US and Taiwan agree to start trade talks

The United States and Taiwan have agreed to start negotiations on trade and economic cooperation between the two sides, which has drawn strong opposition from China, which considers Taiwan part of its territory.

A statement from the US trade representative on Wednesday said the first round of talks would take place “early this fall.”

The talks will cover ways to facilitate trade between Washington and Taipei, regulatory measures, anti-corruption standards, promotion of agricultural trade and other issues.

The statement added that the talks “will deepen our trade and investment relationship and help energize our shared commercial priorities based on shared values, driving innovation and inclusive economic growth for our workers and projects.”

For its part, the Taiwan Trade Negotiation Authority confirmed in a statement that these negotiations are aimed at developing the island’s economy by boosting agricultural trade and supporting small and medium-sized enterprises in their incursion into US markets.

Taiwan is also looking to boost investor confidence by “attracting assets and technology from the United States and around the world.”

China denounced the aforementioned trade initiative on Thursday, stressing its “strong opposition” to it. The Chinese Foreign Ministry warned the United States against any steps that undermine the sovereignty of Beijing.

China urged the United States to “respect China’s interests,” stressing that it will “take all necessary measures to firmly protect its sovereignty and development interests.”

Source: agencies

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