Taiwan, EU stage 32nd economic consultation

2020/12/21

The 32nd annual Taiwan-EU economic and trade consultation concluded Dec. 16 via videoconference, spotlighting government efforts to deepen reciprocal investment and cooperation in areas of mutual interest, according to the Ministry of Economic Affairs.
 
 Convened by MOEA Deputy Minister Chen Chern-chyi and Helena Konig, deputy director-general of the European Commission’s Directorate-General of Trade, the daylong event focused on fields spanning energy policy, intellectual property rights protection, pharmaceuticals and medical devices, sanitary and phytosanitary measures, and technical trade barriers.
 
 Chen said during the event that tie-ups in green energy and digital transformation are set to take off, adding that Taiwan is the EU’s optimal choice for such partnerships due to shared democratic values and the country’s innovative outlook and manufacturing prowess.
 
 In response, Konig praised the annual event’s contributions to bilateral economic relations. EU member states will continue working with Taiwan on exchanges across the board, she said.
 
 Delegates also exchanged views on boosting bilateral collaboration opportunities. Examples included the inaugural EU Investment Forum staged earlier this year in Taipei City and Taiwan-EU digital economy dialogue held last year in Brussels.
 
 During the discussions, Taiwan took the opportunity to express appreciation to the EU for supporting a bid by the Food and Drug Administration under the Ministry of Health and Welfare to become a full member in the International Cooperation on Cosmetics Regulation.
 
 According to the MOEA, trade volume between the two sides totaled US$46.2 billion from January to November 2020. The EU is Taiwan’s fifth largest trading partner and a leading source of foreign investment, which stood at an accumulated US$48.5 billion as of the end of October this year.

Source: Taiwan Today (https://taiwantoday.tw/index.php)