Taipei: – Head of Taiwan Trading Negotiator John Deng told the United States on Wednesday that he hoped both of them can be “gradually” moving towards a free trade agreement, an agreement that would be a strong show from Washington.
Both parties held an old talks on the trade agreement and investment framework, or Tifa, virtually.
It was stopped after former US President Barack Obama left the office in 2016 and his successor to the Donald Trump trade representative, Robert Lighthizer, focused his attention in China, the second largest economy in the world.
In the comments of the opening Deng, reported by the Taiwanese cabinet, he said Tifa can make each economy more prosperous and create more employment opportunities.
“We hope through the Tifa platform, both parties can continue to deepen their relationship and gradually move towards the free trade agreement,” he added.
The top US diplomat in Taiwan, Brent Christensen, said in the opening session, the resumption of Tifa’s talk was “an important element of our revitalization involvement”.
Biden’s government has moved to reaffirm its strong commitment to democratically ruled islands in facing pressure from Beijing to try and confirm its sovereignty.
Taiwan has looked long to deal with free trade with the United States, even though the agreement like that with Taiwan is likely to run out of Beijing, who said the island is the Chinese territory and has no rights to state-to-state relations.
“I am sure that today’s talk will help place as-Taiwan’s economic relations on the right path for more cooperation and more progress in the future,” Christensen added.
The talk was also attended by US Trade Representative Assistant Terry McCartin and Taiwan’s top diplomats in Washington, Hsiao Bi-Khim.
The US Trade Representative Office said during the conversation that US officials emphasized the importance of As-Taiwan’s trade and investment relations and “expressed desire for stronger and more consistent involvement in the future.” Both parties also expressed support for joint work to improve the security of critical supply chains and resilience, he added.
Taiwan is a major manufacturer of semiconductors, a shortage of goret supply chains globally and affects car makers in particular.
While Taiwan is a member of the World Trade Organization, many countries are alert to sign trade transactions with Tech Powerhouse who are afraid of objections from China, although Taiwan does have free trade transactions with Singapore and New Zealand.
Last year, the Taiwanese government raised a ban on pork imports that contained additives that increased leanness, ractopamine, eliminating the main stumbling blocks for the agreement with Washington.