New York, April 27 (CNA) The U.S. State of Illinois announced Monday at a business forum that it will set up an office in Taipei this year to strengthen bilateral technology, industry and trade ties.
The announcement was made during the Taiwan-Illinois Business Forum in Chicago, attended by officials, including Illinois Chamber of Commerce President Jimmy Clayton, Illinois Comptroller Susana Mendoza, and head of the Taipei Economic and Cultural Office in Chicago Dennis Lei (類延峰).
A memorandum of understanding (MOU) was signed between Joseph Lyu (呂桔誠), chairman of the Taipei-based Chinese International Economic Cooperation Association (CIECA), and Clayton to explore ways to expand cooperation between Taiwan and Illinois and promote trade and investment opportunities.
The MOU marked the first time CIECA, which comprises members from Taiwan's manufacturing, services and high-tech industries, has established an institutionalized partnership with a U.S. state.
Lyu said Taiwan is an important economic and security partner of the United States, and that his association will continue to use various platforms for exchange to deepen Taiwan-U.S. economic ties and expand bilateral investment and industrial cooperation opportunities.
Mendoza remarked that Taiwan, as a global leader in technology and a hub for semiconductor manufacturing, serves as a model for Illinois. She said both are exemplary players in the global supply chain, and Illinois will continue to promote public-private partnerships and strengthen cooperation with Taiwan.
Illinois Department of Commerce and Economic Opportunity Director Kristin Richards, who also attended the event, said Taiwan's advanced semiconductor and microelectronics industries have made significant contributions to the global economy and technological progress.
She said bilateral trade between Illinois and Taiwan reached US$6 billion last year, with more than 40 Taiwanese companies employing over 1,300 people in Illinois.
Looking ahead, she announced that Illinois will establish an office in Taiwan within the year to further strengthen bilateral economic and technological ties.
In his opening remarks at the forum, Lei said Taiwan and the United States are steadfast partners in security, trade and shared values, with Taiwan playing a key role in the global high-tech supply chain.
Currently, Taiwan has risen to become the fourth-largest trading partner of the United States, he added.
During the forum, a panel also discussed current trends in technological development and strategies to strengthen supply chain resilience, with several industry leaders emphasizing the importance of combining Taiwan's and Illinois' strengths to enhance overall supply chain efficiency.
