TAITRA and Rhode Island Commerce Corp Ink MOU

On August 24, 2015, the Taiwan External Trade Development Council (TAITRA), Taiwan’s main trade promotion agency, represented by TAITRA’s executive vice president, Walter Yeh and the director-general of Service Industry Promotion Center under TAITRA, Chang Cheng-Fen signed a pack with Rhode Island Commerce Corp. of the US, represented by Rhode Island Secretary of Commerce, Stefan Pryor, and the chief operating office of the Rhode Island Commerce Corp. with the aim to deepen and promote Taiwan-Rhode Island bilateral trade and investment opportunities through business exchange, trade missions, and market information sharing. 

Taiwan and Rhode Island have strong trade ties, for in 2014 Taiwan was Rhode Island’s second largest export market in Asia and its seventh largest export market in the world.  In 2015, the Rhode Island government passed and adopted a pro-Taiwan resolution to reaffirmed the relationship with Taiwan.  The signing of the MOU will mark a new milestone in the Taiwan-Rhode Island bilateral trade partnership. 

According to official statistics, Taiwan’s exports to Rhode Island last year totaled  USD59.7 million last year and included machinery and components, optoelectronic products, medical and surgical equipment, and steel products. 

Rhode Island Commerce Corporation is the important economic development organization for the state of Rhode Island which has been devoted to promoting economic development of the state and providing businesses with relevant trade and economic services.  The focus of Rhode Island’s economy falls on health services, tourism, and manufacturing.

Yeh said that Rhode Island’s food and yacht industries are very competitive and invited delegations from the state to participate in Taiwan’s international food and boat exhibition in Kaohsiung organized by TAITRA in the future.  Yeh also welcomes Rhode Island to establish a trade center in Taiwan to enhance their cooperation.  TAITRA has so far signed 56 MOUs cooperation packs with various US private and public organizations, including the US Department of Commerce, state governments, and trade promotion agencies.  (August 2015)
/CCS