A new round of negotiations for the U.S.-Taiwan Initiative on 21st-Century Trade successfully concluded on Tuesday evening in Taipei, with the chief trade negotiators on each side expressing satisfaction with the progress and results of the talks.
This round of talks focused on trade facilitation, anti-corruption measures, good regulatory practices, small and medium-sized enterprises and services domestic regulation, with officials reporting good progress in each of these areas. The trade initiative is expected to lead to simplified customs clearance and verification procedures, increased transparency, as well as the creation of multiple platforms that will allow either side to seamlessly share positive experiences and resolve trade and investment hurdles.
Both sides agreed to continue follow-up discussions via video conferencing and other communication channels to fast-track confirmations on outstanding matters. Moreover, the negotiating teams did not rule out signing early harvest agreements on certain items provided good progress is made.