By Caribbean News Global 
TAIWAN / USA – The United States and Taiwan under the auspices of the American Institute in Taiwan (AIT) the Taipei Economic and Cultural Representative Office (TECRO), Secretary of Commerce Gina M. Raimondo and Taiwan minister of economic affairs Mei-hua Wang, met to cooperate under a new framework.
“Given the strong and long-standing commercial and investment ties between the United States and Taiwan, Secretary Raimondo and minister Wang announced that AIT and TECRO, in partnership with the Department of Commerce’s International Trade Administration (ITA) and the Taiwan Ministry of Economic Affairs (MOEA) Bureau of Foreign Trade (BOFT), intend to cooperate through a new Technology Trade and Investment Collaboration (TTIC) framework, under which ITA and the Taiwan authorities aim to develop commercial programs and explore actions to strengthen critical supply chains,” said US Department of Commerce.
The TTIC framework will also support actions focused on the US and Taiwan investment environment, industry trends, and new opportunities while concurrently promoting investment into the United States.
“Working together, we can build business connections and generate further investments which will ultimately create good-paying jobs, strengthen critical supply chains, and deepen our overall economic relationship, underscored the United States’ support for Taiwan and the importance of the US Taiwan commercial and investment relationship; US continued interest in working together with Taiwan on issues of common commercial concern, particularly in the area of semiconductor supply chains and related eco-systems,” Secretary Raimondo said.
The two countries committed to regularly engaging with partners and stakeholders across critical supply chains, related eco-systems, and associated customer bases.
The US and Taiwan already communicate on economic issues through two other high-level bilateral economic dialogue platforms — the Trade and Investment Framework Agreement (TIFA) and the US-Taiwan Economic Prosperity Partnership Dialogue (EPPD).
The United States and Taiwan have also committed to identifying other steps to support semiconductors and other critical supply chains and planned to instruct the designated representatives at the bureau level to plan and convene the first meeting of the TTIC under the auspices of AIT and TECRO in the coming months.
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