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Benefits of the US-Taiwan FTA » State by State
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Maine  
The United States and Taiwan share a close economic and trade relationship. According to U.S. statistics, in 2006 trade volume between Taiwan and the U.S. reached $61.2 billion. While Maine・s total exports in 2006 reached $2.6 billion, exports to Taiwan amounted to just $31.4 million, up 21.28% from the 2005 level. Although the increase was great, we believe there are more opportunities for Maine to export to Taiwan. Maine・s major exports to Taiwan include computer and electronic products, paper, non-electrical machinery, chemicals, and furniture and fixtures. In order to further build the trade and investment relationship between Maine and Taiwan, Taiwan is actively promoting the signing of a Free Trade Agreement between the U.S. and Taiwan (the U.S.-Taiwan FTA).
Maine is rich in natural resources. Its major industries include forestry, ocean-related industries, high-tech manufacturing and tourism. A large portion of Maine is covered with forest, making the paper manufacturing industry very important to the state・s economy. One third of Maine・s manufacturing output comes from paper manufacturing, and 10% comes from wood products. Other major agricultural and fishery products include blueberries, high quality lobster, salmon, tuna and other frozen fishery products. 8% of Maine・s total output comes from the food industry. The state・s emerging industries include biotechnology, financial services and semiconductors, areas in which there is a lot of potential for collaboration with Taiwan. At present, however, the majority of Taiwanese businesses in Maine are in the restaurant industry. It is clear that there are more opportunities for the governments of Maine and Taiwan to work together to attract more investment from Taiwan.
Maine・s major exports are computer and electronic products, paper, forestry products, fish and other marine products, and transportation equipment. These also make up Maine・s major exports to Taiwan. Meanwhile, the state・ economy relies heavily on small and medium enterprises (SMEs). Half of the state・s employment of 700,000 is provided by SMEs, and 57.6% of the state・s total exports come from SMEs. the U.S.-Taiwan FTA would increase Maine・s exports to Taiwan, create more employment and business opportunities for Maine・s SMEs and enhance bilateral investment and technical collaboration opportunities through tariff reduction and trade facilitation measures.
We believe that the U.S.-Taiwan FTA would benefit both Maine and Taiwan and make Maine・s products more competitive in Taiwan・s market. The U.S.-Taiwan FTA will strengthen the economic development of the state, deepen an important bilateral economic and trade relationship, and provide a springboard for Maine・s products and services to enter Asia-Pacific markets. In conclusion, it is clear that the signing of the U.S.-Taiwan FTA would be good for Maine and good for America.
As of April 2007, the U.S.-Taiwan FTA proposal has been endorsed by a total of 64 legislatures in 38 states, the Council of State Governments and the National Association of Secretaries of State. Given the great benefits to the State of Maine made possible by the U.S.-Taiwan FTA, we hope that the administration, the Senate and the House of Representatives of the State of Maine will express their support for the U.S.-Taiwan FTA to the Bush Administration.
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