Taiwan seeks EU trade deal talks, sees ‘enormous potential’

Taiwan sought trade deal talks with the European Union while touting its leading position in the chip sector.

President Tsai Ing-wen said at an EU investment forum in Taipei that the restructuring of global supply chains and economic transformations present enormous potential for a closer, mutually beneficial cooperation with the EU,

The EU, Taiwan’s largest source of foreign investment, has been courting Taiwan as among the “like-minded” partners it would like to work with under the European Chips Act unveiled in February.

Germany had asked Taiwan to help ease a shortage of auto chips.

Taiwan Economy Minister Wang Mei-hua noted that the top priorities now for nations are engaging in cooperation with like-minded allies, building secure and reliable supply chain partnerships, and avoiding over-reliance on a single market.

With the EU planning to set up at least six million public charging stations for electric vehicles (EVs) by 2030, Taiwan will be a trustworthy partner for the EU in developing its EV market, added Wang.