Arizona Commerce Authority Leads Delegation Visit To Taiwan

PHOENIX, AZ (September 3, 2024) - To further strengthen economic and trade ties, the Arizona Commerce Authority (ACA) is leading a delegation of more than 30 Arizona business, academia, and community leaders on an economic trade visit to Taiwan. The group delegation visit, which is taking place through September 6, 2024, features a packed schedule including meetings with Taiwan-based businesses and advancing partnerships in high-tech sectors such as semiconductors and bioscience.

On Monday, the ACA hosted an "Arizona Forum" through the Arizona-Taiwan Trade and Investment Office. The event, which drew more than 120 attendees from local companies and governments, featured panel discussions and presentations highlighting Arizona's workforce and business advantages. The group later toured Taipei Neihu Technology Park, Taiwan's largest science park.

Also on Monday, the Arizona-Taiwan Trade and Investment Office and the Taiwan-U.S. Industrial Cooperation Promotion Office (TUSA) hosted an evening reception, in which both parties signed a Memorandum of Understanding (MOU) focused on technology and workforce collaboration. The MOU aims to match strategic partners and create alliances for industrial cooperation and bilateral investment to enhance opportunities in Taiwan and Arizona in advanced technology, global readiness, trade, and competitiveness.

"We are proud to continue growing our valued partnership with Taiwan to increase future investment and trade opportunities," said Sandra Watson, President and CEO of the Arizona Commerce Authority. "The delegation visit provides an opportunity to connect and learn more from Taiwan business, education and community leaders, while showcasing Arizona's unique strengths and attractiveness in high-tech industries such as semiconductors, technology, and manufacturing. We're grateful to the Arizona-Taiwan Trade & Investment Office and all of the Taiwan partners for their support. We also want to express our thanks to the Arizona delegation for their continued partnership to advance Arizona's global competitiveness."

Additional planned activities during the week include touring Hsinchu Biomedical Science Park and meeting with Taiwan-based academic and research partners. On Thursday, Sandra Watson, and U.S. and Taiwan government and industry leaders will participate in a panel discussion hosted by the American Institute in Taiwan focused on investing in the U.S.

The ACA previously traveled to Taiwan in 2023 as part of a delegation led by Governor Hobbs. The ACA opened the Arizona-Taiwan Trade & Investment Office in 2023. Located in Taipei, the office serves as a platform to increase economic collaboration and foreign direct investment opportunities between Arizona and Taiwan.

Arizona companies exported $790 million worth of goods to Taiwan in 2023. Taiwan was Arizona's second-largest market for basic chemicals and third-largest market for semiconductors and other electronic components. Arizona imported $2.4 billion worth of goods from Taiwan and Taiwan was Arizona's largest import source for semiconductors and other electronic components and computer equipment.

Media Contact

Alyssa Tufts, Arizona Commerce Authority, [email protected]

About the Arizona Commerce Authority
The Arizona Commerce Authority (ACA) is the state's leading economic development organization with a streamlined mission to grow and strengthen Arizona's economy. The ACA uses a three-pronged approach to advance the overall economy: attract, expand, create - attract out-of-state companies to establish operations in Arizona; work with existing companies to expand their business in Arizona and beyond; and help entrepreneurs create new Arizona businesses in targeted industries. For more information, please visit azcommerce.com and follow the ACA on Twitter @azcommerce.

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