U.S.-Taiwan Bilateral Investment Agreement Receives Congressional Support

WASHINGTON, DC--(Marketwired - Nov 1, 2013) - In connection with the 2013 Global Service Summit, the Coalition of Services Industries (CSI) and the Taiwan Coalition of Service Industries (TWCSI) held a wide-ranging breakfast roundtable discussion on October 31^st, focusing on services and investment issues that are crucial to the bilateral relationship to the U.S. and Taiwan. The event was concluded by a joint statement emphasizing that a Bilateral Investment Agreement (BIA) would provide investors in both economies greater assurances that the capital they are investing in each other's market will be adequately protected.

The program was opened by CSI President Peter Allgeier and TWCSI Secretary General Louisa Su and they welcomed congress members giving their supports to this topic. Senior policy advisor for Senator Harry Reid, Ayesha Khanna stressed the importance of TIFA as a building block for future economic relationship between the U.S. and Taiwan; Congresswoman Judy Chow sent her remarks from a video statement that with the amount of investment from Taiwan to California, she would be delighted to see positive progress of a BIA between the U.S. and Taiwan. In addition, a number of Congressional members have expressed strong support for concluding the BIA via other means, including Senators James Inhofe (R-OK), Bob Menendez (D-NJ), Representatives Ed Royce (R-CA) and Steve Chabot (R-OH). 

Dale Jieh, Deputy Chief Negotiator of the Office of Trade Negotiations in Taiwan's Ministry of Economic Affairs gave a keynote speech which he emphasized how a bilateral instrument such as BIA would facilitate business activities. A panel discussion, moderated by Gee San of Taiwan External Trade Development Council followed, focusing on the importance of services and investments as keys to Taiwan's global economic success. The panel provided viewpoints representing both governments and private sectors, urging the U.S. and Taiwan governments to make the BIA a reality for businesses in both economies. The panelists included Christine J. Bliss, Assistant U.S. Trade Representative for Services and Investment; Eric Chiang, Senior Advisor of the Taipei Economic and Cultural Representative Office; Hung-lieh Liang, Director, PricewaterhouseCoopers Legal, Taiwan; and Josh Kallmer, Counsel, Crowell & Moring, LLP. 

This goal was echoed by the CSI-TWCSI joint statement, which underlined the complementary nature of the services-led economies: "The U.S. has a strong, competitive and diversified services industry, while Taiwan has a strong manufacturing base and plays a key role in the operation of global supply chains." Further, the two organizations concluded that a BIA would "leverage this existing synergy by giving investors in both economies greater assurances that the capital they are putting at risk in each other's market will be adequately protected." 

About TWCSI
Taiwan Coalition of Service Industries ( TWCSI ) was established in 2007 to highlight the importance of trade in services, which accounts for almost 70% of GDP in Taiwan. TWCSI directly engages with individual companies and organizations, and plays an important role in helping its members reach out to international trade opportunities. The goal of TWCSI is to promote the continuing development and competitiveness of service industries in Taiwan by promoting the development of a "service friendly environment" in Taiwan; providing a focal point for liaison with the government; establishing and maintaining cooperation between members of Taiwan's service industries for the purpose of achieving common goals; representing the interests of service industries in Taiwan and to formulate policies and make submissions on behalf of our members; promoting fair, effective and comprehensive international and multilateral rules for trade in services; and establishing and developing links with counterpart organizations around the world.