The agreement aims to strengthen and deepen bilateral economic and trade relations.
USTR spokesman Sam Michel said in a statement: “We thank our Taiwanese partners for helping us achieve this important milestone and look forward to the upcoming negotiations on various areas of trade. additional provisions specified in the initiative’s negotiating mandate”.
The American Institute in Taiwan and the Taipei Economic and Cultural Representative Office in the United States recently signed the first agreement under the framework of the US-Taiwan Initiative on 21st Century Trade. negotiation encourages that the SME dialogue includes small and medium-sized enterprises owned by diverse, under-served and under-represented groups.
Negotiated document on good management practices creates improved transparency tools and mechanisms that will help small and medium enterprises (SMEs) better understand regulatory procedures in both the US market and the US market. Ky and Taiwan.
The SME document will encourage trade and investment opportunities for small and medium-sized enterprises between the two sides through training programs, trade education, trade sponsorship, trade delegations, and more. trade and improve SMEs’ access to capital and credit.
It encourages that the SME dialogue includes SMEs owned by diverse, underserved and underrepresented groups.
Negotiated text on customs administration and trade facilitation will streamline border procedures and reduce red tape, helping US businesses get their products to Taiwan and Taiwanese customers easier, faster and cheaper.
Customs forms can be filed electronically and will allow border agencies to accept electronic payment of taxes, fees and charges. Reducing wait times for trains and idling trucks will also reduce greenhouse gas emissions and reduce spoilage, especially perishable goods, says Michel.
The anti-corruption document commits the parties to establish comprehensive anti-corruption measures. Building on the anti-corruption framework established in the United States-Mexico-Canada Agreement, this chapter addresses money laundering, denial of entry to foreign officials, recovery of corrupt funds, and enhanced protections corruption whistleblowers.
Fiber2Fashion (DS) News Desk
