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Archive for the ‘Taiwan’ Category

Taiwan Assures Minimal Impact from Red Sea Disruptions on Trade

International Trade, News, Taiwan

February 5, 2024

Taiwanese companies appear to be weathering the disruptions in the Red Sea’s crucial shipping lane without significant impact, as these disturbances coincide with the traditional low season in export demand, according to Economy Minister Wang Mei-hua’s statement on Monday.   The Red Sea route has seen certain shipping companies suspending transit to avoid potential attacks […]

Taiwan’s Fourth Quarter Economic Growth Bolstered by Domestic Demand and Export Recovery

Economic Development, News, Taiwan

January 29, 2024

Taiwan’s trade-dependent economy is anticipated to have experienced accelerated growth in the fourth quarter of the year, largely attributed to robust domestic consumption and a resurgence in exports, according to a recent Reuters poll of 22 economists.   Gross domestic product (GDP) for the October-December period is expected to have expanded by approximately 4.35% compared […]

Taiwan President-Elect Expresses Interest in Joining U.S.-Led Trade Framework

International Trade, News, Taiwan, United States

January 24, 2024

Taiwan’s President-elect, Lai Ching-te, has conveyed his keenness for Taipei to become part of the U.S.-led Indo-Pacific Economic Framework, citing the island’s pivotal role in the global economy.   Taiwan was initially excluded from the Indo-Pacific Economic Framework by the United States in 2022, as part of the Biden administration’s efforts to counter what it […]

Guatemala’s President-elect Explores Economic Ties with Taiwan Ahead of Inauguration

International Relations, News, Taiwan

January 13, 2024

In a proactive move, Guatemala’s President-elect, Bernardo Arevalo, engaged in discussions with Taiwan’s Foreign Minister, Joseph Wu, signaling a commitment to strengthen commercial ties between the two nations. The meeting, held in anticipation of Arevalo and Vice President-elect Karin Herrera’s inauguration on Sunday, focused on fostering economic collaboration.   While Arevalo has expressed an intention […]

Taiwan’s December Exports Surpass Expectations, Led by Strong Demand from the US

News, Taiwan, Technology, United States

January 11, 2024

Taiwan experienced a notable surge in exports in December, outperforming expectations primarily due to increased demand for high-tech products from the United States. The finance ministry reported a substantial 11.8% year-on-year growth, reaching $39.94 billion. This exceeded the 4.9% growth forecast in a Reuters poll and marked a significant improvement from the 3.8% gain observed […]

Taiwan Central Bank Expected to Maintain Steady Policy in 2024 Amid Cooling Inflation

Economic Policy, News, Taiwan

December 11, 2023

Taiwan’s central bank is anticipated to maintain its current policy rate this week and throughout the entirety of 2024, as inflation gradually eases, according to a recent survey of economists conducted by Reuters. It is expected that the central bank will leave the benchmark discount rate unchanged at 1.875% during its upcoming quarterly meeting, with […]

Taiwanese Auto Parts Manufacturer Expands to U.S. Amidst Global Challenges

International Trade, News, Taiwan, United States

November 30, 2023

In response to evolving global dynamics and supply chain uncertainties, Hota Industrial Mfg. Co, a renowned Taiwanese auto parts manufacturer, is making a strategic shift by establishing its first manufacturing facility in the United States. For decades, Hota has been a key supplier of gears, shafts, and other automotive components to major foreign car manufacturers […]

Taiwan and Britain Forge New Trade Partnership, Strengthening Global Ties

International Trade, News, Taiwan

November 8, 2023

In a significant development, Taiwan and Britain have inked an Enhanced Trade Partnership, signaling their intent to deepen economic cooperation. The move is poised to fortify Taiwan’s position in global trade and enhance its diplomatic relationships with European nations.   Taiwan places great importance on its alliance with Britain, despite the absence of formal diplomatic […]

Taiwan Anticipates Stronger Q3 Economic Growth, Fueled by Domestic Consumption and Export Recovery

Economic Development, News, Taiwan

October 27, 2023

In a recent poll conducted by Reuters, economic experts have forecasted a notable uptick in Taiwan’s economic growth for the third quarter of the year. This optimistic outlook is primarily attributed to resilient domestic consumption and a tentative rebound in exports, marking a positive shift for Taiwan’s trade-dependent economy.   According to the survey of […]

Canada and Taiwan Conclude Bilateral Investment Deal, Bolstering Economic Ties

Canada, International Trade, News, Taiwan

October 24, 2023

Canada and Taiwan have successfully concluded negotiations for a bilateral agreement aimed at enhancing foreign investment. Canadian Trade Minister Mary Ng and the Taiwanese government announced their commitment to ensuring the swift implementation of this accord.   Taiwan, in its pursuit of greater diplomatic and moral support from major Western democracies, including Canada, faces increasing […]

Taiwan Seeks Australian Support for Inclusion in Pacific Trade Pact

Australia, News, Taiwan

September 26, 2023

During a meeting with a delegation of Australian lawmakers, Taiwan President Tsai Ing-wen called on Australia to back Taiwan’s bid to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Both Taiwan and China applied to join the CPTPP in 2021, but China opposes Taiwan’s inclusion, citing Taiwan as its own territory. The CPTPP, […]

Canada Affirms Commitment to Deepen Trade Ties with Taiwan, Pursuing FIPA Agreement

Canada, International Trade, News, Taiwan

September 12, 2023

The International Trade Council acknowledges Canada’s unwavering commitment to strengthening trade relations with Taiwan, as expressed by Ed Jager, Director of Trade and Investment at the Taipei Canadian Trade Office. Mr. Jager’s remarks underscore Canada’s dedication to fostering economic collaboration and enhancing trade ties with Taiwan, reinforcing the belief that partnership and cooperation are vital […]

Taiwan Temporarily Opens Market for Egg and Egg Products to Address Shortage

Agricultural Trade, News, Taiwan

September 7, 2023

In a recent development aimed at alleviating a domestic egg shortage, Taiwan has temporarily opened its market to eggs and egg products from 12 countries, including Australia. This move is in response to supply constraints in Taiwan attributed to unpredictable weather, escalating feed costs, and recent outbreaks of avian influenza. The newly implemented market access […]

US-Taiwan Trade Agreement Enacted to Enhance Bilateral Economic Cooperation

International Trade Agreements, News, Taiwan, United States

August 9, 2023

The International Trade Council notes the official enactment of the US-Taiwan trade agreement following US President Joe Biden’s endorsement. This legislation represents the first agreement under the US-Taiwan Initiative on 21st Century Trade, signaling a collaborative approach to bilateral trade ties. The agreement’s primary features include: Streamlining of customs procedures. Measures against corruption. Support mechanisms […]

Taiwan and US Purportedly Working on Trade Deal

Bilateral Trade Relation, News, Taiwan, United States

May 31, 2022

International Trade Council (ITC) announced that the United States and Taiwan are working on a deal to boost economic cooperation, particularly in the areas of trade, agriculture, and supply chains. The move comes after Taiwan was excluded from the US President Joe Biden’s Indo-Pacific Economic Framework (IPEF). According to sources cited by Bloomberg, the proposed […]

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