Taiwan and the US signed a five-year memorandum of understanding (MOU) to establish annual economic talks, which could be extended another five years, Minister of Foreign Affairs Joseph Wu (吳釗燮) said yesterday.
Progress on the MOU, which was signed during the first Taiwan-US Economic Prosperity Partnership Dialogue on Friday, would be discussed annually, and would not be affected by whichever party is in the White House or the Presidential Office Building, Wu told a news conference at the Executive Yuan in Taipei after the six-hour discussion that was held virtually and in person in Washington.
“This dialogue is an important milestone in the Taiwan-US relationship,” Wu said.
Photo: Chien Jung-fong, Taipei Times
Responding to concerns that a change in leadership might affect the agreement, Wu pointed to the Global Cooperation and Training Framework, implemented in 2015 under then-president Ma Ying-jeou (馬英九) and then-US president Barack Obama.
The framework, which “provides a platform through which Taiwan could contribute to global problem-solving and share its expertise with partners across the region,” has been expanded under the current administrations of both nations, he said.
The memorandum received a high degree of support in the Executive Yuan and the legislature, Wu said, adding that the nations would next discuss which specific areas of the economy to cooperate on.
Wu said that it was too early to say what US president-elect Joe Biden’s position would be on a bilateral trade agreement, adding that the government would wait until Biden took office to discuss the issue.
There is a Trade and Investment Framework Agreement in place with the US, through which the government has moved to relax restrictions on imports of US pork and beef, he said.
A petition initiated by a US senator and signed by 50 other senators has been sent to US Trade Representative Robert Lighthizer, calling on him to start negotiations with Taiwan on a bilateral trade agreement, Wu said.
“I cannot recall the last time a petition had such widespread support from US politicians. It is a very strong signal of support for Taiwan in the US Congress,” he said, adding that he believed that support would continue under Biden.
“This memorandum is a foundation on which the US and Taiwan can expand economic cooperation,” he said.
US Secretary of State Mike Pompeo initiated the Economic Prosperity Partnership Dialogue with Taiwan to bolster cooperation. The talks follow repeated calls from Washington and Taipei for negotiations over a formal trade deal.
Additional reporting by Bloomberg
‘DENIAL DEFENSE’: The US would increase its military presence with uncrewed ships, and submarines, while boosting defense in the Indo-Pacific, a Pete Hegseth memo said The US is reorienting its military strategy to focus primarily on deterring a potential Chinese invasion of Taiwan, a memo signed by US Secretary of Defense Pete Hegseth showed. The memo also called on Taiwan to increase its defense spending. The document, known as the “Interim National Defense Strategic Guidance,” was distributed this month and detailed the national defense plans of US President Donald Trump’s administration, an article in the Washington Post said on Saturday. It outlines how the US can prepare for a potential war with China and defend itself from threats in the “near abroad,” including Greenland and the Panama
A magnitude 4.9 earthquake struck off Tainan at 11:47am today, the Central Weather Administration (CWA) said. The hypocenter was 32.3km northeast of Tainan City Hall at a depth of 7.3km, CWA data showed. The intensity of the quake, which gauges the actual effect of a seismic event, measured 4 in Tainan and Chiayi County on Taiwan's seven-tier intensity scale, the data showed. The quake had an intensity of 3 in Chiayi City and County, and Yunlin County, while it was measured as 2 in Kaohsiung, Nantou County, Changhua County, Taitung County and offshore Penghu County, the data showed. There were no immediate reports of
The Chinese Nationalist Party (KMT) is maintaining close ties with Beijing, the Democratic Progressive Party (DPP) said yesterday, hours after a new round of Chinese military drills in the Taiwan Strait began. Political parties in a democracy have a responsibility to be loyal to the nation and defend its sovereignty, DPP spokesman Justin Wu (吳崢) told a news conference in Taipei. His comments came hours after Beijing announced via Chinese state media that the Chinese People’s Liberation Army’s Eastern Theater Command was holding large-scale drills simulating a multi-pronged attack on Taiwan. Contrary to the KMT’s claims that it is staunchly anti-communist, KMT Deputy
RESPONSE: The government would investigate incidents of Taiwanese entertainers in China promoting CCP propaganda online in contravention of the law, the source said Taiwanese entertainers living in China who are found to have contravened cross-strait regulations or collaborated with the Chinese Communist Party (CCP) could be subject to fines, a source said on Sunday. Several Taiwanese entertainers have posted on the social media platform Sina Weibo saying that Taiwan “must be returned” to China, and sharing news articles from Chinese state media. In response, the Mainland Affairs Council (MAC) has asked the Ministry of Culture to investigate whether the entertainers had contravened any laws, and asked for them to be questioned upon their return to Taiwan, an official familiar with the matter said. To curb repeated
RSS