President Tsai Ing-wen said Jan. 24 that Taiwan and the U.K. should strengthen economic and trade cooperation with a focus on high-value emerging sectors for the benefit of both sides.
The government attaches great importance to bilateral ties, with relations between Taiwan and the U.K. exhibiting considerable progress in recent years, the president said. It is hoped that the two sides will deepen collaboration based on existing foundations so that they can make more meaningful contributions to the international community, she added.
Tsai made the remarks while receiving Britain’s new representative to Taiwan, Catherine Nettleton, at the Office of the President in Taipei City. In December, Nettleton took over as head of the British Office Taipei, which represents the U.K.’s interests in the absence of formal diplomatic relations.
According to the president, there is significant room for greater bilateral economic cooperation in the emerging sectors targeted under the government’s five-plus-two innovative industries initiative.
A key component of her administration’s economic development strategy, the initiative aims to bolster the biotech and pharmaceuticals, green energy, national defense, smart machinery and Internet of Things sectors, as well as the circular economy and a new paradigm for agricultural development.
Tsai said that the government has already launched several major projects under the initiative, adding that she brought Greg Hands, U.K. minister of state for trade and investment, and Lord Faulkner, British trade envoy with responsibility for Taiwan, up to speed on the program during a meeting last September in Taipei.
The president also reiterated Taiwan’s commitment to actively participating in the global community, urging countries around the world to cooperate in tackling economic, humanitarian and security challenges. She said Taiwan will remain steadfast in meeting its international responsibilities and is willing to share its experiences in fostering democracy, economic development, human rights and science.
According to the Ministry of Finance, the U.K. is Taiwan’s third largest trade partner in the EU, with two-way trade totaling US$5.49 billion last year. (SFC-E)
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