07- R394

2007 -- H 5070 AS AMENDED

Enacted 06/30/07

J O I N T R E S O L U T I O N

SUPPORTING A TAIWAN -- U.S. FREE TRADE AGREEMENT (TUFTA)

Introduced By: Representatives Fox, Costantino, and Lewiss

Date Introduced: January 16, 2007

     WHEREAS, Taiwan and the United States share an important economic and strategic

international relationship; and

     WHEREAS, TUFTA advances the national interests of both Taiwan and the United

States; and

     WHEREAS, Both countries are members of the World Trade Organization (WTO), and

TUFTA would expand on the principles advanced by the WTO and the Asia-Pacific Economic

Cooperation; and

     WHEREAS, Taiwan and the United States share and promote a mutual belief in freedom,

democracy, antiterrorism and market principles; and

     WHEREAS, The level of mutual investment between Taiwan and the United States is

quite high. Taiwan is the 8th largest trading partner of the United States, and in 2005, United

States exports to Taiwan totaled $22 billion; and

     WHEREAS, The United States exports to Taiwan under TUFTA would expand by an

estimated $3.4 billion; and

     WHEREAS, Two-way investment flow would create new business and employment

opportunities, and would foster closer ties between Taiwanese and U.S. firms; and

     WHEREAS, Streamlined foreign investment procedures developed under TUFTA would

lead to further investment by firms in both Taiwan and the United States; and

     WHEREAS, TUFTA would stimulate joint development of advanced technology and

new high-tech applications, and promote new cooperative ventures; and

     WHEREAS, A 2002 study by the U.S. International Trade Commission supports the

negotiation of a Taiwan – United States Free Trade Agreement; and

     WHEREAS, TUFTA would build on the existing strong relations between Taiwan and

the United States to simultaneously boost Taiwan's security and democracy, and serve the broader

interests of the United States in the Asia – Pacific region; now, therefore be it

     RESOLVED, That the General Assembly of the State of Rhode Island and Providence

Plantations supports the negotiation of a Taiwan – United States Free Trade Agreement; and be it

further

     RESOLVED, That the Secretary of State be and he hereby is authorized and directed to

transmit duly certified copies of this resolution to President George W. Bush, U.S. Secretary of

Commerce Carlos Gutierrez, the Rhode Island delegation to the United States Congress, President

Chen Shui-bian on behalf of the 23 million citizens of Taiwan, and Director – General K.T. Yang

of the Taipei Economic and Cultural Office in Boston.

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LC00283

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