By Caribbean News Global 
MIAMI, USA – On January 8, Taiwan and Florida signed a memorandum of understanding (#MOU) on bilateral economic and trade cooperation during an online ceremony. The agreement was signed by Cynthia Kiang, International Trade Administration, Ministry of Economic Affairs (MOEA), Taiwan, and Alex Kelly, Secretary of the Florida Department of Commerce.
The memorandum is expected to strengthen future collaboration and exchanges between Taiwan and Florida. The Taiwan-Foshan economic and trade cooperation memorandum signed includes strengthening mutual visits and industrial information exchanges, as well as cooperation in semiconductor manufacturing, advanced manufacturing, aerospace, biotechnology and medical care, agricultural technology and supply chain resilience.
Director-General Chou and Section Director Frank You from the Taipei Representative Office in Miami, (TECO) along with Matt Swanson, Acting President of SelectFlorida, were present to witness the signing.
Florida’s GDP is about $1.647 trillion, the fourth largest economy in the United States, responsible for 5.82 percent of the United States’ approximately $28 trillion gross domestic product (GDP).
Approximately 70 Taiwanese businessmen are investing and operating in Florida developing high-tech, biotech and medical industries. This close economic and trade interaction is of great importance to Taiwan.
Taiwan and Florida established a sister relationship in 1992. In 2023, the bilateral trade volume reached US$1.199 billion. Taiwan is the 8th largest trading partner of the United States and the 7th largest trading partner of Florida.
Taiwan is an important partner in Canada, the United States, Latin America and the Caribbean. Taiwan is an important partner for Florida’s future development, as noted in the #MOU to which both parties further committed to exchanges and cooperation in semiconductors, aerospace, life sciences, agricultural technology, etc.
Florida ranks among the best in tourism, aerospace, and medical equipment and serves as an important logistic hub connecting the United States, Latin America and the Caribbean.
Taiwan has a clear vision to bring together Taiwan and the United States’ key stakeholders to establish and expand operations bilaterally.
Information accessibility and resource coordination connecting companies are vital resources for a successful integration of US and Taiwan companies. Providing the networking and platforms for two-way investment reflects growth opportunities. This likewise, serves to continue delivering economic value and further solidify US-Taiwan economic ties.
“Taiwan attracts a wide range of US investors in advanced technology, manufacturing, and services sectors. As of 2023, the United States is Taiwan’s second-largest single source of FDI after the Netherlands, through which some US firms also choose to invest. In 2022, according to the US Department of Commerce data, the total stock of US FDI in Taiwan reached $16.7 billion. US services exports to Taiwan totalled $11.6 billion in 2023,” says 2024 investment climate statements, Taiwan.
