US-Taiwan Business Council Welcomes Resumption of Trade & Investment Framework Agreement Talks

Sept. 30, 2010 - PRLog -- The US-Taiwan Business Council welcomes today’s news on the soon-to-be resumed Trade & Investment Framework Agreement (TIFA) talks. After a 3-year freeze over access to Taiwan’s beef market, this signifies a welcome resumption in dialogue between America and its 10th largest trading partner.

The American Institute in Taiwan (AIT), in its statement today, also announced that Deputy U.S. Trade Representative Demetrios Marantis would lead the U.S. delegation to the talks. Marantis would be the most senior official to travel to Taiwan representing the Obama Administration, and his visit heralds an important first step in re-establishing a robust dialogue on areas of mutual interest. The Council hopes that Mr. Marantis represents the first of many visits by senior economic officials to Taiwan, to shore up and promote American commercial interests on the island.

Council President Rupert Hammond-Chambers noted that “the coming dialogue will face the challenge of addressing issues over pork and rice that have simmered for a number of years. However, it is critical that both sides do not get bogged down in another parochial corner of our trade relationship, such as what happened with beef, instead focusing on those areas that will significantly impact bilateral trade opportunities.”

The US-Taiwan Business Council supports the negotiation and conclusion of agreements between the U.S. and Taiwan to address taxation, investment, e-commerce, the liberalization of Taiwan’s energy market, and pharmaceuticals - among others.

# # #

The US-Taiwan Business Council (www.us-taiwan.org) is a membership-based non-profit association, founded in 1976 to foster trade and business relations between the United States and Taiwan. The Council provides its members with business intelligence, offers access to an extensive network of relationships, and serves as a vital and effective representative in dealing with business, trade, and investment matters.