President Chen Shui-bian received Japanese parliamentarian Hagiuda Kouichi and his wife on October 31. He appreciated Mr. Hagiuda's efforts in facilitating the visit of the delegates from the Youth Division of the Liberal Democratic Party (LDP).
President Chen told his guest that Taiwan is Japan's best democratic ally and security partner. As there are the Taiwan Relations Act (TRA) between the US and Taiwan, and a defense treaty between Japan and the US, President Chen expressed his hope that the two countries can set up a similar mechanism.
President Chen suggested that Taiwan and Japan think about pushing for a Japanese version of TRA so as to establish a security triangle between Japan, the US, and Taiwan. President Chen made a similar suggestion in a video teleconference with Japanese lawmakers and academics on October 30.
According to President Chen, Japan is Taiwan's second largest trade partner and Taiwan is Japan's fourth, and their bilateral trade for 2005 reached a high US$60 billion. "With the good economic and trade ties, we should consider the necessity of signing an FTA between our two countries," said President Chen. "We may start with signing an investment guarantee pact, then discuss the forming of an economic partnership agreement (EPA), and then sign the FTA."
Concluding the meeting, President Chen invited Mr. Hagiuda to attend the inauguration ceremony of the Taiwan High Speed Rail, which relied on Japanese technology for its construction.