Two days of “conceptual discussions” between Taiwan and the United States under a trade initiative unveiled in June concluded on Wednesday, with both sides agreeing to future talks.

Delegations from both Taiwan and the U.S. had fruitful discussions over the past two days in New York in accordance with the “negotiating mandate” previously put forth by the two sides under the U.S.-Taiwan Initiative on 21st-Century Trade, the office of the United States Trade Representative said in a press release.

The release said that both sides had agreed to continue talks in the form of future in-person discussions and virtual meetings.

At the launch of the U.S.-Taiwan Initiative on 21st-Century Trade in June, the two sides said they aimed to reach new trade agreements with “high-standard commitments and economically meaningful outcomes.”

The negotiating mandate outlines 11 trade areas to be addressed under the initiative, including trade facilitation, good regulatory practices, corruption, SMEs, agriculture, standards, digital trade, labor, environment, state-owned enterprises, and nonmarket policies and practices.

Washington and Taipei created the initiative in the wake of Taiwan’s exclusion from the Indo-Pacific Economic Framework (IPEF).

The IPEF, a U.S.-led multilateral partnership involving 13 other countries, has been touted as a bulwark against China’s growing economic influence in the region.

In a separate press statement issued on Thursday (Taipei time), Taiwan’s Office of Trade Negotiations said the meetings from Nov. 8 to 9 yielded “positive” and “productive” results and would be “very helpful” to subsequent developments of the initiative.

According to the statement, both sides focused their discussions on the overall legal systems as well as policy and practice for maintaining favorable business environments.

The Taiwanese delegation that took part in the meetings was headed by Yang Jen-ni (楊珍妮), deputy trade representative of the Office of Trade Negotiations. It also comprises officials from the Ministry of Finance, the Ministry of Justice, the National Development Council, the Ministry of Economic Affairs, and the Taipei Economic and Cultural Representative Office in the U.S.

The U.S. delegation, led by Assistant United States Trade Representative Terry McCartin, includes representatives from the National Economic Council, the Department of Commerce, the Department of Treasury, the Small Business Administration, and the Food and Drug Administration.

Source: Focus Taiwan News Channel