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EY welcomes 2nd phase of 21st century trade initiative

The contents of the second phase of negotiations within the U.S.-Taiwan Initiative on 21st Century Trade released by the U.S. are welcomed by the government and people, the Executive Yuan said April 6.
According to the EY, the U.S.-proposed draft focuses on areas spanning agriculture, environment and labor rights. Suggestions for the first area include sustainable agriculture and agricultural trade practices; ensuring food safety and security, protecting animal and plant health; as well as improving the transparency of regulatory procedure.
Regarding the environment, the U.S. raised concerns about climate change and proposed to deepen bilateral cooperation on clean energy and circular economy. As for labor rights, it also recommended strengthening the protection of migrant workers, promoting the labor rights of digital economy workers and improving working conditions on offshore fishing vessels.
In response, the EY said these recommendations will enable Taiwan to segue national environmental and labor laws with international standards, while strengthening local connections with global supply chains and enhancing the country’s agricultural exports.
The EY said Taiwan is committed to working with the U.S. to establish collaboration mechanisms for food security and innovative agricultural production technology. Both like-minded partners face workforce challenges and seek to jointly advance human rights together with business development, the EY said, adding that the two sides are also committed to promoting economic decarbonization and green jobs, and encouraging corporations to fulfill social responsibility and protect the global environment.
In the follow-up process, the EY’s Office of Trade Negotiations will cooperate with the Ministries of Agriculture, Economic and Foreign Affairs, Health and Welfare, Labor, the Interior, the Cabinet-level Financial Supervisory Commission and Ocean Affairs Council to consult with the Legislature and relevant stakeholders to seek consensus with the U.S., the EY added. (YCH-E)
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