Witnessed by President Tsai Ing-wen and Palau President Surangel S. Whipps, Jr., the Agreement on Public Finance Cooperation between the Government of the Republic of China (Taiwan) and the Government of the Republic of Palau was signed by Finance Minister Su Jain-Rong and Palau Finance Minister Kaleb Udui, Jr. in Taipei on October 6th, 2022. The signing of this Agreement will deepen bilateral cooperation in the area of public finance between these two countries.
The Ministry of Finance stated that based on the strong diplomatic relations between Taiwan and Palau, both governments intended to further establish the mechanism for systematic and periodic exchanges of experiences in the area of public finance management, such as fiscal policy and treasury policy, taxation and customs cooperation, public assets management, promotion of private participation in infrastructure, and international financial cooperation. Therefore, both sides signed this Agreement and agreed to facilitate the exchange and sharing of experiences by bilateral meetings, seminars, training courses, study tours, and mutual consultation.
The Ministry of Finance pointed out that this Agreement entered into force on the date of signature, and both sides will designate coordinators to discuss the details of cooperative projects. The Ministry would like to share its experiences in fiscal discipline, public debt management, tax systems, and digitalization on tax and customs administrations with the Palau Ministry of Finance. With the establishment of the mechanism for systematic and periodic exchanges of experiences under this Agreement, both sides will work together to achieve fiscal sustainability as well as creating a well-rounded trade and investment environment for their people and enterprises.
Contact person: Ms. Vera Wei-Nung Lee, Section Chief
Contact Number: +886-2-23228000 #8582