US, Taiwan firms sign MOUs on renewable energy, 5G cooperation

Washington [US], October 16 (ANI): Amid its rivalry with China, the United States has extended its cooperation with Taiwan by signing seven MoUs to bolster cooperation in various key sectors ranging from renewable energy to 5G communications, media reports said.
Taiwanese Minister of Economic Affairs Wang Mei-hua while speaking to the media at a conference in Washington on Thursday said Taiwanese and US companies signed seven memorandums of understan(MOUs) in various areas during a high-level trade meeting to enhance cooperation in fields such as renewable energy and 5G communications, reported Taiwan daily The Liberty Times.
The Taiwanese delegation head Wang said that the MoUs can help the two countries enhance cooperation and stabilize global supply chains. The MoUs were signed at the first physical meeting under the Technology Trade and Investment Collaboration (TTIC) framework.
Among those who participated Taiwanese companies included state-run Taiwan Power Co (Taipower), Aerospace Industrial Development Corp, Quanta Cloud Technology, HTC Corp, TMY Technology Inc and Edgecore Networks Corp.
On the US side, representatives from General Electric Co (GE), Intel Corp, RingCentral Inc, Lumen Technologies and DuPont were present. One of the MOUs involves GE helping AIDC use hydrogen-based power-generation technologies to reduce greenhouse gas emissions and develop its own maintenance capabilities on a turbine-supported electrification project, the ministry said, reported The Liberty Times.
GE is also to work with Taipower to achieve its goal of net zero carbon emissions by 2050, the ministry said. The MOUs also cover information and communications technology cooperation in areas such as smart manufacturing, entertainment, healthcare and 5G connectivity, it said.
The TTIC meeting was the first since the body was established in December last year for Taiwan and the US to develop commercial programs and bolster critical technology supply chains.
Wang also said her trip also focused on facilitating exchanges between about 80 Taiwanese and US firms. The Economic Affairs minister said that the meeting bore fruit and saw positive outcomes. Talks are also underway for more TTIC meetings next year. However, the date and location were still to be decided.
As she wrapped up her visits, Wang is also to visit companies in Silicon Valley, including Applied Materials Inc. Minister Wang expressed hopes that her visit could generate orders and potential investments of up to New Taiwan USD 30 billion (USD 940.91 million).
Taiwan plays a critical role in the semiconductor industry which is supported by a solid industry cluster, high-quality talent and a sound legal framework for semiconductor intellectual property protection.
Stressing this significant role played by Taiwan, Minister Wang noted that any disruption to the semiconductor industry in Taiwan could have a severe impact on the global tech industry and world economy.
She also called for stable relations between Taiwan and China. This comes in the backdrop of the escalating tensions between Taiwan and China after US House Speaker Nancy Pelosi paid a high-level visit to the island nation. Pelosi's visit irked China so much so that Beijing carried out live military drills around Taiwan in a major show of its military might. (ANI)