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Taiwan Agriculture Investment Co. sets up presence in Honduras

2019/01/18 20:33:57

Photo courtesy of the Ministry of Foreign Affairs

Taipei, Jan. 18 (CNA) State-run Taiwan Agriculture Investment Company (TAIC) formally opened a subsidiary in Honduras on Thursday to advance bilateral trade and commercial ties with the Central American ally, the Ministry of Foreign Affairs (MOFA) said Friday.

TAIC Chairman Pat Yang (楊世沛), Taiwan's ambassador to Honduras Ingrid Y.W. Hsing (邢瀛輝), and Agriculture and Farm Minister Mauricio Guevara and Economic Development Minister Arnaldo Castillo of Honduras were present at the ceremony, the MOFA said in a statement.

The new subsidiary is the first ever established by a national-level investment company overseas, reflecting the high priority Taiwan puts on two-way ties with its diplomatic allies, the ministry said.

During Yang's stay in Honduras from Jan. 16-22, he will also be touring local poultry and avocado farms and exploring opportunities for cooperation with them.

Established in August 2018, TAIC was the brainchild of President Tsai Ing-wen (蔡英文) during her visit to Paraguay in August 2018.

Tsai said at that time that Taiwan will set up three investment companies, which MOFA explained were to focus on industry, agriculture and engineering to help its diplomatic partners boost economic development.

(By Elaine Hou and Flor Wang)