Taiwan and Poland inked Oct. 12 two memorandums of understanding aimed at boosting collaboration on financial supervision and solar power.
The financial agreement, signed between the Republic of China (Taiwan) Financial Supervisory Commission and Polish Financial Supervision Authority, is the first of its kind that Taiwan has reached with a Central European nation, according to the Ministry of Economic Affairs. Concluded between the Taiwan Photovoltaic Industry Association and Photonics Society of Poland, the solar power pact seeks to boost collaboration between the industry groups on renewable energy development.
At the signing ceremony for the financial accord, MOEA Vice Minister Yang Wei-fuu said the agreement will foster closer regulatory cooperation between the two nations, strengthen the effectiveness of cross-border supervision and promote open, fair and efficient financial markets. He expressed optimism that expanded information exchanges would enhance the financial regulatory environments of both nations.
The accords were signed at the seventh Taiwan-Poland Economic Consultations in Warsaw. Headed by Yang and Polish Ministry of Economic Development Undersecretary of State Tadeusz Koscinski, the one-day meeting featured discussions in areas spanning agricultural trade, industry development and transportation.
In addition to the agreements, the two sides achieved consensus on issues including initiating cooperation in coal ash reuse, establishing an information exchange platform on conformity assessment systems and enhancing collaboration on support for startups.
Yang said that since their launch in 2010, the consultations have proved instrumental in boosting trade and investment between the two nations. According to Ministry of Finance statistics, Poland was Taiwan’s eighth largest EU trading partner in 2016, with bilateral trade exceeding US$995 million, a year-on-year increase of US$48 million. (KWS-E)
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