Source: Republic Of China Taiwan 2
The Ministry of Economic Affairs and TAITRA jointly held the”U.S. Business Day” at the Taipei International Convention Center on 15 October 2020. The event was held both physically and online to cope with pandemic travel restrictions. This year’s event featured one-on-one virtual business meetings as well as a seminar on U.S. Investment Opportunities.The Taiwan-U.S. relationship has witnessed substantial progress lately. This year, U.S. officials visiting Taiwan have come from the highest level in 40 years. For this event, we welcomed officials from the Department of Commerce, including Acting Under Secretary Joseph Semsar, Deputy Under Secretary Greg Kalbaugh, and Assistant Secretary Ian Steff who showed their support through video messages. The MOEA has continued to coordinate this event with the American Institute in Taiwan (AIT) and American State Offices Association (ASOA) to bolster economic cooperation with the U.S. across the federal and state levels.Our close relationship with the U.S. extends from federal to state governments. We are honored that the 2020 U.S. Business Day received strong support from more than 30 state officials including Governor Michelle Lujan Grisham of New Mexico, Governor Jared Polis of Colorado, Governor Brad Little of Idaho, and Governor Grad Herbert of Utah. In addition to their pre-recorded greetings, their introductory briefings about investment environments are available on our event website. The one-on-one virtual business meetings spanned two days linking Taiwanese businesses with buyers from the east and west coast of the U.S. This year, 18 U.S. buyers in such industries as machinery, ICT, auto parts, hardware, medical and consumer goods, as well as heavyweights like Amazon (ICT), TELAMON (ICT) and Seville Classics (furniture brand) participated. This event is highly praised by Taiwanese businesses seeking to establish new business partnerships with U.S. companies.As for the seminar on U.S. Investment Opportunities, we were very glad to have representatives from the South Carolina, Florida, Wyoming, Idaho, Washington, Hawaii, and Louisiana state offices in Taiwan to share with us information on their latest investment and business opportunities. These presentations will enable us to further explore opportunities for bilateral cooperation.The U.S. is a major trading partner of Taiwan. Bilateral trade in goods last year (2019) between the U.S. and Taiwan grew 11%, reaching US$ 81 billion. Furthermore, bilateral trade between our two countries continues to grow amid economic disruptions brought about by COVID-19. From January to August 2020, our bilateral trade in goods reached US$53.17 billion, growing 0.41% compared to the same period last year. The U.S. Business Day not only helped match business opportunities in Taiwan with those in the U.S., but also deepened U.S.-Taiwan supply chain cooperation to jointly tap into the global market.