Ma expresses hope for new trade talks to US official

A protest in Taipei against lifting the ban on imports on US beef, which has reopened the way to renewed trade talks
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Taiwan's president, Ma Ying-jeou, told a visiting US official Monday that he hopes Taiwan and the United States will resume the long-stalled talks under the Trade and Investment Framework Agreement and put bilateral trade negotiations back on track.

Taiwan is the 15th largest export destination for American goods and the sixth largest in terms of agricultural products, Ma said during a meeting with US Assistant Secretary of State Jose Fernandez.

Taiwanese businesses are also participating in Select USA, President Obama's initiative to attract both domestic and foreign investment, Ma said.

As of the end of April, Taiwanese companies have injected US$13 billion in 5,112 investment projects in the US, accounting for 19% of Taiwan's outbound investment, which is the second largest amount of investment in a single country, he said.

In light of such close business ties, Ma urged the US to resume trade talks with Taiwan, pointing out that Taiwan has inked a number of trade agreements with other countries in recent years, such as the ECFA trade pact with China and an investment agreement with Japan.

The president said that once trade negotiations are resumed, the next step for Taiwan is to create a better environment to take part in the Trans-Pacific Partnership Agreement.

For his part, Fernandez said he hopes to study ways to improve Taiwan-US trade relations during his short stay in Taiwan and that he will visit American businesses here, as well as Taiwanese companies doing business with the US.

Taiwan is one of the most important parts in Asia's successful economic development, said Fernandez, whose visit to Taiwan runs Aug. 5-7. His Asian trip will also take him to Japan and Vietnam.