he president of Taiwan, Lai Ching-te urged the signing of an EU Taiwan political relations and cooperation along with an economic partnership agreement
with the EU on Monday, emphasizing the potential of this agreement over the semiconductor collaboration and also highlighting the importance of cooperation between the two democracies.
Taiwan pushed this agreement of investment and trade with the European Union, in order to get diplomatic isolation and also general exclusion from most global agreements. Of course, this diplomatic deal has some benefits for the European Union too, and for their part of the deal they considered Taiwan as a good partner under the European Chips Act in order to encourage an increase in semiconductor production in Europe and reduce the dependency over the Asia production.
At the EU and Taiwan investment conference in Taipei, President Lai Ching-te stated that in the recent threat of authoritarianism expansion, these two should have some EU-Taiwan political relations and cooperation along with a strong democratic relationship in order to build a protected supply chain for the worldwide states.
"Looking to the future, Taiwan hopes to take an innovative approach towards the signing of an economic partnership agreement with the EU,", the president Lai Ching-te stated.
The president also stated that the agreement between Taiwan and the European Union would be able to provide a strong institutional foundation for enhanced cooperation in different areas such as semiconductors and AI.
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"This would not only make both our economies more resilient and secure but also ensure the stable operation of global supply chains.", he added.
The Taiwanese investment in the EU has been driven by Taiwan Semiconductor Manufacturing Co., which opened a major new chip plant in Dresden, Germany back in August, which aimed to become a key supplier to European industries and automakers.
The deputy head of the European Commission’s directorate-general for trade, Maria Martin-Prat didn’t mention in the video message for the investment event, the signing of an agreement with Taiwan, even though she complimented these bilateral relations.
"Taiwan, a vibrant democracy with an open economy, is a trusted partner for us to promote our economic security,", she also added.
By
Eva Robinson
•
November 18, 2024 10:10 AM
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