On the morning of February 9, President Ma Ying-jeou met with Ambassador Terry Miller, Director of the Center for Trade and Economics at The Heritage Foundation. In addition to explaining the ROC's efforts toward economic liberalization and the substantive achievements of cooperation between the ROC and the United States in the areas of trade and economics over the past few years, the president also emphasized that the ROC will continue to negotiate and sign free trade agreements and economic cooperation agreements to accelerate economic and trade liberalization.
In remarks, President Ma stated that since its founding in 1973, The Heritage Foundation has become a well-known American think tank whose opinions are closely followed throughout the world. Many scholars and experts at the foundation previously served in important positions in US administrations or in Congress. For instance, Ambassador Miller previously served as US Ambassador to the United Nations Economic and Social Council, and Deputy Assistant Secretary of State for Economic and Global Issues. The president added that in May 2014 he met with The Heritage Foundation President Jim DeMint, who assumed that position after stepping down from the US Senate. The backgrounds of these individuals indicate the important position and influence of The Heritage Foundation in decision-making circles in Washington, DC.
President Ma commented that since 1995, The Heritage Foundation, in partnership with The Wall Street Journal, has compiled an Index of Economic Freedom. As a yardstick for economic freedom, it has great credibility and an avid global following, and has also become an important point of reference in academic research and decision-making in countries the world over. In addition, Ambassador Miller's trip to Taiwan marks his first stop overseas to host the release presentation of the 2015 Index of Economic Freedom, highlighting the importance that the foundation places on the ROC and its intention to deepen the ROC-US economic and trade relationship, the president said.
President Ma furthermore stated that the latest index, released on January 27, placed Taiwan in the 14th spot among 186 nations and economic entities —a rise of three spots from last year and of 14 spots since he took office in 2008, which was the best since the report was first issued in 1995. Taiwan's level of economic freedom also was nearly on par with that of the United States, which was in the 12th spot, and it maintained the fifth place of the 42 nations and economic entities scored in Asia, higher than Japan (20th) and South Korea (29th), and behind only Hong Kong, Singapore, and Australia. Furthermore, Taiwan's level of economic freedom has risen for six consecutive years, which the president attributed to the government's active promotion of market liberalization and deregulation. Statistics indicate that last year alone, the government responded to the needs expressed by domestic and foreign industrial and commerce groups by easing the regulatory restrictions in 523 laws and regulations.
President Ma also mentioned that despite the ROC's unique diplomatic situation, Taiwan and mainland China in June 2010 signed the Cross-Straits Economic Cooperation Framework Agreement (ECFA), followed by the signing of the Taiwan-Japan Bilateral Investment Arrangement in September of the following year. The ROC and the United States resumed negotiations under the Trade and Investment Framework Agreement (TIFA) in March 2013, while in July of that year Taiwan and New Zealand signed the ANZTEC economic cooperation agreement, and in September inked the ASTEP economic partnership agreement with Singapore. All of these developments are concrete expressions of the ROC's intentions to promote trade liberalization, he said.
The president emphasized that the ROC in recent years has actively sought to participate in the Trans-Pacific Partnership (TPP) and the Regional Comprehensive Economic Partnership (RCEP). These two regional economic blocs absorb aggregately 70% of Taiwan's exports. As Taiwan relies on external trade for 70% of its GDP growth, the government hopes to expand its participation in regional economic integration. He explained that the ROC desires to sign free trade agreements or economic cooperation agreements covering 60% of the world by 2020. Multilateral trade talks under the TPP are expected to be resumed this year, while the RCEP is preparing to open up membership to non-ASEAN member states this year. The president indicated that the ROC hopes to be able to progress this year toward participating in these two mechanisms.
President Ma stated that economic and trade relations between the ROC and the United States continue to strengthen. Last year Taiwan was the 10th largest trading partner of the United States, while the United States is the second largest trading partner of Taiwan. The United States is also the largest source of direct investment in Taiwan, having aggregate investments of US$23.5 billion as of December of last year. Subsequent to the resumption of talks under the TIFA, Taiwan hopes to commence negotiations on a bilateral investment agreement. It is also actively participating in the SelectUSA investment program, hoping to further boost the cooperative economic relationship between the two countries, he said.
The president also pointed out that since taking office in 2008, his administration has continued to add depth to the bilateral relationship, thereby restoring mutual trust at the highest levels. He also mentioned that the ROC and the United States share the core values of freedom, democracy, human rights, and rule of law. The president noted that upon his election in 2008, former US President George W. Bush issued a message of congratulations to him praising Taiwan as "a beacon of democracy to Asia and the world," which proves that the ROC has become a completely democratic nation.
Ambassador Miller was accompanied to the Presidential Office by Deputy Minister of Foreign Affairs Andrew Jen-Chuan Kao (高振群).