On January 21, 2021, the American Chamber of Commerce in Taiwan released the 2021 Business Climate Survey which conveyed U.S. companies’ optimism for the year ahead. The survey indicated that U.S. companies are supportive of a Bilateral Trade Agreement (BTA) between the United States and Taiwan.
The US-Taiwan Bilateral Trade Agreement Coalition welcomes the findings of this survey.
In a public message, AmCham Taiwan Chairman C.W. Chin stated that: “The top five priorities for the Tsai Ing-wen administration should be COVID-19 control, a bilateral trade agreement with the U.S., cross-Strait relations, energy supply, and talent development/retention.”
In the report, respondents enthusiastically supported bilateral agreements between the United States and Taiwan:
When asked how important it is that a bilateral trade agreement be signed between the U.S. and Taiwan, 65% of respondents regarded it as important for their business.
Screenshot from the AmCham Taiwan 2021 Business Climate Survey. Page S-8.
When asked how important it is that a double taxation agreement be signed between the U.S. and Taiwan, 53% of respondents regarded it as important for their business.
Respondents also saw Taiwan’s exclusion from multilateral/bilateral trade pacts as the major negative impact on their business:
When asked to what extent cyber security threats, intellectual property rights infringements, and Taiwan’s exclusion from multilateral/bilateral trade pacts would impact business operations and competitive positioning in Taiwan in the coming year, U.S. companies regarded Taiwan’s exclusion from multilateral/bilateral trade pacts as the major negative impact on their business.
Screenshot from the AmCham Taiwan 2021 Business Climate Survey. Page S-8.
Finally, respondents had unprecedented optimism about economic prospects for the coming year:
When asked about the confidence in the Taiwan’s economic growth over the next 12 months, a high 85.71% of those surveyed expressed confidence about 2021, including 27.55% saying they are “very confident.”
Screenshot from the AmCham Taiwan 2021 Business Climate Survey. Page S-3.
Source: American Chamber of Commerce in Taiwan 2021 Business Climate Survey