The 13th edition of the Taiwan-Israel Economic and Technological Cooperation Conference took place Nov. 25 via videoconference from Taipei and Jerusalem, with the two sides exchanging views on issues of mutual interest, according to the Ministry of Economic Affairs.
Convened by MOEA Deputy Minister Chen Chern-chyi and Ohad Cohen, director of the Foreign Trade Administration at the Israeli Ministry of Economy and Industry, the one-day event focused on areas such as artificial intelligence, circular economy, communication, energy, financial technology, industrial R&D, smart city development and water resources.
During his opening remarks, Chen gave Israeli delegates a rundown on the government’s measures and strategies in response to challenges stemming from the COVID-19 pandemic.
The deputy minister called Israel a global front-runner in technological innovation and praised Tel Aviv as the Silicon Valley of the Middle East. By pairing the country’s strengths with the flexibility of Taiwan’s manufacturing sector, the two sides are perfectly poised to tap opportunities arising from the restructuring of global supply chains, he added.
Cohen said the annual conference is instrumental to promoting bilateral investment and trade ties, as evidenced by the 40-plus percent surge in exports from his country to Taiwan last year.
The Israeli official said he looks forward to even stronger trade ties going forward and congratulated Taiwan for its success managing coronavirus, adding that Taiwan can serve as a role model for the rest of the world.
The two sides also concluded an agreement on standards and inspection cooperation. Through expanding information and personnel exchanges, the pact will help enhance product safety and pave the way for increased trade, according to the MOEA.
Statistics from the Ministry of Finance show two-way trade soared 17 percent year on year to US$1.77 billion in 2019. The figure jumped another 15 percent during the first nine months this year, with Israeli exports to Taiwan up 27 percent during the period. (SFC-E)
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