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Benefits of the US-Taiwan FTA » State by State
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New Hampshire  
The United States and Taiwan share a close trade relationship. According to U.S. statistics, bilateral trade between Taiwan and the U.S. reached $61.2 billion in 2006. While New Hampshire・s total exports for that year reached $2.81 billion, its exports to Taiwan totaled $47.5 million. Taiwan is now New Hampshire・s 15th largest export market; however, that volume accounts for only a relatively small part of the total U.S. exports to Taiwan. There remain substantial opportunities for New Hampshire companies to expand their business with Taiwan. New Hampshire・s major exports to Taiwan include non-electrical machinery (45% of total exports to Taiwan), computer and electronic products (11.4%), and nonmetallic mineral products (8.7%). In the hopes of strengthening economic ties between the U.S. and Taiwan, including business opportunities for New Hampshire, Taiwan has been pushing for the signing of a Taiwan-U.S. Free Trade Agreement (the U.S.-Taiwan FTA).
Key industries in New Hampshire include machinery, computer equipment, electrical equipment and devices, fabricated metal products, leather, chemicals, transportation equipment, wood products, rubber products, natural stone, paper, textiles, and agriculture. Among these, machinery and computer equipment are the fastest growing industries and major exports of New Hampshire, with computer and electronics products accounting for $753 million, or 26.7%, of the state's total merchandise exports in 2006. Accordingly, the electrical equipment and components industries in New Hampshire produce annual sales of close to $2 billion. The measuring, analytical and calibration instrumentation industry in New Hampshire is also one of the state・s fastest growing export industries, while search and detection equipment, measurement devices, x-ray tubes, photographic equipment and a variety of other instruments account for 8% of New Hampshire・s total exports. Furthermore, New Hampshire has more than 1,400 companies in the software and information technology sector. In the aforementioned sectors, Taiwanese companies have gained a considerable share of the world market due to their competitive advantages in manufacturing and R&D. Strategic alliances and technical cooperation between businesses in Taiwan and New Hampshire should be very promising. Through the immediate elimination of tariffs and other trade facilitation measures, the signing of the U.S.-Taiwan FTA would help all of these important industries increase their exports to Taiwan. Furthermore, it would enhance the competitiveness of New Hampshire industries and help local businesses enlarge their market share in Taiwan. Issues involving intellectual property rights protection, which is a major concern to high-tech industries, would be covered in the FTA negotiations and would surely come to a satisfying solution for both sides.
Manufacturing is also an essential part of New Hampshire's economy. Governor John Lynch has unveiled an action plan that provides resources to ensure the continued viability and health of the state・s manufacturing sector. Statistics show that more than one-fifth of all manufacturing jobs in New Hampshire depend on exports. Therefore the signing of the U.S.-Taiwan FTA would expand New Hampshire・s manufacturing exports and further facilitate the development of New Hampshire・s manufacturing industry, especially in electrical equipment and machinery. Furthermore, according to a report from the Beacon Hill Institute in 2006, New Hampshire, one of the leading high-tech states in the U.S., ranked 3rd in the nation in economic competitiveness. We believe that the U.S.-Taiwan FTA would enhance the economic partnership between Taiwan and New Hampshire, help create more opportunities for high-tech industry collaborations and further stimulate New Hampshire・s economic growth.
Taiwan is very competitive in the field of technology application and manufacturing and could thus complement U.S. companies・ research and development. There are studies showing that the economic advantages from an FTA with Taiwan will far exceed those from most FTAs that the U.S. has already signed. This is especially true for New Hampshire. 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. We welcome and applaud the passing of a resolution by the New Hampshire House of Representative in support of the U.S.-Taiwan FTA in 2006. It is our hope that the administration, the Senate and the House of Representatives of the State of New Hampshire will continue to convey their strong support for the U.S.-Taiwan FTA to the Bush Administration.
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