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FTA with US on cards by 2010

11
Nov '08
Referring to the prospects of a Taiwan-United States FTA, the United States and Taiwan Business Association, with its headquarters located in the U.S. capital of Washington, a senior official of the association said that the US will review the status of its global trading partners once the newly elected President assumes office and has first dealt with domestic economic problems.

Asia will naturally be a focus, but the Democratic Party will take time in re-thinking and formulating new strategies on liberalization of foreign trade and establish internal consensus on the matter, the proper time for which is likely to be, the end of next year, added the President of the association.

Han Ru Bo, President of US-Taiwan Business Council said, “Discussions on a foreign free trade agreement (FTA) with Taiwan would absolutely be the top most priority as and when US restarts negotiations on FTA's.”

He expected that once the new government led by the new President finalizes its position on FTA negotiations, a FTA with Taiwan is high on the agenda, because in comparison with Mainland China which is facing many problems, Taiwan possesses higher standards with regards to labour rights, intellectual property rights, trade laws and regulations due to which it will be easier for Taiwan to enter in to FTA negotiations with the US.

He sounded very optimistic when he said “Taiwan intends to negotiate with the United States on bilateral investment agreements and avoiding of double taxation which will constitute important components of the FTA.”

He expects the FTA to be signed not earlier than by end of 2010.


Fibre2fashion News Desk - China


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