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Releasing 2022 Taiwan White Paper, AmCham calls on Taiwan to cultivate an international minded pool
In particular, the American Chamber of Commerce in Taiwan (AmCham) emphasized the need for Taiwan to take quick and sustained action in ensuring a stable energy environment and to cultivate a sufficient, diverse, and internationally minded pool of talent. Furthermore, AmCham Vice Chairperson Andrea Wu noted, Taiwan must make greater efforts to eliminate trade barriers and improve its regulatory system in order to be a more attractive partner for high-standards bilateral and multilateral trade agreements.
At a press conference today for the release of the 2022 Taiwan White Paper, AmCham called for the government of Taiwan to act urgently to take advantage of the unprecedented and growing level of international attention, support, and goodwill it has received over the past year by improving its business climate and redoubling efforts to sign ambitious trade and economic agreements.
AmCham also provided through the White Paper a series of recommendations to the U.S. government. Wu welcomed the recent announcement of the establishment of the U.S.-Taiwan Initiative on 21st Century Trade but restated the Chamber’s longstanding advocacy position that concluding a bilateral trade agreement (BTA) is the single most important step for cementing the trade relationship between the two sides. She thus called on the Biden administration to initiate talks on a BTA and on Congress to pass legislation requiring that negotiations for such an agreement begin this year.
Other requests made in this year’s White Paper included beginning negotiations on a bilateral semiconductor supply-chain agreement, passage of the America Competes Act, and final passage of and funding for the Taiwan Fellowship Act. In addition, AmCham once again made the case to both governments for a U.S.-Taiwan double taxation agreement, which it argued would help facilitate trade and two-way investment.
While fewer issues raised by AmCham’s 26 industry committees in the 2021 White Paper were considered solved by the time of publication of this year’s edition, Wu noted the importance of continued dialogue between the committees and the Taiwan government. She also highlighted the significant breakthrough of Taiwan’s acceptance of Medical Device Single Audit Program documents as application materials for expedited licensing of imported medical device products made earlier this year.
Wu lastly thanked the National Development Council for its efforts in coordinating and facilitating the annual White Paper meetings, as well as the numerous government agencies for continuing to come to the table to cooperate with AmCham members on resolving tough regulatory issues.
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Taiwan Business TOPICS is published monthly by the AmCham, and covers current topic affecting business conditions in Taiwan, an Industry Focus section on a particular industrial sector, and other reports prepared by the magazine’s staff of experienced professional journalists.
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