Trade groups in Taipei and the United States have set up a coalition to express support for a bilateral trade agreement, ahead of a planned economic dialogue led by U.S. Under Secretary of State Keith Krach.

The coalition, established by the American Chamber of Commerce in Taipei and the U.S.-Taiwan Business Council based in Virginia, would act as an advocacy group and hold workshops, roundtable meetings and lectures, and publish articles and strategy papers, AmCham Taipei said on Wednesday.

“AmCham Taipei and the USTBC also understand that a stable and economically vibrant Taiwan is in the best interests of the U.S. and its regional allies,” it said.

“Concluding a U.S.-Taiwan bilateral trade agreement would allow the two partners to continue to enhance the relationship based on mutual trust and shared values and take full advantage of the complementarity of their industries.”

Leo Seewald, president of AmCham Taipei, said it was an "opportune time to draw up a bilateral trade agreement given that the Taiwanese government earlier lifted restrictions on the import of American beef and pork products.

Taiwan under President Tsai Ing-wen was committed to trade liberalization, said USTBC President Rupert Hammond-Chambers, adding that the dichotomy of trading with either Taiwan or China was a “false choice.”

“The United States can pursue its commercial interests with China while it is also consummating an important and ambitious trade agreement with Taiwan. To place a hold on progress with Taiwan, a top 10 trading market, over Chinese concerns is self-censorship and contrary to American interests,” Hammond-Chambers said.

The Taipei Economic and Cultural Representative Office in the U.S. said it was looking forward to working with the coalition to push for a bilateral trade agreement. Industry support was crucial for the negotiation of such a deal, head of the office Hsiao Bi-khim said.

Analysts are hopeful about a bilateral trade agreement or a free trade agreement between Taiwan and the U.S., citing increasing U.S. investment in the self-ruled island over the past two to three years.

After a lapse of 35 years, the U.S. has once again become Taiwan’s second largest export market, according to analysts.

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