Taiwan, Germany convene economic consultations in Taipei

2024/11/13

The 2024 Germany-Taiwan Economic Policy Consultations took place Nov. 11 in Taipei City, with officials from both sides discussing a wide range of issues of mutual interest.
 
According to the Ministry of Economic Affairs, the meeting was convened by Deputy Minister Chen Chern-chyi and Udo Philipp, state secretary of the German Federal Ministry for Economic Affairs and Climate Action. Topics covered at the one-day event included economic security and supply chain resilience, as well as potential cooperation in areas such as electric vehicles, energy and semiconductors.
 
Chen called Germany a key trade partner of Taiwan and said the two sides enjoy an increasingly close partnership, especially in the EV and semiconductor sectors. During the Taiwan-Germany Smart Machinery Forum held Aug. 22 in Taipei, the countries also held extensive exchanges in artificial intelligence, smart robotics and advanced smart manufacturing, he added.
 
Another shining example of the robust ties, the deputy minister said, is a memorandum of understanding signed last month between Taiwan’s state-sponsored Automotive Research and Testing Center and Munich-based TÜV SÜD, a leading provider of testing, inspection and certification solutions, to establish a test laboratory for self-driving EVs in Taiwan, which is set to become the first in Southeast Asia to meet global testing standards.
 
The new Taiwan Semiconductor Manufacturing Co. plant currently under construction in Dresden is also paving the way for Taiwan’s small- and medium-sized enterprises to expand their presence in Europe, Chen said, expressing hope that the German government will offer its assistance to the country’s businesses.
 
Statistics show that Germany is Taiwan’s leading trade partner in the EU and its third-largest source of foreign investment. Bilateral trade amounted to US$22 billion last year, with Taiwan investment in the EU member state reaching a record high of US$3.91 billion.


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