President Tsai eyes closer Taiwan-EU economic cooperation

2020/09/24

President Tsai Ing-wen said Sept. 22 that Taiwan is ready to become one of the EU’s top partners in potential-laden industries of the future en route to negotiating a bilateral investment agreement.
 
 Biotech, health and mobility, and information and communication technology are sectors in which Taiwan excels, Tsai said. These are also some of the many areas set to benefit from greater Taiwan-EU collaboration, she added.
 
 It is hoped Taiwan and the EU can negotiate a BIA based on such a solid foundation, Tsai said. This would ensure the strong relationship continues moving forward, and would help both sides thrive in the digital age, she added.
 
 Tsai made the remarks while attending the inaugural EU Investment Forum in Taipei City. The daylong event involved officials from Taiwan such as Foreign Minister Jaushieh Joseph Wu and Economics Minister Wang Mei-hua, as well as Filip Grzegorzewski, head of the European Economic and Trade Office, and representatives from 15 member countries of the EU.
 
 According to Tsai, Taiwan and the EU espouse values like freedom, democracy and the rule of law. These shared beliefs, supported by complementary strengths of the respective economies, have seen the two sides develop strong business relations, she said.
 
 The forum marks a new chapter in the Taiwan-EU trade and investment partnership, Tsai said. It is also an excellent platform to prepare strategies for deepening collaboration in wind energy and other areas like artificial intelligence, AI ethics, data protection, fifth-generation applications and information security, she added.
 
 Tsai said government efforts to create robust investment and predictable business environments in Taiwan are paying dividends. This is evidenced by the over NT$1 trillion (US$34.3 billion) in investment from the EU last year, making the region the country’s top foreign investor, she added.
 
 These undertakings are backed by the Taiwan-EU Dialogue on Digital Economy and Industrial Policy Dialogue, Tsai said, adding that initiatives like promoting the six core strategic industries are leveraging the country’s strengths so it can play a key role in the global supply chains of the future.
 
 One example, Tsai said, is medical supply chains. Taiwan businesses are well-equipped to work with EU counterparts on high-end vaccine R&D and production, medical equipment and essential items like face masks, she added.
 
 Looking forward, Tsai said Taiwan’s ICT industry can serve as a conduit for closer economic and trade ties in line with the objectives of the EU’s digital strategy. There are so many opportunities for Taiwan and EU enterprises to work together, invest and innovate, she added.
 
 The six core strategic industries are founded on the government’s five-plus-two innovative industries plan. Launched in 2016, the undertaking fosters the development of the biotech and pharmaceuticals, green energy, national defense, smart machinery and Internet of Things sectors, as well as the circular economy and a new paradigm for agricultural development.

Fuente: Noticias de Taiwan (https://noticias.nat.gov.tw/)