President Lee Teng-hui, when meeting with US Deputy Treasury Secretary Lawrence Summers, extends his thanks to the US government for her support for the ROC's bid to join the World Trade Organization(WTO). The President says he has instructed the related government agencies to complete this country's economic and trade negotiations with members of the WTO as soon as possible to accelerate entry into the organization.
President Lee also underscores the importance of the ROC's plan to build Taiwan into Asia-Pacific operations center, saying that the project aims to reform the country's economic structure and make Taiwan a highly liberalized and internationalized economy. This project, the President notes, can also sharpen the nation's competitive edge to attract more investments, especially from other developed countries.
Meanwhile, the President takes the opportunity to urge Taiwan business people to make pragmatic, conservative investments in the Chinese mainland. President Lee encourges them to diversify their overseas investment on the one hand, and, on the other, to plant their roots in Taiwan so as to accomplish the Asia-Pacific operations center plan.
During the meeting, Mr. Summers says that the US-ROC Subcabinet Economic Dialogue helps improve bilateral economic and trade relations. He also tells the President that he is deeply impressed with the ROC's recent efforts to liberalize its markets and adopt a series of financial reform.
Also present at the meeting are Mr. Ding Mou-shih, Secretary-General of the ROC National Security Council, Mr. Stephen S.F. Chen, Deputy Secretary-General to the President, and Mr. Cheng Chien-jen, the ROC Vice Foreign Minister.