US, Taiwan to hold 2nd economic prosperity dialogue on Nov 22; aim to enhance trade ties

The United States and Taiwan are all set to conduct the second Economic Prosperity Partnership Dialogue (EPPD) on November 22. The meeting is aimed at enhancing trade and investment between the two nations, according to a press release from the US Department of State. The EPPD meeting will be led by the US Under Secretary for Economic Growth, Energy, and the Environment, Jose W Fernandez, the US State Department informed.  

The American Institute in Taiwan (AIT) along with the Taipei Economic and Cultural Representative Office (TECRO) in the United States is hosting the discussion. Under the supervision of AIT and TECRO, the first EPPD was held in November 2020 to enhance collaboration on a wide range of economic problems and create tighter financial and commercial connections between the USA and Taiwan.

"Our partnership is built on strong two-way trade and investment, people-to-people ties, and in the common defence of freedom and shared democratic values," the US State Department said.  

No substantial progress on Taiwan at Xi-Biden virtual summit 

It should be mentioned here that the Economic Prosperity Partnership Dialogue comes days after US President Biden raised the Taiwan issue with his Chinese counterpart Xi Jinping in a virtual summit on November 16. The meeting between Biden and Jinping took place for more than three hours but the two leaders made no substantial progress on Taiwan and the South China Sea issue. 

According to Five College Peace and World Security Program Director Professor Michael Klare, both presidents were adamant in establishing their basic objectives, with China not bending towards the Taiwan issue, while the US showed no compromise on the South China Sea. 

Further, a statement from the White House claimed that the United States strongly opposes unilateral efforts to change the status quo or undermine peace and stability across the Taiwan Strait.

EPPD 2020

As per the US State Department, topics covered at the EPP Dialogue last year included the Clean Network Initiative, 5G and telecommunications protection, distribution chains, financial screening, clean infrastructure cooperation, renewable resources, international health, technology and science, women's economic empowerment, academics, and entrepreneurship. 

During the first meeting, AIT and TECRO also declared their desire to negotiate a Scientific and Technology Agreement to improve shared knowledge and collaboration on a wide variety of science and technology matters, as a demonstration of the nations sustained and increased dedication to science and technology partnership. 

(Image: AP)