President Tsai Ing-wen said Sept. 25 that Taiwan will step up efforts to further deepen and expand trade with the U.K. across a broad spectrum of potential-laden areas.
Financial innovation, nuclear plant decommissioning and smart city development are just some of the many fields in which the two sides can explore mutually beneficial partnerships, Tsai said. The synergies on offer augur well for the future development of the bilateral relationship, she added.
Tsai made the remarks while receiving U.K. Minister of Trade Policy George Hollingbery at the Office of the President in Taipei City. In country for the 21st annual Taiwan-U.K. trade talks, Hollingbery is accompanied by Natalie Black, trade commissioner for the Asia-Pacific, and other officials from the Department of International Trade.
According to Tsai, public sector representatives from Taiwan and the U.K. are making increasingly frequent reciprocal visits. Over the past two years, many delegations from the Commonwealth nation have traveled to Taiwan eager to cultivate business opportunities and strengthen existing commercial relations, she said.
One example is the recent visit by Lord Faulkner, U.K. trade envoy to Taiwan, Tsai said, adding that the British peer piqued the interest of many during his address on hydrogen vehicle technology at the Energy Taiwan Forum Sept. 19-21 in Taipei.
Overseen by the Ministry of Economic Affairs in cooperation with U.S.-headquartered global electronics industry group SEMI and the British Office in Taipei, ETF is a leading platform for sharing the latest developments on green energy, finance and insurance.
Hollingbery’s trip is widely expected to pave the way for Taiwan and the U.K. to identify and resolve market access issues while assessing the feasibility of taking economic relations to the next level. During his three-day stay, he is scheduled to call on the Ministries of Economic and Foreign Affairs, as well as attend the signing of a memorandum of understanding on fintech development cooperation between Taiwan Financial Services Roundtable and BOT.
Taiwan-U.K. trade totaled US$5.75 billion in 2017, with the U.K. Taiwan’s leading investment destination in Europe, third largest trading partner in the EU and fifth source of foreign investment, according to the MOFA. (SFC-E)
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