United States Taiwan Commences Formal Negotiations On US T...| MENAFN.COM

Friday, 07 October 2022 06:15 GMT

United States Taiwan Commences Formal Negotiations On US Taiwan Initiative On 21St Century Trade


(MENAFN- Caribbean News Global)

WASHINGTON, USA – The United States and Taiwan, under the auspices of the American Institute in Taiwan (AIT) and the Taipei Economic and Cultural Representative Office in the United States (TECRO), today have reached consensus on the negotiating mandate for the US-Taiwan Initiative on 21st-Century Trade announced on June 1, 2022.

The negotiating mandate announced Wednesday, sets out the broad objectives shared by the two sides for the upcoming trade negotiations. It is expected that the first round of negotiations will take place early this fall.

“[Today], we begin negotiations with Taiwan under the auspices of AIT and TECRO that will deepen our trade and investment relationship, advance mutual trade priorities based on shared values, and promote innovation and inclusive economic growth for our workers and businesses,” said Deputy United States Trade Representative Sarah Bianchi.“We plan to pursue an ambitious schedule for achieving high-standard commitments and meaningful outcomes covering the eleven trade areas in the negotiating mandate that will help build a fairer, more prosperous and resilient 21st-century economy.”

The United States and Taiwan, under the auspices of AIT and TECRO, have set a robust agenda for negotiations on trade facilitation, good regulatory practices, strong anti-corruption standards, enhancing trade between our small and medium enterprises, deepening agriculture trade, removing discriminatory barriers to trade, digital trade, robust labor and environmental standards, as well as ways to address distortive practices of state-owned enterprises and non-market policies and practices. The United States will continue to consult with Congress and key stakeholders like labor, business, environmental groups, and others throughout the negotiations.

On June 1, 2022, under the auspices of AIT and TECRO, the United States and Taiwan announced their intent develop an ambitious roadmap for negotiations under the US-Taiwan Initiative on 21st-Century Trade.

The negotiating mandate can be found here .

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