During a meeting with US Assistant Secretary of State for Economic and Business Affairs Jose W. Fernandez on the morning of August 6, President Ma Ying-jeou emphasized that an extraordinary session of the Legislative Yuan on July 25 passed revisions to the Act Governing Food Sanitation to allow imports of US beef. The president expressed his hopes that negotiations between Taiwan and the United States under the Trade and Investment Framework Agreement (TIFA), which have been shelved for five years, can be resumed as soon as possible. He also reiterated Taiwan's desire to create the conditions to participate in the Trans-Pacific Partnership (TPP) within eight years so that the nation can take active part in regional economic integration within Asia.
In remarks, the president stated that Assistant Secretary of State Fernandez is one of the highest ranking officials from the U.S. Department of State to visit Taiwan in recent years. President Ma commented that this clearly demonstrates that Taiwan and the United States have re-established mutual trust at the highest levels over the past four years, and it also signifies the confidence and sincerity of the two sides in promoting bilateral relations.
President Ma remarked that he has strived to strengthen Taiwan-US relations over the past four years, and these efforts have already yielded a number of concrete achievements. For instance, the United States government has approved the sale to Taiwan of three packages of arms worth a combined total of US$18.3 billion. In addition, the United States is assisting Taiwan in upgrading its fleet of F-16A/B fighter jets in order to help Taiwan maintain its air defenses. President Ma also mentioned that last year during the APEC meetings in Honolulu, US Secretary of State Hillary Clinton publicly emphasized that Taiwan is an important security and economic partner of the United States, which highlights the sincere intent of both sides to promote a friendly and cooperative relationship. Meanwhile, President Ma noted that Taiwan was included last year as a candidate for inclusion in the US Visa Waiver Program and that Taiwan is hoping to receive good news over the next few months that would indicate its formal entry into the program.
The president noted that Assistant Secretary of State Fernandez is visiting Taiwan to promote the SelectUSA Initiative, an investment incentive program introduced by US President Barack Obama. President Ma said Taiwan is very willing to participate in this initiative, adding that according to statistics compiled by the Ministry of Economic Affairs, Taiwan companies had made 5,112 investments totaling US$13 billion in the United States as of the end of this April. This amount accounts for 19% of Taiwan's total foreign investment and makes the United States the second most popular destination for Taiwan investment overseas. President Ma expressed his confidence that Taiwan's entry into the US Visa Waiver Program will help to boost tourism and investment ties between the two countries.
President Ma also explained to the assistant secretary of state that the United States is Taiwan's third largest trading partner, its third largest export market, and its third largest source of imports. At the same time, Taiwan is the 10th largest trading partner of the United States, its 15th largest export market, and its sixth largest export market for agricultural goods. Bilateral trade in goods last year amounted to US$67.2 billion, up 8.6% from 2010, which points to the close trade relationship between the two countries, the president said. In addition, in 2010 the American Institute in Taiwan (AIT) received the top two Export Promotion and Commercial Diplomacy Achievement Awards from the US State Department in recognition of the organization's achievements in fostering bilateral trade. President Ma furthermore added that William A. Stanton, who just retired as director of AIT's Taipei Office, played an instrumental role in this success.
The president pointed out that Taiwan has already signed the Cross-Straits Economic Cooperation Framework Agreement with mainland China, its largest trading partner. Meanwhile, it has signed the Taiwan-Japan Bilateral Investment Arrangement with Japan, its second largest trading partner. Negotiations under the TIFA with the United States, its third largest trading partner, have long been stalled due to the issue of US beef imports to Taiwan, but President Ma noted that an extraordinary session of the Legislative Yuan on July 25 passed revisions to the Act Governing Food Sanitation, which allow for a maximum residue limit on ractopamine of 10 ppb. The president said that with this issue now resolved in a reasonable manner, he hopes that negotiations between the two countries under the TIFA can be resumed as soon as possible so that bilateral trade and economic talks can return to normal, which will be in the interest of the business communities and the public in both countries.
President Ma stated that this trip to Taiwan by Assistant Secretary of State Fernandez represents the beginning of a new phase in Taiwan-US relations. He expressed his hopes that joint efforts by the two sides will enable bilateral relations to move on to a higher level. President Ma also congratulated and welcomed Brent Christensen, who has arrived in Taiwan and taken up his new post as deputy director of the Taipei Office of the AIT.
Assistant Secretary of State Fernandez was accompanied to the Presidential Office by Deputy Director Brent Christensen of the Taipei Office of the AIT to meet President Ma. Also attending the meeting were National Security Council Deputy Secretary-General John C.C. Deng (鄧振中) and Deputy Minister of Foreign Affairs Tung Kuoyu (董國猷).