EU Investment Forum in Taiwan addressed by President Tsai

2022/10/27

President Tsai Ing-wen said Oct. 25 that Taiwan and the EU should commence bilateral investment agreement negotiations to create opportunities benefiting both sides.
 
Tsai made the remarks during her opening address at the EU Investment Forum Oct. 25 in Taipei City. Jointly organized by the Ministries of Foreign and Economic Affairs in conjunction with the European Economic and Trade Office, the daylong event focused on green transformation.
 
Taiwan is working to achieve the goal of net-zero emissions by 2050 through energy and industrial transition, Tsai said. The country’s emphasis on green energy and digital technology aligns with EU plans like the European Green Deal, she added.
 
Alongside the ongoing challenges of the COVID-19 pandemic and Russia’s invasion of Ukraine, supply chain security and resilience is now the economies’ top priority, Tsai said, adding that the government launched the Taiwan-Europe Connectivity Initiative earlier this year to strengthen related cooperation and established a US$1.2 billion fund in January to bolster collaboration with Central and Eastern Europe in strategic industries.
 
These are complemented by the Taiwan-Europe Connectivity Scholarship program, which the government provides funding to train young talent from European countries including Lithuania, the Czech Republic and Slovakia, she added.
 
According to Tsai, the government’s efforts are paying dividends. The two sides’ trade volume reached US$68.7 billion last year, with a year-on-year increase of 30 percent, she said. Cumulative direct investment by EU firms in Taiwan exceeded US$54 billion as of August, making the EU the country’s largest foreign investment source, she added.
 
Tsai also took the opportunity to thank the European Parliament for greenlighting measures promoting the two sides’ trade ties and issuing statements supporting cross-strait peace and stability. The EU’s description of Taiwan as a responsible and trustworthy partner in its report on EU strategy for Indo-Pacific cooperation and the European Chips Act is deeply appreciated, she added.


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