Director General Joseph Ma was invited to make a keynote speech on Taiwan’s Role in the Indo-Pacific and U.S.-Taiwan Partnership at the Rotary Club of San Mateo on September 5, 2019. Director General Ma said that this year marks the 40th anniversary of the Taiwan Relations Act, which was enacted on April 10, 1979. TRA has not only provided a legal foundation of our enduring US-Taiwan relations over the past 40 years but also has been a cornerstone in maintaining peace and stability, which has allowed Taiwan to blossom into one of the world’s leading free-market democracies.
Director General Ma said that the Taiwan-U.S. partnership has strengthened considerably in recent years. The U.S.’ bipartisan support on Capitol Hill is phenomenal, as we witness the House and Senate pass bills, legal clauses and statements supporting Taiwan one after another. Ma emphasized that the whole world has well seen Taiwan’s successful transformation into a beacon of freedom and democracy, and the most vital common value between Taiwan and America is democracy and good governance. That Taiwan and the U.S. jointly launched the Indo-Pacific Democratic Governance Consultation in March of this year reflects a shared commitment to promote freedom, democracy, and rule-based order in the region and beyond.
Security is also the pillar that sees growing cooperation between our two countries, Director General Ma said. The Taiwan Relations Act laid out a framework to provide Taiwan with defensive weapons. The Trump Administration’s decision to sell 66 F-16V fighter jets to Taiwan in August of this year will greatly enhance Taiwan’s air defense capabilities, strengthen its self-defense capabilities, and safeguard the freedom and wellbeing of the Taiwanese people. This sale is even more meaningful for security and stability in both the Taiwan Strait and the region as China continues its frequent military maneuvers in these areas.
In terms of Taiwan-U.S. economic partnership, Director General Ma said that although Taiwan has a comparatively small population of 23 million, Taiwan was ranked as the world’s 21st-largest economy in 2018 and 19th largest trade country in 2017. As of July 2019, with total foreign exchange reserves amounting to US$467.23 billion, Taiwan is the world’s sixth-largest holder behind China, Japan, Switzerland, Russia, and Saudi Arabia. In terms of global competitiveness, Taiwan was also ranked number 13 by the World Economic Forum’s 2018 Report. The report also described Taiwan as a “super innovator” as one of the four economies, alongside Germany, Switzerland, and the U.S.
As for U.S.-Taiwan trade relations, the most recent available statistics (2018) show that two-way trade between Taiwan and the U.S. reached $76 billion, a new high for the bilateral relationship. Taiwan is the 11th largest global trading partner of the US overall. Despite its small size, Taiwan is the 15th largest export market in the world for the U.S. goods and the 9th largest purchaser of U.S. agricultural products. U.S.’s Trade and investment with Taiwan supports 373, 288 well-paid American jobs in all 50 states, 124,380 jobs in California alone.
Director-General Ma explained that as American manufacturers come to depend heavily on digital technology, artificial intelligence, robotics and e-commerce, Taiwan will be a strong, reliable, secure and stable partner in this transformation. Taiwan is an active proponent of new international rules and norms to govern these emerging areas of global commerce. Ma also emphasized that Taiwan is the vital link in the center of the region, and so connects global supply chains and economic activities so that all work together. In recent decades, Taiwan has been an important player in the global ICT industry. With its strength in manufacturing, R&D, and innovation, Taiwan’s semiconductor and the ICT industry have continuously increased its global presence in the past years. To continue playing a significant role in the future global hi-tech industry, Taiwan government has made strengthening the connection with Silicon Valley as one of our top priorities.
Regarding the U.S.-China trade issue, Director General Ma said that due to intensified competition between the U.S. and China, global supply chains are undergoing fundamental transformations as more and more companies are moving (or considering moving) at least some parts of their operations out of China for fear of being caught in between. Taiwan government has eased relevant procedures for Taiwanese companies to relocate back to Taiwan.
Ms. Anne Campbell (President of the Rotary Club of San Mateo ) and Mr. Gary Hunt (Member) took a picture with Director General Ma
Members of the Rotary Club of San Mateo took a picture with Director General Ma