Taiwan Hopes To Start FTA Talks With U.S. By Year's End: Official

Wednesday, July 26, 2006

By Luis Huang, Central News Agency - Taiwan

July 25, 2006

Visiting Vice Minister of Economic Affairs Chen Ruey-long called Monday for the United States to start free trade agreement (FTA) talks with Taiwan by the year's end, claiming the early signing of such an accord would benefit both countries.

Chen, who arrived in Washington D.C. Sunday to pitch for a Taiwan-U.S. FTA, made the appeal while delivering a speech at a seminar held at the Center for National Policy.

In addition to having signed an FTA with Australia, the U.S. is currently holding FTA talks with South Korea, while China is also working to forge FTA ties with the Association of Southeast Asian Nations, Chen said.

Chen noted the U.S. government must not ignore Taiwan as the island country is its major trade partner, with two-way exchanges amounting to US$58 billion in 2005.

"We hope the two nations will start FTA talks by the year's end," Chen said, adding that Taiwan's trade officials will redouble efforts to drum up support from the U.S. Congress, business community and think tanks for the early signing of an FTA.

Chen also mentioned a Taiwan visit by Deputy U.S. Trade Representative Karan Bhatia in May to attend the fifth round of trade talks under the Taiwan-U.S. Trade and Investment Framework Agreement (TIFA), saying such talks have created favorable conditions for both countries to negotiate a free trade accord.

The TIFA was signed between the American Institute in Taiwan and the Taipei Economic and Cultural Representative Office in the United States in 1994 to resolve bilateral trade issues and enhance economic cooperation in the absence of formal diplomatic relations between the two countries.

Later in the day, Chen held a closed-door meeting with scholars from the Heritage Foundation. He is scheduled to attend a seminar at the American Enterprise Institute (AEI) Tuesday.