Our Delegation Tops SelectUSA for 3 Consecutive Years; Kung Ming-hsin Meets US Officials to Urge Acceleration of ADTA

Taiwan's robust participation in the SelectUSA Investment Summit, marking its third consecutive year as the largest international delegation, underscores the island's unwavering commitment to strengthening economic ties with the United States. Led by Economics Minister Kung Ming-hsin and National Development Council Minister Yeh Chun-hsuan, the delegation of 207 representatives from 113 companies showcased Taiwan's significant interest and capability in expanding investments within the US.

Minister Kung's proactive engagement with US officials, particularly his call to expedite the legislative process for the Avoidance of Double Taxation Agreement (ADTA), is a critical move. This agreement is vital for eliminating tax obstacles that Taiwanese enterprises face when investing in America, thereby fostering a more equitable and attractive environment for bilateral trade and investment. The discussions also extended to deepening the strategic economic partnership, a testament to the shared vision of building resilient supply chains and advancing technological innovation.

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America First is not just for America, but will work with allies including Taiwan, Japan, South Korea, and the European Union to jointly build more resilient supply chains.

The sheer size of Taiwan's delegation, spanning diverse sectors from communications and biotech to aerospace and cybersecurity, speaks volumes about the island's economic dynamism and its role as a key player in global supply chains. As US Commerce Secretary Gina Raimondo noted, "America First" is evolving into a collaborative approach with allies like Taiwan, emphasizing joint efforts in building robust and reliable supply chains. This sentiment was echoed by US officials who recognized Taiwan's expertise and efficiency in high-tech manufacturing, particularly in semiconductors.

From Taiwan's perspective, this engagement is not merely about seeking investment opportunities in the US; it's about solidifying a strategic alliance that enhances economic security and technological leadership for both nations. The emphasis on developing next-generation semiconductor and advanced technology supply chains highlights a shared objective to create a more secure, resilient, and trustworthy ecosystem. Taiwan's consistent presence and leading role at SelectUSA demonstrate its proactive stance in co-creating a future of shared prosperity and technological advancement with its most important international partner.

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The agreement signed by both sides in trade and investment at the beginning of the year is not a general trade arrangement, but symbolizes that both sides have officially entered a new phase of strategic economic partnership and is of great significance to America's economic security and leading future technological development.