Taiwan Will Pay Up To $5.12 Billion For Midwest Soybeans And Corn
WISCONSINREPORT.COM (09/29/2011) - Taiwanese visitors stopped in the Capitol of Wisconsin today to visit Governor Scott Walker and sign a letter of intent to purchase agricultural crops produced by Wisconsin farmers. The delegation is looking at trying to purchase a large amount of soybeans and corn totaling several Billion tons, worth multiple Billions of dollars.
Governor Scott Walker welcomed members of the Taiwan Agricultural Trade Goodwill Mission to Wisconsin. The purpose of the Taiwanese delegation’s visit is to strengthen import/export relations between Taiwan and Wisconsin, as well as other Midwestern states.
Members of the delegation and members from Wisconsin state government and the Wisconsin Soybean Association signed a “Letter of Intent to Purchase” at today’s meeting.
The “Letter of Intent to Purchase” states that Taiwan will intend to purchase soybeans and corn from Midwestern states over the next two years at an estimated value for all purchases to fall between $4.1 billion and $5.12 billion.
“On behalf of the people of our state, I welcome Dr. Bao-Ji Chen and members of the Taiwan delegation to Wisconsin,” Governor Walker said.
“Trade agreements like this between Taiwan and Wisconsin are an important part of what both countries must do to remain competitive in our global economy," Governor Walker continued.
"Taiwan was Wisconsin’s largest export market for corn and Wisconsin’s fourth largest export market for soybeans last year. It is important to maintain strong relations with our sister state of Taiwan, and I thank members of the delegation for their visit to our great state,” Governor Walker went on.
Members of the Taiwan Agricultural Trade Goodwill Mission:
- Dr. Bao-Ji Chen, Taiwanese Delegation Leader
- Perry Pei-hwang Shen, Director-General Taipei Economic and Cultural Office
- Yau-kuen Hung, Chairman of Taiwan Feed Industry Association
- 0Han-Yeh Wang, Chairman of Taiwan Vegetable Oil Manufacturer’s Association
Members of the Wisconsin Delegation:
- Governor Scott Walker
- Lieutenant Governor Rebecca Kleefisch
- Secretary Ben Brancel, DATCP
- Deputy Secretary Jeff Lyon, DATCP
- Brian Long, Wisconsin Corn Growers Association
- Robert Karls, Wisconsin Soybean Association
This is the first ever stop in Wisconsin for the Taiwan Agricultural Trade Goodwill Mission. The delegation also traveled to Des Moines, Iowa and Rockford, Illinois.
In addition to the signing of the “Letter of Intent to Purchase,” members of both delegations participated in a ribbon cutting ceremony for the “Enchanting Taiwan” photo exhibit on display at the Wisconsin State Capitol.
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