On the evening of May 13 (Eastern Daylight Time), Kung Ming-hsin, secretary-general of the Executive Yuan, concluded a successful trip to Washington, D.C., where he attended the SelectUSA Investment Summit. The secretary-general said that this visit not only facilitated exchanges with Taiwanese corporations and startups in attendance at the summit, but also enabled meetings with members of the U.S. administration and Congress. He emphasized that Taiwan's active participation in the U.S. government's SelectUSA investment program serves as a testament to the importance of Taiwan-U.S. cooperation for both sides.
Secretary-General Kung pointed out that the efforts of Taiwanese enterprises to establish a presence and invest in the U.S. have been met with strong interest from the American side, with several Taiwanese firms already announcing new investment initiatives. He therefore urged the U.S. Senate to expedite the passage of legislation pertaining to an avoidance of double taxation agreement (ADTA) between Taiwan and the U.S. In addition, Taiwan's government intends to increase its procurement of U.S. goods and services to help promote balanced bilateral trade.
The secretary-general noted that global supply chains began restructuring after the onset of the 2018 U.S.-China trade war, spurring overseas Taiwanese businesses to move operations from China back to Taiwan or relocate production to Southeast Asia. The challenges of the COVID-19 pandemic further refined these supply chains, making them even more resilient. He expressed hope that during U.S. President Donald Trump's second term, further progress can be made in strengthening global economic security and supply chain resilience.
During his trip, Secretary-General Kung also witnessed the signing of a memorandum of understanding between Chairman Joseph Jye-Cherng Lyu of the Chinese International Economic Cooperation Association, Taiwan, and President Rupert Hammond-Chambers of the US-Taiwan Business Council. The secretary-general looks forward to the two organizations' joint cooperation in further advancing Taiwan-U.S. economic and trade relations.