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U.S. CONGRESS MEMBERS PUSH FOR SIGNING OF U.S.-TAIWAN FTA
U.S. CONGRESS MEMBERS PUSH FOR SIGNING OF U.S.-TAIWAN FTA
Washington, May 4 (CNA) Five members of the U.S. House of Representatives have proposed a resolution in support of the signing of a free trade agreement (FTA) between the United States and Taiwan, a Taiwan official said Friday.
The proposed resolution, which urges the administration of President George W. Bush to start FTA talks with Taiwan soon for an early conclusion of the agreement, was jointly put forth May 1 by Congressional Taiwan Caucus co-chairs Shelley Berkley (D-Nev.), Steve Chabot (R-Ohio), Dana Rohrabacher (R-Calif.) and Bob Wexler (D-Fla.), as well as Rep. Jim Ramstad (R-Minn.).
Stanley Kao, Taiwan's deputy representative to the United States, noted that while this is the third time that a similar resolution has been proposed in the House, it is the first one that has been initiated by more than one member of Congress.
The bipartisan congressional support for the signing of a U.S.-Taiwan FTA indicates the importance that members of Congress attach to enhancing trade relations between the two countries, Kao said.
He said the move has come at a "very ideal time" as the recent conclusion of FTA talks between the United States and South Korea is expected to impact Taiwan's industrial sector.
In addition to Congress, a number of state legislatures around the United States have made similar moves, with 21 legislative bodies in 15 states having adopted resolutions between January and April this year to express their support for a U.S.-Taiwan FTA, Kao said.
The proposed congressional resolution says Taiwan, as a member of the World Trade Organization (WTO), should enjoy the same right that other WTO members have to sign free trade agreements with other countries.
Taiwan shares common values with the United States in terms of democracy and free market economy, providing a strong foundation for open, fair and reciprocal bilateral trade relations, according to the draft resolution.
It says the close relations between the two countries over the past 50 years have brought about tremendous economic, cultural and strategic benefits to both sides
It notes that the volume of bilateral trade was valued at US$60 billion in 2006, with the United States being Taiwan's second largest export market and Taiwan being the eighth largest export market of the United States.
By consumption per capita, Taiwan is the largest consumer of U.S. agricultural products, with the island being the third largest overseas market for U.S. beef and corn, the fifth largest overseas market for U.S. soy beans, and the eighth largest overseas market for U.S. wheat, according to the draft resolution.
