The Partnership for Economic Prosperity Dialogue between the United States and Taiwan (PEP) was inaugurated in Washington, on Friday, Nov. 21, to deepen the economic relationship between the two nations that currently have no official diplomacy.

U.S. Secretary of State Mike Pompeo celebrated the event on his Twitter account.

The Taiwanese president also welcomed the progress in bilateral relations between the two nations.

The event, which was held partially in person and virtually was attended by Undersecretary for Economic Growth, Energy and Environment Keith Krach, Assistant Secretary of State for East Asian Pacific Affairs David Stilwell, and Director of the American Institute in Taiwan Brent Christesen.

On the Taiwanese side, the delegation included Minister without Portfolio John Deng, Minister of Economic Affairs Wang Mei-Hua, Minister of Science and Technology Wu Tsung-Tsong, and Deputy Minister of Economic Affairs C.C. Chen.

According to Breitbart, on the event agenda was cooperation in the semiconductor industry, 5G security, health care, investment screening, and economic empowerment of women.

Taiwan and the United States share a particularly interesting industry: chip manufacturing, which is used in all electronic devices today. While the U.S. specializes in chip design, Taiwan has one of the largest chip factories, TSMC.

Following Secretary of Health and Human Services Alex Azar’s visit to Taiwan this year, the Trump administration has taken concrete steps to solidify its relationship with the island despite complaints and threats from the Chinese Communist Party (CCP) that claims sovereignty over Taiwan.

Also this year, the United States approved the sale of advanced military drones for some $600 million for defense purposes to Taiwan.

Unlike communist China, Taiwan has preserved its traditional values, rejected communist ideology, and is now a country that enjoys a unique democracy and prosperity that echoes the values that President Trump is trying to restore in the United States.

And the difference is huge: with only a strait separating it from mainland China, Taiwan was the country that best handled the CCP Virus pandemic, recently marking 200 days without any new infections, and all this without resorting to strict quarantine measures.