Hoeven, Taiwan Agriculture Officials Reaffirm Longstanding Agriculture Trade Partnership
Senator Meets with Taiwan Council of Agriculture Deputy Minister, Agree to Statement on Trade Relationship
TAIPEI - U.S. Senator John Hoeven, ranking member of the Senate Agriculture Appropriations Committee and senior member of the Senate Agriculture Committee, and Wen-Jane Tu, Deputy Minister of Taiwan’s Council of Agriculture, issued the following statement after meeting on agriculture and trade, and reaffirming the longstanding trade partnership between the U.S. and Taiwan.
“The United States, particularly my home state of North Dakota, and Taiwan have long been dependable partners in agriculture trade,” Senator Hoeven said. “Today’s meetings reaffirmed our commitment to this important trade partnership. Back in 2004, when I was Governor of North Dakota, I sent a delegation to Taiwan to expand export opportunities for North Dakota producers and businesses here in Taiwan. Over the past 20 years, we’ve worked to build this relationship, and most recently signed letters of intent for Taiwan to purchase $3.2 billion worth of U.S. agriculture products in September, where they also invited me to visit Taiwan. This important trading relationship continues to grow, linking U.S. producers with this important market. We have many important relationships with Taiwan, and agriculture is a strong example. With our meetings today and this joint statement, we are committed to continuing to build our agricultural trading relationship.”
The leaders agreed to the following statement on the importance of the trade relationship:
The Republic of China (Taiwan) and the United States enjoy a close and longstanding partnership based on their shared dedication to freedom, democracy and a market economy.
As governor of North Dakota, Hoeven organized a trade delegation to Taiwan in 2004 to expand trade and diplomatic relations between North Dakota and Taiwan. The trade mission succeeded in developing new markets with Taiwan regarding exports of value-added agriculture products. In 2005, Hoeven and Taiwanese officials signed a joint agreement committing Taiwan Flour Mills Association to buy 1.7 million metric tons of U.S. wheat worth approximately $372 million. Since then, Hoeven has continually worked to support trade with Taiwan, and most recently signed letters of intent in 2022 with Dr. Ching-Cheng Huang, Deputy Minister of Taiwan’s Council of Agriculture, and other Taiwanese agriculture leaders, for Taiwan to purchase $3.2 billion in U.S. agriculture products throughout 2023 and 2024, including U.S. soybeans, corn and wheat, including products from North Dakota.
Taiwan has sent a total of 13 Agricultural Trade Goodwill Missions to the United States since 1998, resulting in the importation of 24.3 million Metric Tons (or 1 billion bushels) of wheat, 40.5 MT (or 1.5 billion bushels) of soybeans, and 78.6 MT (or 3.1 billion bushels) of corn from the U.S.
Taiwan imported $4.4 billion of U.S. farm products in 2022, making it the seventh largest market for U.S. agricultural products overall.
The U.S. is one of Taiwan’s largest sources of agricultural products, supplying more than one-fifth of its major agricultural imports.
Various bilateral mechanisms and exchanges, including the U.S.-Taiwan Initiative on 21st Century Trade, the Trade and Investment Framework Agreement (TIFA), the Select USA Investment Summit, US Business Day, and the Agricultural Trade Goodwill Mission, have laid the foundation for a mutually beneficial bilateral trade agreement that would cover agricultural products and elevate economic relations between the United States and Taiwan.
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