[Congressional Record Volume 147, Number 152 (Tuesday, November 6, 2001)]
[Senate]
[Pages S11488-S11492]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. BAUCUS:
  S. 1636. A bill to authorize the negotiation of a Free Trade 
Agreement with Taiwan, and to provide for expedited congressional 
consideration of such an agreement; to the Committee on Finance.
  Mr. BAUCUS. Mr. President. I rise today to introduce the United 
States--Taiwan Free Trade Agreement Act of 2001. This bill authorizes 
the President to begin negotiations with Taiwan on a Free Trade 
Agreement, FTA, and provides for fast track consideration of a 
completed agreement by the Congress. Like the U.S.-Jordan Free Trade 
Agreement that was passed earlier in the session, this bill emphasizes 
the importance of promoting sustainable development and maintaining 
strong labor laws.
  Over the past two decades, Taiwan has emerged as an important U.S. 
ally in the Asia-Pacific region. Together, we have worked to maintain 
peace and promote development throughout the region. As part of this 
process, the United States has committed itself to defending Taiwan 
from aggressive attacks, and provides millions of dollars annually in 
military aid to the island.
  Taiwan has emerged as a vocal supporter of U.S. policy throughout 
Asia and the world. After the September 11 terrorist attacks, Taiwan 
was one of the first nations to express condolences and offer whatever 
aid we might need.
  The ties between the United States and Taiwan extend beyond political 
ones, however.
  Taiwan is the United States' eighth largest trading partner, despite 
not yet being a member of the World Trade Organization. In 2000, the 
U.S. exported more than $22 billion worth of goods and services to 
Taiwan, more than we exported to either China or Hong Kong.
  The trade relationship between the United States and Taiwan has 
blossomed despite the fact that Taiwan is largely excluded from the 
international forums that help promote economic and political 
liberalization. For example, Taiwan is not a member of the United 
Nations.
  This international isolation will start to end in 2002, when Taiwan 
is scheduled to become a member of the World Trade Organization, WTO. 
As part of the membership process, Taiwan made a number of trade 
concessions to further liberalize its trade regime; the U.S. will 
benefit from the lowered tariffs and declining market barriers that 
were part of these concessions.
  There are opportunities in the Taiwanese market that we must look to 
seize. For example, U.S. agricultural producers have been particularly 
under-represented in the list of exports to the region.
  A U.S.-Taiwan FTA could eliminate the last barriers to U.S. exports 
to Taiwan. Exporters, particularly agricultural exporters, would 
finally have unfettered access to a market of more than 22 million 
people. Moreover, importers would benefit from reduced tariffs and 
easier customs regulations.
  The economic rationale for a U.S.-Taiwan FTA is indisputable. But the 
United States has always exported more than just its goods and 
services. This Nation's support of freedom and democracy throughout the 
world has been its most important trade policy for more than two 
hundred years.
  Taiwan shares these values and deserves the continued support, both 
political and economic, of the United States. Over the past fifty 
years, Taiwan has evolved from single-party rule to a nation of free 
and open elections, where the transfer of power takes place

[[Page S11492]]

smoothly and peacefully. Today, it is a vibrant democracy that is 
continuing to progress towards open markets and liberalized trade. 
Supporting this process with an FTA not only encourages Taiwan to 
continue its economic reforms, it also serves as an explicit example of 
the very real benefits of opening markets for those countries that are 
just beginning to participate in the global trading system.
  A free trade agreement with Taiwan is a concrete step that the United 
States can take towards supporting an ally that shares our values. The 
fact that such an agreement also promises concrete economic benefits to 
American farmers and manufacturers makes this process even more 
essential.
  I urge my colleagues to join me in supporting the United States-
Taiwan Free Trade Agreement Act of 2001.
                                 ______