Top US en­voy praises strong part­ner­ship in trade and in­vest­ment

The China Post - - LOCAL - BY JOSEPH YEH

The top U.S. en­voy to Tai­wan yesterday ex­pressed U.S. ap­pre­ci­a­tion of the strong bi­lat­eral part­ner­ship on trade and in­vest­ment, but noted that both sides need to take fur­ther steps to re­move trade bar­ri­ers to fully re­al­ize busi­ness po­ten­tial.

In his open­ing re­marks at the U.S. Trade Day event in Taipei, Amer­i­can In­sti­tute in Tai­wan (AIT) Di­rec­tor Kin Moy praised the “ex­tra­or­di­nary” eco­nomic re­la­tion­ship that Tai­wan and the U.S. have built to­gether over the years.

“The U.S.-Tai­wan trade part­ner­ship has evolved into some­thing quite spe­cial, and it is clearly a win-win for both sides,” he said.

In 2014, Tai­wan was the U.S.’ 10th- largest trad­ing part­ner, ahead of In­dia and Italy. In the same year, the U.S. also be­came Tai­wan’s sec­ond-largest trad­ing part­ner when two-way trade in goods reached over US$67 bil­lion, Moy said.

“With Tai­wan’s strong con­vic­tion to fur­ther lib­er­al­ize its mar­kets, we can be con­fi­dent that we will con­tinue to see strong growth in our bi­lat­eral trade re­la­tion­ship in the com­ing years.”

How­ever, the AIT di­rec­tor pointed out that there is more both sides can do to fully re­al­ize the po­ten­tial the two economies have.

“We need to take steps to strengthen in­tel­lec­tual prop­erty rights pro­tec­tion and en­force­ment, re­move tech­ni­cal bar­ri­ers to trade that limit mar­kets and con­sumer choice, en­sure that rules con­form to in­ter­na­tional stan­dards, and achieve greater trans­parency and pre­dictabil­ity in reg­u­la­tory pro­cesses.”

Only by do­ing so to fur­ther ad­dress the “out­stand­ing ob­sta­cles” to trade can both sides con­tinue to pro­pel economies for­ward, Moy noted.

Though he did not spec­ify the so-called ob­sta­cles, the AIT head’s com­ments may be re­fer­ring to the Tai­wan gov­ern­ment’s on­go­ing ban on U.S. pork im­ports con­tain­ing the ad­di­tive rac­topamine.

Af­ter Tai­wan’s lift­ing of its ban on rac­topamine in beef prod­ucts in 2012, the U.S. has been push­ing the coun­try to es­tab­lish a max­i­mum residue level for rac­topamine used in pork as it did in beef.

The Tai­wanese gov­ern­ment, how­ever, has so far in­sisted that it will not lift the pork ban for food safety rea­sons.

Moy made the re­marks dur­ing his ad­dress at the open­ing cer­e­mony of U.S. Trade Day, jointly or­ga­nized by Tai­wan’s Min­istry of Eco­nomic Af­fairs’ Bureau of For­eign Trade and the Tai­wan Ex­ter­nal Trade De­vel­op­ment Coun­cil.

This marked the fourth year of hold­ing such busi­ness op­por­tu­nity brief­ing events.

Dur­ing yesterday’s ad­dress, Moy thanked the Tai­wan gov­ern­ment for hold­ing the event, which al­lows rep­re­sen­ta­tives from U.S. states and cities to meet with po­ten­tial in­vestors from Tai­wan

Joseph Yeh, The China Post

Amer­i­can In­sti­tute in Tai­wan (AIT) Di­rec­tor Kin Moy speaks dur­ing his ad­dress at the U.S. Trade Day open­ing cer­e­mony in Taipei, yesterday.

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