For Immediate Release: November 1, 2012
Contact: Mary Trupo (202) 482-3809
Obama Trade Official Promotes Expanded Exports, Investment, and Travel and Tourism During Taiwan Visit
TAIPEI, Taiwan – U.S. Under Secretary of Commerce for International Trade Francisco Sánchez today celebrated Taiwan’s designation into the United States Visa Waiver Program (VWP). Throughout his visit to Taipei, Sánchez highlighted the mutual economic benefits that expanding travel, trade, and investment would bring to our two economies in meetings with President Ma Ying-jeou and other public and private sector officials.
“Our bilateral trade and investment flows help spur innovation and provide consumers with greater choices to meet their needs and preferences,” Sánchez said during remarks to the Taiwan business community. “We fully recognize that strong economic partnerships like ours are critical to America’s future.”
Taiwan is the United States’ 10th largest trading partner. In 2011, U.S. exports to Taiwan were approximately $26 billion, with two-way trade exceeding $67 billion. Taiwan is a crucial part of high-tech global supply chains, and a major trading partner among the fast-growing economies of the Asia-Pacific region.
Today’s launch of the VWP will allow qualified Taiwan passport holders to enter the United States for up to 90 days without a visa.
“The visa waiver program will make it easier for Taiwan businesses to explore opportunities in the United States,” Sánchez said. “We look forward to welcoming more visitors from Taiwan throughout America.”More than 300,000 travelers from Taiwan visit the United States annually, contributing more than $1.1 billion to the U.S. economy. The U.S. Department of Homeland Security designation of Taiwan into the VWP on October 2, will contribute to meeting the goals of the National Travel and Tourism Strategy, which aims to achieve 100 million international visitors to the United States generating $250 billion annually by the year 2021.
International Trade Administration
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