On behalf of the government and people of the Republic of China (Taiwan), Director-General and Mrs. Scott Lai and Deputy Director Lilian Hung of the Taipei Economic and Cultural Office in Boston met Lieutenant Governor Daniel J. McKee in Providence on January 30, and expressed Taiwan’s desire to strengthen cooperation with Rhode Island in various areas.
Lieutenant Governor McKee welcomed Mr. Lai and expressed his appreciation for being invited to visit Taiwan and attended the 106th National Day of the Republic of China (Taiwan) in October, 2017. The Lieutenant Governor also expressed his interest in attracting Taiwanese companies to invest in Rhode Island and strengthen higher education exchange. Mr. Lai said that he looks forward to cooperating with Rhode Island, known for excellent investment opportunities and technical talent.
Taiwan and the United States maintain a close economic relationship. Taiwan is the U.S.’ tenth largest trading partner, with a total of $65 billion in 2016 and Taiwan is the U.S.’ second largest per capita consumption of agricultural products. In terms of bilateral trade, the U.S. is Taiwan’s largest source of foreign investment while. Taiwan’s investment in the U.S has created more than 320,000 jobs.
Taiwan and Rhode Island share a close relationship. Taiwan is Rhode Island’s fifth largest export market, and the second largest in Asia, with a total of $101 million in 2016 (an increase of nearly 155.82 percent over last year). Major exports to Taiwan include machinery and electronics. Taiwan is Rhode Island’s twentieth largest import market, with a total of $40 million in 2016.