November 21, 2020
MEMORANDUM OF UNDERSTANDING
AMERICAN INSTITUTE IN TAIWAN
TAIPEI ECONOMIC AND CULTURAL REPRESENTATIVE OFFICE IN THE UNITED STATES
on establishing a
U.S.-TAIWAN ECONOMIC PROSPERITY PARTNERSHIP DIALOGUE
The American Institute in Taiwan (“AIT”), and the Taipei Economic and Cultural Representative Office in the United States (“TECRO”), each a “Participant” and collectively referred to as the “Participants”
Recognizing that U.S.-Taiwan cooperation is built on historically strong economic and investment ties, cultural affinity, shared democratic values, and a shared vision for the world that includes the rule of law, transparency, prosperity, and security for all;
Realizing that the strengthening of our economic relationship further magnifies our societies’ place within the community of democracies and bring us together by a shared belief in free-markets, entrepreneurship, and freedom;
Considering that our shared desire for a prosperous partnership has opened new areas of cooperation between our two economies by strengthening supply chains, empowering women in our economies, promoting safe and transparent foreign investment in critical sectors, and protecting our economies’ innovations and technologies from foreign interference;
Declare their intent in this Memorandum of Understanding (“MOU”) to expand economic prosperity between the territories by establishing an ongoing Economic Prosperity Partnership (EPP) Dialogue to address and advance mutually beneficial areas of our economic relationship.
For AIT, the Designated Representative is identified as the U.S. Department of State.
For TECRO, the Designated Representative is the Ministry of Economic Affairs or another designee identified in writing.
The Participants, with their Designated Representatives, intend to establish an ongoing economic dialogue, called the Economic Prosperity Partnership (EPP), focused on creating new, and bolstering existing, areas of cooperation across the economic relationship between the territories represented by the Participants.
Specific lines of effort for the EPP Dialogue may include but are not expected to be limited to: secure 5G networks and future telecommunications networks; preservation of an open, interoperable, reliable, and secure Internet; secure and transparent investments; safe, secure, and reliable supply chains and resilient manufacturing; science and technology as it relates to the economy; global health security including pandemic preparedness and response; women’s economic empowerment, including continued collaboration under the Global Cooperation and Training Framework and the Women’s Global Development and Prosperity Initiative (W-GDP); clean, transparent and readily available infrastructure finance; rapid logistics networks, including related to air cargo rights; semiconductor and advanced manufacturing investment and collaborative research and development; and safe, clean, and reliable energy sources and technology.
Recognizing that an enduring EPP Dialogue should reflect the most up-to-date policy priorities for the authorities represented by the Participants, the Participants intend to continue to assess, prioritize, add, and re-calibrate lines of effort, as necessary, in advance of future EPP Dialogues so that the United States and Taiwan can advance their shared economic interests for years to come.
The Participants, with their Designated Representatives, intend to meet at such time as mutually decided and may choose to create working groups or other mechanisms, as necessary, to maximize effectiveness in planning and carrying out future EPP Dialogues. Each Participant, in consultation with their respective Designated Representatives, intend to invite other relevant institutions in the authorities the Participants represent to participate in EPP Dialogues as appropriate.
This MOU does not create legally binding rights or obligations. All activities under this MOU are subject to the availability of appropriated funds and other resources, as well as any other applicable laws and regulations that may govern the Participants and their designated representatives.
The Participants intend to consult to resolve any difference concerning the interpretation or application of this MOU.
This MOU is intended to become operative upon the date of its signature by both Participants. Cooperation under this MOU is expected to continue for a period of five (5) years. It may be extended for further five-year periods by written decision of the Participants.
This MOU may be modified by written decision of both Participants.
The MOU may be discontinued at any time, but a Participant is expected to provide six-months written advance notice of its intent to discontinue the MOU.