Taiwan and the United States sign a cooperation framework to invest in the construction

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Taiwan-US cooperation has reached a new milestone. The Executive Yuan held a press conference today and stated that the two sides have signed the "Taiwan-US Infrastructure Financing and Market Establishment Cooperation Framework" on September 17, which will deepen Officially cooperate and introduce private resources, and join hands to invest in the development of regional infrastructure in the Americas and the New South.

In the afternoon, the Executive Yuan held a press conference on "Taiwan-U.S. Infrastructure Financing and Market Establishment Cooperation Framework". National Development Council Chairman Gong Mingxin, Finance Minister Su Jianrong, Foreign Minister Wu Zhaoxie, and Director of the Taipei Office of the American Association in Taiwan (AIT) Li Yingjie ( Brent Christensen) attended.

Su Jianrong pointed out that it is expected that this will enable Taiwan and the United States to open up more extensive cooperation opportunities, combine the new southward policy and the development of the US Indo-Pacific strategy, expand Taiwan’s regional and open more friendly relations with countries, and also help manufacturers to grasp international infrastructure. As well as business opportunities in the energy market, we will introduce more private sector funds and develop a regional debt market.

Li Yingjie said that the U.S. Treasury Department and the Taiwan Treasury Department will set up a working group under this structure to look for opportunities for public-private infrastructure cooperation through encouraging investment. The first meeting is tentatively scheduled to be held in the fall of 2020.

Li Yingjie said that this framework can also be used as a platform for the United States and Taiwan to explore how to expand cooperation and assist other countries in the region to cope with the urgent challenges of infrastructure construction. Through these efforts, we hope to make contributions to promote the Indo-Pacific region to be more prosperous, transparent, and supply. The chain is more resilient.

Li Yingjie pointed out that the promotion of technological exchanges and information sharing, and further promotion of the creation of a new supply chain for infrastructure in the Indo-Pacific region, is the best example of showing the partnership between the United States and Taiwan. "The United States and Taiwan are true friends and progress." Under the framework, the United States and Taiwan will set up workshops, courses, exchange activities, etc., and will also promote more expert meetings to discuss various technical fields related to the cooperation framework.

Su Jianrong explained that the then Acting Assistant Secretary of the U.S. Treasury Department Mitchell Silk proposed a cooperation concept when he visited Taiwan in July 2019. He hoped that Taiwan and the United States would cooperate in energy and infrastructure financing development. The Executive Yuan was formally established in November last year. "Taiwan-U.S. Energy and Infrastructure Financing Development Project Cooperation Group" to promote.

Su Jianrong said that on July 13 this year, the two parties proposed a draft cooperation framework, which was confirmed to be signed on September 17th, Eastern Time, and is currently preparing for the first working group meeting. According to the cooperation structure, under the inter-ministerial cooperation group, there will be 4 working groups directly connected with the United States, led by the Ministry of Economy, the Financial Management Committee, the Ministry of Transportation, and the Ministry of Finance.

Su Jianrong pointed out that the four working groups will focus on energy market financing and energy trading market development, Taiwanese corporate households’ participation in the energy and infrastructure market taxation issues, Taiwan-US energy and infrastructure investment cooperation in third places, and domestic energy and The infrastructure market development team specifically focuses on offshore wind power, financial needs and financial development.

Wu Zhaoxie said that the signing of the cooperation framework symbolizes that Taiwan-US relations will rise to the next level, and will continue to explore the possibility of Taiwan-US cooperation. He believes that along the way, the cooperation between the two countries will be deepened on the basis of good mutual trust. Gong Mingxin affirmed that this shows that Taiwan is now more capable and confident in making contributions to the outside world and exerting the greatest substantial effect in regional construction.

According to the Ministry of Finance, the cooperation framework includes the establishment of infrastructure financing and markets, the discovery and construction of infrastructure investment needs that meet the needs of Taiwan and U.S. investors, and cooperation in regional infrastructure investment and financing plans, etc., which can facilitate the joint participation of Taiwan and the United States in investing in the Americas and The infrastructure design in Southeast Asia will deepen the substantial cooperation relationship and meet the goal of Taiwan's long-term deep cultivation of the "new southward policy".