Taiwan, which is experiencing a ‘sovereignty crisis’ with the United States (US) and China, announced its plans for trade talks in early autumn.
Washington and Taipei have reached an agreement on negotiating authority under the “US-Taiwan Initiative on 21st Century Trade,” the US Trade Representative’s (USTR) statement said.
“We welcome the opportunity to deepen economic cooperation between the two freedom-loving countries as we shape a new model for trade cooperation in the Indo-Pacific,” Taiwan’s Ministry of Foreign Affairs said.
Taipei’s representative in Washington, Hsiao Bi-Khim, said: “We welcome this announcement. Taiwan is ready to start!” used the phrases.
After US House of Representatives Speaker Nancy Pelosi visited Taipei, Beijing launched its largest military exercises around the island.
What topics will be discussed?
The first round of negotiations is expected to take place in the beginning of this autumn. It was reported that he set a solid agenda.
In the statement, it was noted that disruptive practices of state-owned enterprises and non-market policies and practices were also on the agenda.
In the statement of USTR, it was stated that the USA will continue to consult with Congress and workers, business world, environmental groups and other key stakeholders throughout the negotiations.
Sarah Bianchi, US Deputy Trade Representative, said in the statement that they will begin negotiations with Taiwan that will deepen trade and investment relations, develop mutual trade priorities based on shared values, and foster innovation and inclusive economic growth for employees and businesses.
“We plan to pursue an ambitious program to achieve high-standard commitments and meaningful results, covering 11 trade areas under negotiations that will help build a fairer, more prosperous and resilient 21st century economy,” Bianchi said.
The USA and Taiwan launched a new initiative to strengthen economic and trade relations on June 1 and announced their intention to develop a roadmap for negotiations within this scope.
It was reported that the initiative aims to develop concrete ways and mutual trade priorities based on common values, to deepen economic and commercial relations, and to promote inclusive economic growth through innovation.
“Our Taiwan policy has not changed”
The United States announced that its stance on Taiwan has not changed. “While our policy has not changed, it is Beijing’s growing pressure that has changed. These actions are part of an intensified pressure campaign to intimidate and coerce Taiwan and undermine its resilience,” said US Assistant Secretary of State for East Asian and Pacific Affairs Daniel Kritenbrink in a teleconference. .
Taiwan’s largest trading partner is China. Last year, 42 percent of Taiwan’s exports went to China and Hong Kong, and 15 percent to the United States.
Maintaining de facto relations with Taiwan, Washington supports Taipei’s right to decide the island’s future. China sees Taiwan as its territory.