Debate: EU-Taiwan trade and investment relations
Date: TUESDAY, 12 DECEMBER 2023
Speaker: Seán Kelly
Country: Greece
Language: EN

‘There is a consensus across party lines within the Parliament for bolstering trade and investment relations with Taiwan. Taiwan, situated at the heart of global supply chains, plays the pivotal role in ensuring the stability and efficiency of these networks, and recognising Taiwan as a key ally holds an important position in the contemporary geopolitical landscape. Our resolution underscores Taiwan’s indispensable role in EU supply chains, emphasising its position as a member of the World Trade Organization. Additionally, Taiwan has proven itself to be a reliable and likeminded partner and it is our shared interest to strengthen these ties. I urge the Commission to prioritise the establishment of the resilience against geo-economic shocks. A supply chain resilience agreement is not just desirable, it is strategically important. We must look at the next tangible steps that can be taken and, importantly, the timeline for their implementation. In a world that moves swiftly, our responses must match that pace. Our resolution appropriately acknowledges the remarkable growth in EU Taiwan trade, which reached a noteworthy EUR 84.2 billion in 2022. Taiwan’s significance in global supply chains should not be overstated. As we navigate the green and digital transitions, Taiwan’s expertise in high tech goods, particularly semiconductors, becomes invaluable. The recently agreed commitment in the Second Trade and Investment Framework Agreement represents a positive step forward. We must swiftly operationalise these commitments, addressing key trade issues such as offshore wind, market access for EU agricultural products, digital trade facilitation and security related aspects of trade and investment. Moreover, we need to make progress in resolving barriers related to local content requirements.  Looking ahead, numerous opportunities for enhanced cooperation await us. Foreign direct investment and the exchange of experiences in the high tech sector, particularly semiconductors and renewables, can significantly strengthen our resilience and supply chains. I encourage Taiwan to actively contribute to the ambitious reform of the World Trade Organization, including the enhancement of its dispute settlement body. As we work towards this goal. I invite Taiwan to consider joining the Multi-Party Interim Appeal Arbitration Agreement, demonstrating our commitment to a fair and effective global trade system. I commend Taiwan’s commitments to aligning sanctions against Russia and standing with Ukraine in the face of aggression. This solidarity demonstrates the shared values that underpin our partnership. Additionally, the annual EU Investment Forum in Taiwan serves as a platform to encourage more bilateral investments in both directions, fostering economic growth and stability. The parliamentary dimension is essential in facilitating stronger trade and investment relations with Taiwan. Let us seize the opportunities before us, working together to build a resilient, mutually beneficial and enduring partnership.’ In conclusion, I would like to compliment again my colleague MEP Winkler, for his work on this resolution and indeed all the good work he has done in these areas for a number of years now.   – Go raibh maith agat Iuliu agus go raibh maith agaibh a chairde. Míle Buíochas.