Alicia J.Keyes, Cabinet Secretary of the New Mexico Economic Development Department (5th from left), James C. F. Huang, Chairman of TAITRA (6th from left), Mei-Hua Wang, Deputy Minister of Economic Affairs (7th from left), W. Brent Christensen, Director of AIT (8th from left), Val Hale, Executive director of the Utah Governor’s Office of Economic Development (5th from right) and officials from the economic development offices of New Mexico, Utah, Alabama and Pennsylvania at the opening ceremony of the 2019 U.S. Business Day.
The Ministry of Economic Affairs and TAITRA jointly held the “U.S. Business Day” at the Taipei International Convention Center on 3 October 2019. As part of this event, the "Seminar on U.S. Investment Opportunities" was attended by 19 buyers from the U.S. Additionally, high-ranking officials from economic development offices of New Mexico, Utah, Pennsylvania and Alabama shared with us information on the latest investment and business opportunities in their respective states.
Since 2019 marks the 40th anniversary of the Taiwan Relations Act, the “U.S. Business Day” this year was particularly meaningful. Nineteen U.S. buyers including major companies whose annual sales exceeding 10 billion USD such as Grainger (industrial supplies and equipment), Meijer (shopping mall), Staples (stationery) and United Natural Foods (organic food) conducted over 200 one-on-one sessions with more than 100 Taiwanese firms.
Officials from the above-mentioned states introduced their investment environments and business opportunities, while offering linkages to trade and investment possibilities between our two sides in order to deepen the bilateral trade partnership.
Although the U.S. is a major trading partner of Taiwan’s, the recent U.S.-China trade conflict and the slowdown of the global economy have brought about many challenges to U.S.-Taiwan bilateral trade relations. Nevertheless, our bilateral trade in goods has persevered, amounting to 52.97 billion USD from January to August this year, growing 13.8％ compared to last year. Moreover, the U.S. Business Day helped match business opportunities in Taiwan with those in the U.S., while linking industries to jointly expand Taiwanese and the U.S. exports and create more global business opportunities.
Since the U.S. is also our major source of technology, taking advantage of Taiwan’s “5+2 Innovative Industries Plan” can enable our two sides to promote further industrial cooperation and jointly elevate the global competitiveness of Taiwanese and American businesses.