United States, Taiwan, Japan, and EU cohost the vGCTF Workshop on Supply Chain Restructuring and SME Financing

GCTF on supply chain restructuring and SME financing

April 14, 2021

United States, Taiwan, Japan, and EU cohost
the Virtual Global Cooperation and Training Framework (vGCTF) Workshop
on Supply Chain Restructuring and SME Financing

The American Institute in Taiwan (AIT) was pleased to cohost a one-day virtual Global Cooperation and Training Framework (vGCTF) workshop on Supply Chain Restructuring and SME Financing with the Taiwan Ministry of Foreign Affairs, the Japan-Taiwan Exchange Association (JTEA), and first-time host the European Economic and Trade Office in Taiwan (EETO).  This was the first time the GCTF discussed the important topic of securing diverse and resilient supply chains in the Indo-Pacific and how the financial services industry can support small and medium enterprises (SMEs) to create a new ecosystem of supply chains for the evolving global economy.

AIT Director Brent Christensen joined MOFA Minister Joseph Wu, JTEA Chief Representative Izumi Hiroyasu, and EETO Head Filip Grzegorzewski in delivering opening remarks. With the new Executive Order issued by President Biden in February, Director Christensen reaffirmed the United States’ strong partnership with Taiwan to build upon the supply chain restructuring efforts that AIT launched with Taiwan in 2020, including through the AIT-TAITRA joint statement and U.S.-Taiwan Economic Prosperity Partnership Dialogue.

“In this effort to secure critical supply chains we are eager to partner with like-minded countries and partners who share similar values of trust, rule of law, and strong protections of intellectual property. We believe that these shared values in turn enrich communities and economies in the Indo Pacific,” Director Christensen said.

The Bankers Association of the R.O.C. Chairman Joseph Jye-Cherng Lyu, Taiwan External Trade Development Council Chairman James Huang, Taiwan Academy of Banking and Finance President Hank Huang, AIT Deputy Economic Chief Arati Shroff, and other experts presented at the workshop to share experiences and best practices for improving supply chain resiliency in the Indo Pacific. Industry development experts, government officials, and specialists in SME finance and business development from countries in Asia, Middle East, and Europe joined the webinar to take lessons learned back to their own environment to make our economies stronger as we develop resilient and diverse supply chains for the future.