Taiwan-EU economic meeting wraps up in Taipei

2015/12/10

The 27th economic and trade consultation meeting between Taiwan and the EU concluded Dec. 8 in Taipei City, with the two sides exchanging views on numerous issues of mutual interest.

Convened by Deputy Minister of Economic Affairs Cho Shih-chao and his EU counterpart Mauro Petriccione, the one-day event focused on the results of four groups tasked with addressing intellectual property rights, pharmaceuticals, sanitary and phytosanitary measures, as well as technical trade barriers.

Also discussed were issues relating to certification of Taiwan-produced organic agricultural exports, ongoing investigation of locally manufactured solar energy products, government procurements, and collaboration on trade, telecommunications and services industries.

According to Cho, the annual meeting is a first-class platform for expanding bilateral trade ties while helping bring Taiwan’s business environment in line with global standards.

“We welcome the decision to consider launching negotiations on expanding investment opportunities with Taiwan in the European Commission’s latest Trade for All strategy report,” Cho said. “Such a positive development provides new momentum for cementing economic and trade relationships between Taiwan and the EU.”

Cho also took the opportunity to brief the EU delegation on government efforts and preparedness for possibly taking part in the second round of Trans-Pacific Partnership negotiations.

In response, Petriccione said the EU attaches great importance to trade relations with its Asian-Pacific partners. Given Taiwan’s key role in the global supply chain, and increasing investment in the EU, there is every reason to expect strengthening cooperation between the two sides, he added.

Taiwan-EU trade hit US$50.94 billion last year, with the EU Taiwan’s leading source of foreign investment and fifth largest trading partner.

Recent examples of enhanced bilateral ties include Taiwan joining the Enterprise Europe Network in May and the first-ever local visit by the EU’s Mission for Growth in June.

Source: Taiwan Today (http://taiwantoday.tw/ct.asp?xItem=239963&ctNode=2194&mp=9)