The president of Taiwan, William Lai (Lai Ching-te), hopes to sign an “economic partnership agreement” with the European Union (EU) that would improve the investment environment and provide greater trade opportunities for both parties, amid recent tensions between the EU and China.
“We are in the best moment in the history of bilateral relations between Taiwan and the European Union“said the island president on Thursday night, during a dinner organized by the European Chamber of Commerce in Taiwan (ECCT).
The Iconsidered a “secessionist” and a “troublemaker” by the Chinese authorities, stated in his speech that trade and investment between Taiwan and the EU “have reached new highs” over the last eight years, in which Europe It has established itself as the island’s third largest trading partner.
Taiwan is committed to the development of diversified green energy and has advanced technology in semiconductor processes. “It is at the center of the artificial intelligence revolution and is the key to the ‘global democratic supply chain’,” highlighted the Taiwanese president.
“I think that Taiwan and Europe “They can leverage their respective advantages, communicate with each other and build a stronger and closer partnership,” he added.
In this sense, The I He recalled that the island has established various agreements with its most important economic and trade partners, including the signing of the first batch of agreements of the “US-Taiwan Trade Initiative on Trade in the 21st Century”, the “Trade Association Agreement Improved” with the United Kingdom and investment agreements with Japan, Canada and other countries.
“We hope that, in the future, Taiwan and the EU negotiate an ‘economic partnership agreement’ to create a mutually beneficial investment environment and business opportunities for companies on both sides,” he said.
For his part, the head of the European Economic and Trade Office (EETO) in Taiwanthe Polish diplomat Filip Grzegorzewskihighlighted that the EU is currently the main foreign investor in Taiwanrepresenting 26.2% of incoming foreign direct investment on the island, with special impact on offshore wind energy and the advanced technology industry.
“Since 2018, companies in the EU have injected more than 300,000 million Taiwan dollars (9,258 million dollars) into the energy sector of Taiwan“, he pointed out Grzegorzewskiwho also highlighted that Bilateral trade between the EU and Taiwan increased by 42% between 2020 and 2023according to statements collected by the state news agency CNA.
The European representative acknowledged that five years ago “very few people in European circles spoke publicly about Taiwan”, but “this has changed”.
“Taiwan It is now an integral part of the company’s strategy. EU for him Indo-Pacific”, he stressed.
These statements come two days after the European Commission (EC) impose a tariff of up to 38.1% on the import of electric vehicles from Chinaconsidering that the subsidy of their batteries harms European producers.
In response, the Asian giant assured that it will defend “the rules of the World Trade Organization (WTO) and market principles”, and described the decision of the EC as a “clear case of protectionism.”
Taiwana self-governed island since 1949 and considered a “rebellious province” by Chinadoes not maintain diplomatic relations with any European country, except with the Vatican City.
(With information from EFE)
