Make FTA with Taiwan a priority: US representative
Taipei Times
Make FTA with Taiwan a priority: US representative
CNA, Washington
18 February 2006
A pro-Taiwan member of the US House of Representatives has proposed a resolution urging President George W. Bush to make the conclusion of a US-Taiwan free trade agreement (FTA) one of the top priorities of his administration.
The proposed resolution, which was put forth by Robert Andrews on Wednesday, also calls for Bush to instruct the US Trade Representative to expedite negotiations on a FTA between the two countries.
The draft resolution says a US-Taiwan FTA would provide recognition of Taiwan’s status as a free and democratic nation and would further enhance democracy in Taiwan.
The draft points out that the US is Taiwan’s largest trading partner and is a net exporter of agricultural products to Taiwan, with Taiwan being one of the top 10 largest markets for US agricultural products last year.
It says that Taiwan functions as the gateway to Asia, has the world’s third-largest foreign exchange reserves, is the world’s third-largest exporter of information technology-related products, and ranks fourth in global growth competitiveness among the countries surveyed by the World Economic Forum in 2004.
It also notes that as the eight-largest trading partner of the US, Taiwan ranks higher than many countries with which the US has concluded FTAs, including Australia, Jordan, Morocco, Panama, Singapore and several Central American countries.
Of the 13 criteria spelled out by former US Trade Representative Robert Zoellick in 2003 for selecting potential FTA partners, Taiwan also meets the criteria better than those countries, the draft says.
It cites a report released in October 2002 by the International Trade Commission, which forecast that US exports to Taiwan would increase by 16 percent, or roughly US$3.4 billion annually, after the signing of an FTA between the two countries.
Another report released by the Institute for International Economics in 2004 predicted that US exports to Taiwan would see an annual increase of US$6.6 billion, the draft says.
Following in Andrews’ foot-steps, two other US House members, Republican Representative Jim Ramstad and Democrat Representative William Jefferson, jointly put forth a resolution on Thursday urging Bush to instruct the US Trade Representative to expedite negotiations on a FTA between the US and Taiwan.
