Top News of the Week – U.S.-Taiwan Business Council Delegation to Taiwan
The U.S.-Taiwan Business Council, including members from 29 companies in energy, finance, defense, and tech, visits Taiwan to bolster economic ties.
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Top News of the Week – Chairman Krach Leads U.S.-Taiwan Business Council Delegation to Taiwan
Led by former U.S. Under Secretary of State Keith Krach, the U.S.-Taiwan Business Council delegation, comprised of representatives from 29 companies in sectors such as energy, finance, defense, and high-tech, visited Taiwan to enhance bilateral economic and trade relations.
“Taiwanese citizens stood resolutely behind their democracy and sent a clear message to the world that their freedom is here to stay,” said Chairman Keith Krach. “I am honored to lead the U.S.-Taiwan Business Council delegation to Taiwan at this critical time. Our visit demonstrates the commitment of the American business community to furthering bilateral economic cooperation rooted in mutual trust. Without a strong, resilient, and prosperous Taiwan, freedom everywhere will be imperiled by authoritarianism.”
President Tsai Ing-wen welcomed the delegation, praising the House Committee on Ways and Means recent passage of the US-Taiwan Expedited Double-Tax Relief Act. She underscored Taiwan's readiness to enhance bilateral investment in key supply chains.
During last year’s visit, Chairman Krach noted that he and President Tsai discussed the Global Tech Security Commission as a means to developing and operationalizing a global tech security strategy. One of the president’s recommendations was to create the Taiwan Center for Innovation and Prosperity (TCIP), which has been initiated by the Krach Institute.
During their visit, the U.S.-Taiwan Business Council delegation was addressed by President-elect William Lai, who, together with Vice President-elect Bi-khim Hsiao, emphasized Taiwan's dedication to peace and maintaining regional stability in the Indo-Pacific. Expressing gratitude for the U.S. government's robust support of Taiwan's democratic principles, Lai conveyed a keen interest in participating in the U.S.-led Indo-Pacific Economic Framework (IPEF) and underscored the importance of preserving the current state of affairs in the Taiwan Strait.
During a discussion on double taxation and economic relations, Chan Chien-jen, President of the Executive Yuan, told the delegation: “we hope that your association will continue to help convey to the U.S. government the importance of this issue, which can increase the use of funds and reduce tax risks for U.S. business investment in Taiwan Industry and talent exchange.”
Chen Chien-jen emphasized that the US-Taiwan Business Association has always been a partner in promoting Taiwan’s economic and trade relations with the United States
This delegation marked the second time that Chairman Krach has organized a to visit Taiwan in the past six months to promote Taiwan-US cooperation.
More Background:
Taiwan Center for Innovation and Prosperity - Krach Institute for Tech Diplomacy at Purdue
President Tsai meets delegation from U.S.-Taiwan Business Council - Office of the Peoples Republic of China, January 25, 2024
The Vice President of Taiwan meets with the “U.S.-Taiwan Business Association Delegation - Office of the Peoples Republic of China, January 25, 2024
Chen Jianren Meets with US-Taiwan Business Delegation to Resolve Dual Tax Issues - NTDV, January 23, 2024
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About: Tech Diplomacy Now
The Krach Institute for Tech Diplomacy at Purdue is the world’s preeminent trusted technology accelerator. As the leader of the new category of Tech Diplomacy, the Institute integrates technology expertise, Silicon Valley strategies, and foreign policy tools to build the Global Trusted Tech Network of governments, companies, organizations and individuals to accelerate the innovation and adoption of trusted technology and ensure technology advances freedom.