10/21, 11:49 PM (Source: TeleTrader)
more TeleTrader news

US approves arms sale to Taiwan worth over $1.8B

United States Department of State's Defense Security Cooperation Agency announced on Wednesday it approved "a possible Foreign Military Sale to the Taipei Economic and Cultural Representative Office in the United States (TECRO)."

The three contracts that received the green light are valued at more than $1.8 billion. The principal contractors are identified as the Boeing Company, Lockheed Martin Missile and Fire Control and Collins Aerospace for each of the three separate contracts, estimated at $1.008 billion, $436.1 million and 367.2 million, respectively.

The TECRO represents a de facto embassy of the territory of Taiwan in the US since Washington had established formal diplomatic relations with China in 1979. Beijing considers Taiwan to be a "part of the sacred territory" of China, according to the constitution of the People's Republic.

Breaking the News / MS