President William Lai (賴清德) yesterday called for the signing of an economic partnership agreement with the EU, saying it would boost cooperation in semiconductors and that, as democracies, the two sides should be working together.
Taiwan has pushed for the signing of investment and trade deals with the EU, in what would be politically significant for Taiwan given its diplomatic isolation and general exclusion from most global bodies and agreements.
For its part, the EU has been courting Taiwan as a “like-minded” partner under the European Chips Act to encourage more semiconductor production in Europe and lessen dependence on Asia, despite the lack of formal ties.
Photo: Ann Wang, Reuters
Speaking at the annual EU investment forum in Taipei, Lai said that facing the threat of expanding authoritarianism, Taiwan and the EU must form a “strong democratic umbrella” and build secure supply chains for global democracies.
“Looking to the future, Taiwan hopes to take an innovative approach toward the signing of an economic partnership agreement with the EU,” he said.
Such an agreement would lay a sound institutional basis for further cooperation in fields such as semiconductors and artificial intelligence, he added.
“This would not only make both our economies more resilient and secure, but also ensure the stable operation of global supply chains,” he said.
Taiwanese investment in the EU has been anchored by Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), which in August broke ground on a major new chip plant in Dresden, Germany, expected to be a key supplier to European industry and automakers.
Maria Martin-Prat, deputy head of the European Commission’s directorate-general for trade, made no mention of signing such a deal with Taiwan in a video message to the investment event, although she did praise bilateral relations.
“Taiwan, a vibrant democracy with an open economy, is a trusted partner for us to promote our economic security,” she said.
Taiwan has few free-trade agreements, although last year it signed an Enhanced Trade Partnership with the UK and has applied to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.
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