|
|
|
Benefits of the US-Taiwan FTA » State by State
|
|
Utah  
In 2006, Taiwan was Utah・s 15th largest export market, with exports to Taiwan valued at $81 million. Utah・s leading exports to Taiwan include food, chemicals, computer and electronic products, and agricultural Products. Still, with Utah・s exports accounting for a relatively small share of U.S.・ $23 billion exports to Taiwan, there remain substantial opportunities for growth in Utah-Taiwan trade. Utah・s former Governor, Ms. Olene S. Walker, visited Taiwan in December 2004 and signed a Cooperation Agreement with Taiwan's then Minister of Economic Affairs Mei-Yueh Ho to strengthen bilateral economic ties. It is clear that Utah and Taiwan share a string will to build closer economic and trade relationship.
Over the past several years, Taiwan has been pushing for the signing of a U.S.-Taiwan Free Trade Agreement. Once the U.S.-Taiwan Free Trade Agreement is signed, tariff reductions and greater trade facilitation would help Utah dramatically increase exports to Taiwan. Utah・s main exports, such as food, computer products, electronics, and chemicals, are in high demand in Taiwan. There is also a high demand from Taiwan for Utah・s metal, machinery, and agricultural products. If the U.S.-Taiwan Free Trade Agreement is signed, tariffs on most agricultural and industrial products will be eliminated, thus putting Utah in a better position to export to Taiwan. The Agreement will also help stimulate the development of Utah・s industries. In the past years, Taiwan businessmen have developed a considerable network in Asia, which would also help Utah・s products and services enter Asia Pacific markets. 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 Utah.
Recognizing the benefits for the State of Utah made possible by the U.S.-Taiwan Free Trade Agreement, the State Senate and House of Representatives of Utah has already passed a resolution supporting in 2003. As of April 2007, the U.S.-Taiwan Free Trade Agreement proposal so far has been endorsed by a total of 64 legislatures of 38 states, the Council of State Governments and related groups. We hope that the administration, Senate and House of Representatives of the State of Utah will similarly convey their strong support for the U.S.-Taiwan Free Trade Agreement to the Bush Administration.
|
|
|
