HM45 asserts New Mexico's position in fostering bilateral trade with Taiwan, emphasizing the state's growing export market, where Taiwan was the eleventh-largest export market in 2020. The memorial points out that various Taiwanese companies have established operations in New Mexico, contributing to local job creation. It suggests that strengthening these ties could enhance economic opportunities for New Mexico, particularly in technology and supply chain resilience sectors.
Summary
House Memorial 45 (HM45) aims to strengthen the relations between New Mexico, the United States, and Taiwan. It underscores the importance of trade, exchange of visits between officials, and support for Taiwan's participation in international organizations. The memorial highlights the significant economic ties, noting that trade between the U.S. and Taiwan reached approximately $105.9 billion in 2020, with Taiwan ranking as the ninth-largest trading partner of the U.S. Furthermore, it indicates that Taiwan supported over 373,000 jobs in the U.S.
Contention
While HM45 supports the expansion of economic and cultural ties with Taiwan, it is not without its controversies. Some may argue that focusing on international trade could divert attention from pressing local issues. Additionally, any significant diplomatic engagement with Taiwan may invoke reactions from the People's Republic of China, which may view such actions as a challenge to its claims over Taiwan, potentially complicating New Mexico's international relations.
Notable_points
The memorial reflects on past legislative efforts and the broader context of U.S.-Taiwan relations, including letters sent by U.S. congress members encouraging negotiations for a bilateral trade agreement. By framing Taiwan's participation in international organizations and continued economic cooperation as essential, HM45 aims not only to solidify trade links but also to align New Mexico with national interests regarding Taiwan.
Reaffirming Wisconsin’s commitment to the strengthening and deepening of the sister ties between the State of Wisconsin and Taiwan, reaffirming Wisconsin’s support for the Taiwan Relations Act, supporting Taiwan’s signing of a Bilateral Trade Agreement with the United States, and continuing support for increasing Taiwan’s international profile.
Reaffirming Wisconsin’s commitment to the strengthening and deepening of the sister ties between the State of Wisconsin and Taiwan, reaffirming Wisconsin’s support for the Taiwan Relations Act, supporting Taiwan’s signing of a Bilateral Trade Agreement with the United States, and continuing support for increasing Taiwan’s international profile.