Keith Krach-Led US-Taiwan Business Council Delegation Expands Trusted Collaboration with Taiwan

US Business Leaders Meet with President Tsai, President-Elect Lai and Vice President-Elect Hsiao; Pledge to Strengthen US-Taiwan Ties Based on Trust

TAIPEI, Taiwan–(BUSINESS WIRE)–The U.S.-Taiwan Business Council (USTBC) delegation, headed by former Under Secretary of State and Chairman of the Krach Institute for Tech Diplomacy at Purdue Keith Krach together with the USTBC President Rupert Hammond-Chambers, concluded its annual Chairman’s visit to Taiwan after a marathon of high-profile meetings aimed to express support for Taiwan’s vibrant democracy and enhance bilateral business ties.




The mission, which was timed shortly after Taiwan’s elections, focused on the importance of trust in the close relationship between the United States and Taiwan. Both the Taiwanese officials and members of the Global Trusted Tech Network and the USTBC delegation, which included senior executives from many of America’s and Taiwan’s prominent companies, including Google, Amazon, Intel, Uber, IBM, GE, ExxonMobil, Northrop Grumman, Lockheed Martin, KKR, Citibank, TSMC, MediaTek, and others, echoed the “trust” theme throughout the visit.

“Trust is the most important word in any language. You do business with people you trust. You partner with people you trust, and you love the people you trust,” observed Krach during the visit. “The U.S. and Taiwan trust each other. We have a bond rooted in shared values and grounded on the belief that there is no prosperity without freedom.”

Taiwan’s President Tsai Ing-wen greeted the group representing high tech, energy, finance, healthcare, aerospace, and defense industries: “This is the second time in the past six months that Chairman Krach has led a delegation to Taiwan to promote Taiwan-U.S. cooperation and exchange. On behalf of the people of Taiwan, I extend my sincerest welcome to all of you.”

In thanking Chairman Krach and the USTBC delegation, President-elect Lai Ching-te, who was joined by Vice President-elect Hsiao Bi-khim, added, “Your visit demonstrates the importance that American business leaders attach to the Taiwan market and sends a positive message by actively deepening cooperation with Taiwanese companies.”

Taiwan’s Premier Chen Chien-jen praised the initiatives launched by Keith Krach during his tenure as the Under Secretary of State, such as Economic Prosperity Partnership Dialogue (EPPD) and Science and Technology Agreement (STA), which led to two milestone achievements in 2023 – the U.S.-Taiwan Initiative on 21st-Century Trade and the Science and Technology Trade and Investment Cooperation. Chen said, “These mechanisms for establishing institutional exchanges on trade and economic issues contribute to the strengthening of the Taiwan-U.S. economic partnership.”

The USTBC delegation began the week-long visit with a briefing from the American Institute in Taiwan, then participated in sessions with Foreign Minister Joseph Wu, Finance Minister Chuang Tsui-yun, Economic Affairs Minister Wang Mei-hua, Digital Minister and Taiwan’s Commissioner on the Global Tech Security Commission Audrey Tang, Deputy Minister of the National Development Council (NDC) Kao Shien-quey, and Trade Minister John Deng, who, together with Krach, launched the inaugural Economic Prosperity Partnership Dialogue (EPPD) in 2020, now in its fourth year. USTBC also engaged with several regulatory agencies, including the National Communications and Fair Trade Commissions.

Taiwan External Trade Development Council (TAITRA) Chairman James Huang expressed “deep respect for Chairman Krach, known for his successful business career and vital role in several farsighted U.S. tech and business policies.” He noted that Krach’s “impactful work” at the State Department has been “crucial in bringing Taiwan and the U.S. closer, especially during difficult times like the COVID-19 pandemic.”

All engagements prominently featured the recently announced Taiwan Center for Innovation and Prosperity at the Krach Institute. The Center’s mission – to enhance Taiwan’s prosperity and international standing by bridging U.S. investment, talent, and technological expertise through its expansive private sector network – was widely praised. NDC Deputy Minister Kao Shien-Quey hailed the Taiwan Center’s importance and offered NDC’s support.

The Taiwan Center for Innovation and Prosperity at the Krach Institute for Tech Diplomacy at Purdue aims to strengthen the technological and diplomatic capabilities of Taiwan and the U.S. by: (1) delivering access to best-in-class STEM talent, especially in advanced manufacturing, AI, and electric vehicles; (2) providing unique Tech Diplomacy expertise that integrates Silicon Valley strategies with foreign policy tools; (3) building a network of networks for industry and government collaboration; (4) facilitating the path to commercialization from research to application and business creation; and (5) strengthening research and development in secure microelectronics, hypersonics, and other emerging technologies.

In recognition of Taiwan’s vibrant democratic process, the USTBC delegation also met with leaders from all political parties in Taiwan to gain a firmer understanding of the challenges facing the Taiwanese people and the diverse perspectives of Taiwan’s decision makers. Finally, Chairman Krach had discussions with National Yang Ming Chiao Tung University (NYCU) President Lin Chi-hung and National Chengchi University (NCCU) President Li Tsai-yen and their leadership teams focused on expanding their cooperation to drive the innovation and adoption of trusted technology. The Krach Institute for Tech Diplomacy at Purdue and both NYCU and NCCU signed Memorandums of Understanding in 2023 aimed at joint research, training, and tech diplomacy leadership.

“The US-Taiwan Business Council’s chairman’s delegation, led by Keith Krach, was the first major international business organization to visit Taiwan after the January 13 election. We met with and thanked President Tsai for her sterling leadership these past 8 years and the positive impact her government has had on US-Taiwan relations. We met with and congratulated President-elect Lai and Vice President-elect Hsiao on their win and pledged to work closely with their government ensuring continuity in bilateral relations,” said USTBC President Rupert Hammond-Chambers. “We will continue to be ambitious in advancing the US-Taiwan ties based on trust, and expanding the Global Trusted Tech Network, a growing coalition of global leaders committed to trusted economic and technological collaboration.”

About the Krach Institute for Tech Diplomacy at Purdue

The Krach Institute is the world’s preeminent trusted technology accelerator. As the leader in the new category of Tech Diplomacy, the Institute integrates technology expertise, Silicon Valley strategies and foreign policy tools to build the Global Trusted Tech Network of governments, companies, organizations and individuals to accelerate the innovation and adoption of trusted technology and ensure technology advances freedom.​

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Contacts

Len Khodorkovsky

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