EU and Taiwan hold second Trade and Investment Dialogue

The EU and Taiwan discussed priority sectors including offshore wind and agri-food, digital trade facilitation measures, and security-related aspects of trade and investment.

Looking back at the work undertaken over the past year, both sides welcomed the technical exchanges that had taken place since the last TID on semiconductors, research and innovation, foreign direct investment screening and export controls, and agreed to pursue their engagement in all these areas. They agreed to continue their cooperation to align their sanctions against Russia and to prevent the circumvention of these sanctions.

The EU stressed its concerns related to access of Member States’ agri-food exports, and localisation requirements in the offshore wind and e-mobility sectors. Both sides discussed their respective green transition and carbon pricing initiatives, and trade-related climate measures.

In addition, the EU and Taiwan agreed to engage in expert discussions on digital trade facilitation measures such as e-invoicing and e-signature, with a view to lowering transaction costs and increasing economic efficiency for both EU and Taiwanese businesses.

Both sides welcomed the forthcoming European Innovation Week that will take place in Taipei from 29 May to 1 June. The event will promote closer links between European and Taiwanese businesses, including in sectors such as semiconductors, green energy, circular economy and 6G.  

The TID was co-chaired by Sabine Weyand, director-general of DG Trade, and Wang Mei-hua, Taiwanese minister of economic affairs.

Background

Taiwan is an important economic partner for the EU, with total trade in goods reaching a record of EUR 84.2 billion in 2022. Taiwan is a leading producer of high-tech goods, in particular semiconductors and electronic products vital to both the green and digital transitions, and an important destination for EU high-tech machinery. The EU is also Taiwan’s largest source of foreign direct investment.

For more information

EU-Taiwan trade relations