TAITRA signs trade MOU with US state Rhode Island
Taiwan External Trade Development Council ( TAITRA, ), Taiwan’s main trade promotion body, signed an agreement with the Rhode Island Commerce Corporation yesterday to deepen cooperation in trade and investment development.
The Rhode Island Commerce Corporation is a quasi-public agency that serves as the official economic development organization for the state of Rhode Island in the United States. Rhode Island is the U.S.’ smallest state by area and is located on the northeast coast, Massachusetts.
Walter Yeh ( ), executive vice president of TAITRA, said that terms of its memorandum of understanding (MOU) include bringing Rhode Island businesses into Taiwan-based trade exhibitions and conventions.
“Rhode Island’s food industry is very competitive — they could use Food Taipei to expand into the Taiwanese market as well as into Asia as clients from neighboring countries attend,” Yeh said.
“In addition, their yacht industry is very competitive. The Taiwan International Boat Exhibition in Greater Kaohsiung this year saw 13 international brands from countries like England, France and Switzerland.”
TAITRA would also welcome Rhode Island to establish a trade center in Taiwan, he said.
The U.S. trade mission, led by the Rhode Island’s Secretary of Commerce Stefan Pryor, will be in Taiwan from Aug. 23 to 26.
In 2014, bilateral trade with Rhode Island was valued at over US$150 million, according to TAITRA.
Taiwan shipped about US$59.7 million worth in exports last year, mainly in machinery and parts, optoelectronics and medical equipment, while importing about US$90.82 million in pearls, precious stones, glass products and other high-end products from the U.S. state.