TIFA Talk

Trade and Investment Framework Agreement(TIFA) between the United States and Taiwan reopened today (June 30) after 2016. The United States is led by Assistant U.S. Trade Representative Terrence J. McCartin, and Taiwan's Office of Trade Negotiations Deputy Trade Representative Yang Jen-ni is leading the talk. Due to the impact of the epidemic, the talk is through the virtual meeting.

Mr. W. Brent Christensen, Director of the American Association in Taiwan (AIT) made a speech at the Opening of TIFA Council Meeting, he said that “As my three years as AIT Director soon come to an end, the relaunch of the TIFA process is a fitting conclusion to my time here. During my time at AIT, we have seen the great strides Taiwan has made to cement ‘better protections for intellectual property rights’.” This Talk is dedicated to advancing bilateral economic relations, and it is expected to negotiate and sign the "BTA" (Bilateral Trade Agreement) to jointly increase awareness of consolidating supply chain resilience, and expand digital trade relations that support innovation and promote economic growth. 

Since the TIFA between the United States and Taiwan signed in 1994, the first TIFA Talk was held in 1995 to discuss the development of “bilateral economic and trade relations”, deliberate the topic of mutual concerns, and gradually eliminate those bilateral trade barriers and promote trade and investment cooperation. Since Tsai Ing-wen took office in 2016, today is the beginning of the TIFA dialogue between the United States and Taiwan after 5 years, which has important meaning of indicator. After the first meeting of TIFA meeting in 1995, the subsequent meetings were held in 1997, 1998, 2004, 2006, 2007, 2013, 2014, 2015, 2016, and today’s meeting, a total of 11 times.

Today, the key points of common understanding for the two parties are:

1. At the meeting, Taiwan expressed the expectation to sign the "Bilateral Trade Agreement" (BTA) and hoped that the two sides would work hard to raise the relations up.

2. Committed to strengthen interaction and to resolve the trade issues.

3. Committed to supporting and strengthening the security and resilience of the supply chain.

4. Taiwan proposed to "authorize vaccine manufacturing", and the US promised to continue the discussion.

5. The two sides agreed to set up a new working group under TIFA to discuss individual themes, conduct annual summaries, and communicate at the annual TIFA meeting.

In short, the results of TIFA Talk today have two main conclusions: "1. How to deepen bilateral relations; 2. To assist in the recovery after the epidemic."

 

 

Peter Lichang Kuo, the author created Taiwan's Precision Industry in his early years and was a representative of the APEC CEO Summit.

 

Reference:

https://pkpreaching.blogspot.com/2021/06/630.html (TIFA Talk)

 

 

Links：

https://pkpreaching.blogspot.com/2021/06/614.html (轉捩點)

https://pklctrips.blogspot.com/2021/06/614.html (Turning Point)