Taiwan: Bush recognize Taiwan's economic achievements
Taipei, Nov. 15 (CNA) U.S. President George W. Bush has recognized Taiwan's role in the global trade and economic system, saying the island's financial reforms and high-tech industrial development have created abundant business opportunities for business people from both countries.
Bush made the commendation in a congratulatory message read at the opening of an ROC-USA economic conference and modern engineering and technology seminar being held at the Taipei International Convention Center. In his written message, Bush lauded Taiwan for its relentless efforts to promote industrial upgrading and international trade.
Nowadays, Bush said, Taiwan plays an important role in global trade and economics. Bush also praised Taiwan's achievements in democratic development and its continued efforts in financial reforms and high-tech industrial development. President Chen Shui-bian also issued a written message marking the opening of the two-day conference which brought together many high-tech industry executives, crisis management experts and trade promoters from Taiwan and the United States to discuss a range of relevant topics. At a time when the global economy faces challenges from rising oil prices and terrorist attacks, Chen said he hopes the conference participants can offer valuable advice and initiatives to help Taiwan break bottlenecks in high-tech development and further boost Taiwan-U.S. trade and economic cooperation.
Douglas Paal, director of the Taipei office of the American Institute in Taiwan, which represents U.S. interests in Taiwan in the absence of formal diplomatic ties, delivered a speech at the opening ceremony. Paal said the United States has long been one of Taiwan's most important trading partners. Although the United States is no longer Taiwan's top export outlet, it remains Taiwan's second-largest market and bilateral economic ties have gotten even closer through technology transfers and the formation of joint-venture partnerships.
Wang Chung-yu, president of the ROC-USA Economic Council, which organized the ongoing conference, said Taiwan is at a critical juncture of industrial upgrading. He said he hopes the conference can help formulate feasible strategies and measures to contribute to Taiwan's high-tech industrial development and corporate restructuring and crisis management.