Maroc - TAIWANTODAY.TW - Top News - 01/Apr 00:00

President Lai welcomes GTI delegation

President Lai Ching-te looked forward to working with the U.S. and other democratic partners to jointly uphold regional stability, supply chain security and global prosperity.   Lai made the remarks while receiving the Washington D.C.-based research body, Global Taiwan Institute, March 31 at the Presidential Office.   The president thanked GTI for its long-term support for Taiwan and noted that Taiwan believes that a free, open and peaceful Indo-Pacific is key to prosperity. He cited the fact that over 90 percent of advanced chips are manufactured in Taiwan and that over one fifth of global sea freight is transported via the Taiwan Strait.   The president went on to say that China uses economic coercion, grey zone tactics and military intimidation to challenge the status quo. He thanked the international media for raising awareness in the international community of the importance of regional stability.   Lai said that Taiwan actively enhances societal resilience and reinforces national defense capability, citing the fact that this year’s defense budget stands at over three percent of the gross domestic product. He added that the government has also proposed an eight-year special defense budget of US$40 billion as part of enhancing overall defense and for development indigenous equipment, the PO said.   The president noted that in 2010, over 83.8 percent of Taiwan’s foreign investment was in China; however, by 2025, this had decreased to 3.7 percent, with the U.S. becoming Taiwan’s largest overseas investment destination as well as Taiwan’s largest export market. Lai added that Taiwan and the U.S. have deepened economic and trade partnership and expanded technological innovation and industry development exchange.   Hoover Institution David and Diane Steffy Fellow in American Public Policy Studies, Lanhee J. Chen, who is a member of the GTI’s advisory board, anticipated further exchanges with the president. (POC-E)   Write to Taiwan Today at ttonline@mofa.gov.tw