.webp)
Taiwan President urges EU to sign economic partnership to enhance cooperation, particularly in semiconductors.
President of Taiwan Lai Ching-te asked the European Union to seal an economic partnership agreement on Monday, emphasizing that this would help in furthering cooperation, especially in key industries, such as semiconductors. Speaking at the Taiwan-EU investment forum that was held at Taipei, Lai noted that both Taiwan and the EU were democratic societies that should form a basis for greater cooperation.
This proposed partnership with Taiwan is politically relevant to this nation because Taiwan is diplomatically isolated with most of the global organizations excluding it due to its strained ties with China. Even though the EU does not have any official diplomatic relationship with the Chinese-claimed Island, it has been wooing Taiwan more vigorously as a strategic partner, particularly through initiatives such as the European Chips Act, aimed at reducing Europe's reliance on Asian semiconductor production.
Lai emphasized the need for Taiwan and the EU to join forces in building a "strong democratic umbrella" for safe global supply chains at a time when rising authoritarianism continues to sweep through the world. "This partnership will not only strengthen and fortify both economies but also steady international supply chains," Lai said.
Taiwan also seeks to intensify economic cooperation with the EU in emerging areas such as AI and semiconductor production. The island's semiconductor industry, led by Taiwan Semiconductor Manufacturing Company (TSMC), is an important player in the global tech supply chain. In August, TSMC opened a new plant in Dresden, Germany, further cementing Taiwan's influence in Europe's semiconductor market.
While Maria Martin-Prat, a senior EU official, said Taiwan was a trusted partner, she did not comment on the specifics of a future agreement. Taiwan has limited free trade agreements, though it signed a partnership with Britain last year and applied to join the CPTPP.
.webp)
