Taipei City, Taiwan — Governor Murphy witnessed the signings of Memorandums of Understanding (MOU) between the New Jersey Economic Development Authority (NJEDA) and Taiwan; the New Jersey Board of Education (NJDOE) and Taiwan at the Ministry of Foreign Affairs; and the New Jersey Department of Banking (NJDOBI) and Insurance and the Financial Supervisory Commission of Taiwan. These agreements establish powerful economic trade partnerships and bilateral educational infrastructure. The MOU signed by the NJEDA and Taiwan’s Ministry of Economic Affairs prompted the formal promotion of bilateral trade, industry and investment collaboration, and supply chain diversification between New Jersey and Taiwan.

The MOU between the NJDOE and the Ministry of Education of Taiwan creates exchange opportunities for Chinese and English language teachers, in addition to the implementation of joint projects between institutions of both regions. The MOU signed between NJDOBI and the Financial Supervisory Commission of Taiwan will ensure that all non-public information shared between the two parties will be handled in accordance with all applicable confidentiality laws and regulations.