties for newly simplified customs declarations and clearances will be eased to NT$75,000 and under.

President Tsai Ing-wen says there still needs to be negotiations on a further seven issues, including labor, the environment and digital trade. They will lay a more stable foundation for future negotiations on a Taiwan-U.S. FTA.

Lai Jui-lung
DPP lawmaker
The next step is to negotiate and sign a Taiwan-U.S. FTA. This will be extremely important for Taiwan’s future economic development and industrial development.

DPP lawmakers were happy to see this development, but opposition parties are demanding that the agreement be sent to the Legislative Yuan for a detailed review.

Chang Chyi-lu
TPP lawmaker
When it comes to signing this agreement, has there ever been any effective parliamentary oversight? At the time of the ECFA and services agreement, it was only passed in half a minute, and so protests erupted.

Wang Mei-hua
Economics minister
Later on of course we will send it to the Legislative Yuan, and we will respect the way the legislature reviews it.

The economics ministry is stressing that everything has been carried out according to the law and in future there will be a lot of business with the U.S. to look forward to.