Texas Governor Greg Abbott continues to strengthen economic and diplomatic ties, this time with Taiwan. As part of his East Asia trip, Abbott opened a Texas-Taiwan office in Taipei. The office aims to strengthen business ties and give Taiwan a greater voice on the world stage. Abbott signed a letter of intent to foster stronger economic ties with Taiwan and met with Taiwan President Lai Ching-te. Taiwan is Texas' seventh-largest trade partner, with $21.3 billion in trade in 2023. Taiwan is the world's largest producer of semiconductors, providing over 90% of advanced chips used in various industries. Taiwanese companies have been expanding into Texas, with projects like a $5 billion silicon wafer plant in Sherman. Taiwan led all nations in foreign direct investment in Texas in 2022, with over $5 billion. The opening of the Taiwan-Texas office in Taipei is the first time Texas has opened an office in another country this century. The visit comes amid tensions between China and Taiwan, with Texas lawmakers showing support for Taiwan. Abbott's delegation includes his wife, Secretary of State Jane Nelson, State Sen. Carol Alvarado, and GOP state Reps. Giovanni Capriglione, Angie Chen Button, and Jacey Jetton [4fc70975] [0123f9b3].
Abbott also champions the economic partnership between Texas and South Korea during his visit to Seoul. He delivers remarks at the U.S. Embassy, highlighting the commonalities between the two economies and their potential for growth in the future. Abbott meets with the Minister of Foreign Affairs for the Republic of Korea to discuss deepening the economic and trade relationship. He attends a luncheon hosted by the Korea International Trade Association (KITA) to promote trade cooperation. Abbott expresses gratitude to SK Americas for their recent expansion in Plano. South Korea has been the leading foreign investor in Texas, with $20.59 billion invested in the past 10 years. The trip is sponsored by the Texas Economic Development Corporation and the Governor's Economic Development & Tourism Office [2b2ada69].
In addition to his East Asia trip, Abbott visited India to discuss and strengthen the ties between India and the United States. During the meeting with External Affairs Minister S Jaishankar, Jaishankar expressed his admiration for Abbott's commitment to stronger India-US relations. Abbott highlighted the strong ties between India and Texas, mentioning that both places share an 'independent streak' and have common values. Abbott's visit to India was fully paid for by the Texas Economic Development Corporation. In the last decade, Indian companies have invested $1.4 billion in capital investments in Texas, funding 59 projects and creating over 10,300 jobs. India is the 9th largest foreign direct investment initiator in Texas, and Texas is the most popular destination for Indian FDI capital investment and job creation in the United States [1eacbe5b] [13f68103].
Meanwhile, Georgia Governor Brian Kemp is also strengthening economic ties through a trade mission to Italy. Kemp will lead a weeklong trade mission to Italy to strengthen economic ties and develop new partnerships. The mission will include meetings with executives from companies currently doing business in Georgia, such as Beretta, Pirelli, TMC Transformers, and Aquafil. Italy is a top-15 trading partner with Georgia, with $3.4 billion in total trade last year. Italian companies have invested over $411 million in Georgia since 2010, supporting about 5,000 jobs. Kemp previously led a trade mission to South Korea, and the last Georgia trade mission to Italy was in 2017 under then-Governor Nathan Deal [297b7c03].