Economic Dialogue Agreement Signed Between USA and Taiwan
US-Taiwan Economic Dialogue Agreement – The US signed an agreement with Taiwan that plans to establish a 5-year dialogue mechanism to increase economic cooperation.
According to the agreement called “US-Taiwan Economic Welfare Partnership Dialogue”, the parties will develop cooperation in the fields of information security, production of semiconductors, investment, science and technology and will hold annual meetings on these issues.
There is no free trade agreement between Taiwan and the US, which has a sovereignty dispute with China.
While Joseph Wu, member of the Taiwan government responsible for foreign affairs, explained this new step as “an important milestone”, Brent Christensen, the director of the Taipei American Institute, who is the US defacto diplomatic mission on the island, said that the agreement in question was an indicator of the development of US-Taiwan relations.
The agreement between the USA and Taiwan is expected to receive reaction from China, which sees the island as its territory.
On November 11, Chinese Foreign Ministry Spokesperson Wang Vınbin called on the Washington administration to stop any official contact with Taiwan, saying that they oppose the economic dialogue meeting between the US and Taiwan.