Taiwan signs deal to purchase $3.7 billion worth of US agricultural products

20-Sep-2019 Intellasia | TaiwanNews | 6:02 AM Print This Post

US officials, more than 20 members of Congress attend signing ceremony

A Taiwanese delegation signed an agreement with the US on Wednesday (September 18) to purchase billions of dollars worth of corn, soybeans, and beef from American farmers.

The delegation, led by Council of Agriculture deputy minister Chen Junne-jih, sealed the $3.7 billion (NT$114 billion) deal with local agricultural companies on Capitol Hill on Wednesday (September 18). David Stilwell, assistant secretary of state for the Bureau of East Asian and Pacific Affairs, attended the signing ceremony to show his support for the economic ties between the two countries, according to reports.

Over the past four decades, Taiwan and the US have developed a comprehensive and long-enduring relationship, sharing common interests and values based on the Taiwan Relations Act and “one-China” policy, remarked Stilwell. The first of his post to attend an event hosted by the Taiwanese authorities, Stilwell said the ceremony can be seen as an example of the two countries’ solid friendship.

A bipartisan group of more than 20 representatives and senators were among those who witnessed the signing of the memorandum of understanding, including those representing the states of Oklahoma, Georgia, Kansas, and Minnesota, where agriculture plays an important role in the local economy.

Taiwan has agreed to buy high-quality US agricultural goods in large quantities and with better prices, said Chen. He expressed hope that the purchase of US products will further deepen the bilateral relationship in trade and other areas.

According to the agreement, Taiwan will buy corn, wheat, soybeans, and beef from the US Chen said the government’s policy toward US beef exports remains unchanged and that the beef being purchased is among the products already approved by the government.

Congressman Ted Yoho, a member of the House Committee on Foreign Affairs, said the deal represents closer ties between the US and Taiwan. It sends a signal to the world that the US-Taiwan relationship will only become more robust in the future, he said.



Category: Taiwan

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