Office of the President Republic of China(Taiwan)

On the morning of January 17, President Tsai Ing-wen met with a delegation led by Ambassador Paul Wolfowitz, the chairman of the US-Taiwan Business Council. In addition to thanking the Council for its support over the years, the president also expressed hope that Taiwan and the United States can find a new model for cooperation within the context of their respective economic revitalization efforts, with an eye toward propelling bilateral economic and trade ties toward new heights.

In remarks, President Tsai noted that Ambassador Wolfowitz has led numerous business delegations to Taiwan since becoming chairman of the US-Taiwan Business Council in 2008. The fact that he has once again led a large delegation here, said the president, shows the importance that the US business community attaches to economic and trade ties between Taiwan and the US.

President Tsai pointed out that the US-Taiwan Business Council is an important ally and staunch partner for Taiwan. For many years, in addition to supporting Taiwan-US economic and trade ties as well as bilateral security cooperation, the Council has continuously worked to strengthen Taiwan-US relations and explained the importance of Taiwan-US economic and trade ties to American society. To accomplish this, she noted, the Council has liaised with the US executive and legislative branches, published articles in mainstream US media, and organized conferences on Taiwan-US industrial and economic relations. The president thanked the Council for its longstanding support, and for its efforts to further Taiwan-US economic and trade ties.

President Tsai pointed out that this visit comes at a key time, as a new administration is set to take over in the US very soon. She expressed confidence that, with the world in a state of flux, further strengthening and stabilizing Taiwan-US economic and trade cooperation is an important foundation for economic growth in both countries.

President Tsai also mentioned that Taiwan's economy is currently in the midst of a critical transition phase. Revitalization of the Taiwanese economy will be an important task in this new year. In addition to focusing on development of the "5 plus 2" industries (seven key innovative industry development projects that Taiwan's government has proposed to transform Taiwan's economic and industrial structures), we also hope to undertake two main initiatives—"accelerating measures to restructure the economy" and "expanding infrastructure investment across-the-board"—to provide new impetus for economic growth. The president said she was confident that Taiwan and the US can find a new model for cooperation within the context of their respective economic revitalization efforts.

Stating that "the US is Taiwan's most important economic and trade partner and ally," President Tsai added that we have accumulated a lot of successful experience with cooperation, but we shouldn't rest on our laurels; rather, we should continue forward and take our bilateral economic and trade ties to new heights. Whether it be a mutually beneficial bilateral free trade agreement, or some other method of economic integration, we will create a better environment for investment and trade through more and better talks, and we hope that the US-Taiwan Business Council will continue to provide support and assistance on this front.