TAIPEI, Taiwan (AP) -- The Taiwan government says the island will send a team to the U.S. to buy up to $5 billion worth of beans and grains.
The Foreign Ministry says Taiwanese business representatives are set to sign letters of intent on the deal with their U.S. counterparts at Capitol Hill on Tuesday.
In a statement late Friday, the ministry said Taiwan will commit to buy up to 13.7 million tons of beans, corn and grains from 11 U.S. midwestern states over the next two years. It compares with the $3.5 billion purchase over the 2010-2011 period.
Taiwan ranks as the sixth largest overseas market for U.S. farm produce.
