NUMBERS GAME: Taiwan and the EU have a solid relationship built on trade, with a large trade balance and substantial EU investment in Taiwan over the years
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Staff writer, with CNA
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Taiwan and the EU on Friday held a Trade and Investment Dialogue in Brussels, with discussions focusing on economic security and the resilience of semiconductor supply chains.
The dialogue was cohosted by Minister of Economic Affairs Kung Ming-hsin (龔明鑫) and Sabine Weyand, director-general for Trade and Economic Security at the European Commission, and marked the highest-level platform for Taiwan-EU economic cooperation, the Ministry of Economic Affairs said in a statement yesterday.
Participants also exchanged views on climate-related trade measures, global steel overcapacity and other commercial issues, according to the ministry.
Minister of Economic Affairs Kung Ming-hsin, left, fourth from front, attends the Taiwan-EU Trade and Investment Dialogue in Brussels on Friday, the highest-level platform of Taiwan-EU economic cooperation to date.
Photo courtesy of the Ministry of Economic Affairs
During the meeting, Kung spoke about Taiwan’s strategy of diversifying global supply chains, building out its technology and manufacturing capabilities and enhancing international competitiveness, the ministry said.
In addition to co-hosting the dialogue, Kung met with the European Commission’s director-general for Internal Market, Industry, Entrepreneurship and SMEs (small and medium-sized enterprises) Kerstin Jorna to discuss industrial policy and new areas for cooperation.
While in Brussels, Kung met with Taiwanese business representatives based in Brussels to better understand their local operations, identify challenges and explore possible government support measures.
The EU is Taiwan’s fourth largest trading partner, with bilateral trade of about US$68.7 billion last year, according to ministry data.
In investment, the EU is Taiwan’s largest foreign investor, with investment totaling US$59.5 billion from 1952 to last year, showing the depth of economic involvement between the two sides.
