Reeves Passes Bill to Research Economic Feasibility of Taiwan Trade Office, Resulting in Executive Order to Fast-Track Office

RICHMOND, VA – April 25th, 2023 – Yesterday, April 24th, 2023 Governor Glenn Youngkin (R-VA) announced the signing of an executive order to fast-track a Virginia-Taiwan trade office. The order came after the Virginia Economic Development Partnership (VEDP) conducted a cost-benefit analysis of opening a trade office as directed by SB1208 (Reeves, 2023). The Senate bill, carried by Senator Bryce Reeves (R-Spotsylvania) launched the initiative, having massive implications for the Virginia economy. 

The passage of Reeves’ bill through the House and Senate came shortly after representatives from the Taiwan Economic and Cultural Representative Office (TECRO), including Ambassador Hsiao Bi-khim, visited the Virginia General Assembly to meet with Youngkin, Reeves, and other Virginia elected officials. According to the executive order released by Youngkin, the Commonwealth only stands to benefit from this deepened relationship.

“I’m proud to have been able to champion this legislation which spurred on the official creation of Virginia’s newest trade office. Not only does this show that Virginia is ready and willing to stand with Taiwan in support of their democracy, but that we are truly invested,” said Senator Reeves. “Taiwan has functioned as a technological powerhouse, with recent developments that have countless civilian and military applications. I look forward to working alongside Ambassador Hsiao Bi-khim to further relationships between our Commonwealth and the Taiwanese people!”

In response to SB1208’s passage in the Virginia House of Delegates in mid-February, Taiwanese Ambassador Hsiao Bi-khim said, “[I am] touched and thankful to learn of the bipartisan Virginia General Assembly House vote today, 99-0, supporting an analysis to open a trade office in Taiwan. I believe such an office will add momentum to deepening trade and economic ties.”

As of 2022 Taiwan stood as Virginia’s 9th largest trading partner overall, and 4th largest in the agriculture export market. According to the executive order released by the Governor’s office, “Taiwanese exports through the Port of Virginia saw a 12.5% year-over-year increase in twenty-foot equivalent [units] (TEUs) in 2022.” The executive order’s release in response to the results of SB1208‘s study has sparked major excitement for the future of Virginia and Taiwan’s relationship.

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Bryce Reeves is a small business owner, former Army Ranger, and former Prince William County narcotics detective. Senator Reeves is running for re-election into the newly formed 28th Senate District. The counties within this district include: Orange, Culpeper, Madison, Greene, Rappahannock, Fauquier (part), and Spotsylvania (part). Senator Reeves currently serves on the Senate Committee on Rehabilitation and Social Services and sits on the Committees on Local Government, General Laws and Technology, and Privileges and Elections. In addition, Senator Reeves is the Co-chair of the Virginia General Assembly Military and Veterans Caucus. Senator Reeves resides in Spotsylvania County.