Gov. Greg Abbott met with Taiwan President Lai Ching-te on Sunday to mark the launch of the State of Texas Taiwan Office.
The State of Texas Taiwan Office was established under the governor’s Economic Development & Tourism Office and will “facilitate closer cooperation and foster mutually beneficial economic growth and cultural exchange,” according to a press release.
Abbott traveled to Taiwan to announce a series of economic initiatives.
“I was honored to meet with President Lai Ching-te today to discuss strengthening the economic and cultural bond between Texas and Taiwan,” Abbott said.
“Both Texas and Taiwan have experienced miraculous economic growth in the last few decades, becoming pivotal economies for our regions and driving the future of innovation by providing economic freedom and opportunity for our people,” he continued. “I congratulate President Lai on his recent inauguration and look forward to working together to deepen our partnership as we build a stronger future for both Texas and Taiwan.”
The meeting with Ching-te marked the start of Abbott’s economic development trip to Taiwan, South Korea, and Japan.
Abbott also met with Taiwan Minister of Foreign Affairs Cho Tae-yul and Doris Hsu, the chairman and CEO of GlobalWafers and Sino-American Silicon Products.
The governor announced the signing of an Economic Development Statement of Intent (EDSI) between Texas and Taiwan, which aims to “encourage more investment, trade, and collaboration in key industries to support the future of innovation,” per the press release.
According to Abbott, trade between Texas and Taiwan totaled $21.3 million in 2023. This economic value makes Taiwan Texas’ seventh-largest trade partner. The island nation invested more than any country in Texas in 2022, with $5 billion.
More specifically, Taiwanese companies invested $5.29 billion in Texas over the past decade through eight projects, the governor noted. These projects created 2,200 jobs in the Lone Star State. Two projects were launched this year, totaling $103 million in investments and 220 new jobs.
Abbot was joined in Taiwan by First Lady Cecilia Abbott, Secretary of State Jane Nelson, Rep. Angie Chen Button (R-Richardson), and several other state leaders. The trip was sponsored and paid for by the Texas Economic Development Corporation, a nonprofit that works with the governor to boost investments in the state.
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