On March 20, BOFT Director General Cynthia Kiang and Secretary of the Kentucky Cabinet for Economic Development Jeff Noel signed a collaboration agreement on economic and trade cooperation.

The agreement will be beneficial for both sides because it will assist enterprises to grasp business opportunities through various activities in the future. With this agreement, Taiwan and Kentucky State will expand cooperation in EV, aerospace, metals, and agriculture sectors.

At the end of 2021, the Ministry of Economic Affairs and the U.S. Department of Commerce jointly launched the U.S.-Taiwan Technology Trade and Investment Collaboration (TTIC) framework that aims to improve partnership on bilateral trade, investment, and technology. Strengthening economic and trade ties with various states is also one of TTIC's priorities.

Kentucky State is an EV manufacturing stronghold in the U.S., and Taiwan has more than 12 years of experience in the development and manufacture of EVs and their key systems. Taiwanese companies with excellent foundations in the ICT and semiconductor industries, and many component companies have entered the international EV supply chain.

The industries of Taiwan and the United States are complementary to each other, and there are many areas of common interest for further cooperation. There will be considerable business opportunities in EV development, research, and manufacture cooperation if both sides could set up an EV-related supply chain in the future.

Exchanges of market information and economic and trade delegations will enhance business matchmaking opportunities and assist companies from both sides to lay out in each other's markets, and thus achieve mutual benefits.