Inaugural Taiwan-US Meeting on Trade Initiative for the 21st Century Held

After Taiwan and the United States announced the launch of the Taiwan-US Initiative on 21st Century Trade, the two sides held their first meeting on this subject at the Office of the United States Trade Representative.

Organized both physically and virtually under the auspices of the Taipei Economic and Cultural Representative Office in the United States and the American Institute in Taiwan, the event was led by Minister John CC Deng; Taipei Economic and Cultural Representative Office US Representative Hsiao Bi-khim; and Deputy US Trade Representative Sarah Bianchi.

The roundtable talks focused on ways Taiwan and the United States can advance joint trade policies that benefit both workers and businesses.

Likewise, they discussed how to implement measures that lead to inclusive, fair and responsible growth in both economies.

The Executive Yuan stated that the meeting demonstrates that transparency and civic engagement are important to both sides and that Taiwan is committed to further strengthening the strong economic partnership with the US.

In a statement released by the US Trade Representative Office, Bianchi said the two countries have a long-standing business and investment relationship based on shared values. The proposed initiative will unlock market opportunities, promote innovation and create inclusive economic growth for both.

The US-Taiwan Initiative on 21st Century Trade covers key areas such as the digital economy, trade facilitation, improving regulatory practices, supporting small and medium-sized businesses, environmental and climate action, and promoting of non-commercial standards, practices and policies.