Alexander Tah-ray Yui
Vice Minister of Foreign Affairs
Republic of China (Taiwan)
July 23, 2021
(As Delivered)
Good morning from Taipei!
At this difficult time during the COVID-19 pandemic, it is a great pleasure to meet with Taiwanese business leaders by videoconference. I also extend a heartfelt welcome to the Ambassadors of Guatemala, Honduras, and Nicaragua. We look forward to them sharing their extensive knowledge on economic integration and industrial development in Central America. I believe their involvement will help us identify many new business opportunities in the region.
On behalf of the Ministry of Foreign Affairs, I would also like to convey my deepest appreciation to Vice President and Minister of Economic Development of Honduras, María Antonia Rivera, Minister of Economics of Guatemala, Antonio Malouf, and Minister of Development, Industry and Trade of Nicaragua, Orlando Solórzano, for accepting invitations to deliver opening remarks at this event.
As global economic development and business activities have declined during the pandemic, countries around the world are prioritizing economic recovery within the context of disease control and prevention. Fortunately, the outbreak in Taiwan has been brought relatively under control, and people are now gradually returning to normalcy. Taiwan’s economy has also continued to grow, especially in the area of export trade.
Taiwan and Central American countries, although geographically distant, have long worked closely together, both politically and economically. Since Taiwan signed free trade agreements with Guatemala, Honduras, and Nicaragua, respectively, bilateral trade with these three countries has on average grown by 137 percent. Taiwan will continue to strengthen reciprocal trade and economic ties with our three diplomatic allies.
Taiwan and the three allies have established solid foundations for economic cooperation. Looking to future, we will focus on broadening cooperation and taking advantage of the opportunities offered by deeper integration.
Guatemala, Honduras, and Nicaragua all boast a strategic location, a young labor force, and rich natural resources. The three nations have utilized these competitive advantages to actively participate in the process of regional integration and strategically construct FTA networks that connect them to EU and US markets. There is enormous potential for business development and economic growth.
This presents a golden opportunity for Taiwanese entrepreneurs who can make the best use of opportunities presented by economic integration and bilateral FTAs. This is also the purpose of holding this webinar.
I would like to thank CIER and TAITRA for co-organizing this event. A video of today’s discussion will be uploaded onto the internet for business leaders who were unable to join the meeting because of the time difference.
In conclusion, I once again extend my appreciation to the three Ambassadors for their participation. I look forward to working closely together with Your Excellencies and Taiwanese entrepreneurs to achieve economic recovery in the postpandemic era. I wish today’s event every success and all the participants a fruitful and enjoyable meeting. Thank you!