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Benefits of the US-Taiwan FTA » State by State
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Arizona  
In 2006, Taiwan was Arizonaˇ¦s 12th largest export market, with exports to Taiwan valued at $381 millionˇAposting a 65.85% growth. Leading exports include computer and electronic products, machinery, transportation equipment, electrical equipment, and chemicals. Still, with Arizonaˇ¦s exports accounting for a relatively small share of the total $23 billion exports from the U.S. to Taiwan in 2006, there remain substantial opportunities for growth in Arizona-Taiwan trade. Statistics show that Taiwanˇ¦s demand for Arizonaˇ¦s computer and electronic products, electrical equipment, chemicals, transportation equipment, agricultural products and primary metal products has been gradually increasing. Accordingly, in the hope of strengthening economic ties between the U.S. and Taiwan, including business opportunities for Arizona, Taiwan has been pushing for the signing of a U.S.-Taiwan Free Trade Agreement.
Key industries in Arizona include IT, aerospace, and precision machinery. Exports are responsible for creating 6.1% of this stateˇ¦s employment. Arizonaˇ¦s main exports, including computer and electronic goods, aerospace products, and precision instruments are in high demand in Taiwan. Once the U.S.-Taiwan Free Trade Agreement is signed, tariffs on the majority of agricultural and industrial products would for the most part be eliminated. This would not only help Arizona export more high-tech products to Taiwan but also help Arizonaˇ¦s electrical equipment, chemicals and primary metal manufactures to develop the Taiwan market.
The combination of favorable treatment under the U.S.-Taiwan Free Trade Agreement, Taiwanˇ¦s advantageous geographic position and Taiwanˇ¦s experience and marketing channels in the Great China market would help Arizonaˇ¦s entrepreneurs use Taiwan as a regional hub to penetrate Asian markets, including the Great China market. Studies have shown that the economic advantages from an FTA with Taiwan may far exceed those from most FTAs that the U.S. has already signed. This is especially true for Arizona.
As of April 2007, the U.S.-Taiwan Free Trade Agreement proposal has been endorsed by a total of 64 legislatures of 38 states, the Council of State Governments and the National Association of Secretaries of State. Given the great benefits to the State of Arizona made possible by the U.S.-Taiwan Free Trade Agreement, we hope that the administration, Senate and House of Representatives of the State of Arizona will similarly convey their strong support for the U.S.-Taiwan Free Trade Agreement to the Bush Administration.
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