TAIWAN / USA, (Taiwan Today) – Seven memoranda of understanding were concluded between Taiwan and US firms on October 13 in Washington DC, reflecting the commitment of both sides to advancing their already robust partnership.
According to the ministry of economic affairs, the pacts were signed by leading firms from the two sides in sectors primarily related to 5G telecommunication technologies and renewable energy.
The companies are Taiwan’s Aerospace Industrial Development Corp., Edgecore Networks Corp., HTC Corp., Quanta Cloud Technology Inc., Taiwan Power Co. and TMY Technology Inc., and DuPont de Nemours, Inc., General Electric Co., Intel Corp., Lumen Technologies Inc. and RingCentral Inc. of the US.
Minister of economic affairs Wang Mei-hua, Taipei Economic and Cultural Representative Office in the US. Rep. Hsiao Bi-khim, US. assistant secretary of commerce for Global Markets Arun Venkataraman and American Institute in Taiwan Chairman James Moriarty were present at the signing ceremony.
The MOEA said the development follows closely on the Technology Trade and Investment Collaboration framework announced by Wang and US secretary of commerce Gina Raimondo during a videoconference on December 7, 2021.
Wang said that economic and political developments around the world mean that countries recognize the importance of a resilient and secure global supply chain to ensure sustainable business operations and economic growth.
As Taiwan and the US both play key roles in the global supply chain, the ministry said the MOUs will help raise their respective advantages and jointly expand their worldwide market presence, especially in the 5G broadband infrastructure development sector.