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Furthering Taiwan -EU Economic Relations in 2015

Source: Taiwantrade | Updated: 12 January 2015

Over the past years, Taiwan and the EU have continued to develop closer relations in a number of areas, particularly in economy and trade. The EU is Taiwan’s fifth largest trading partner behind China (including Hong Kong), ASEAN, the U.S. and Japan. It was the largest provider of foreign direct investments to Taiwan in 2013.

 

The EU and Taiwan have established a structured dialogue mechanism in the past 25 years. All sorts of trade policy issues, including WTO obligations and issues on bilateral concerns, are addressed through an annual consultation.

 

In order to enhance economic cooperation between Taiwan and EU and also to create more business opportunities for Taiwanese SMEs in the European market¸ Taiwan has shown its willingness to join the EEN (European Enterprise Network). The network was established by the Directorate-General for Enterprise and Industry (DG ENTR) and European Enterprises with the aim of improving competitiveness and business opportunities of European SMEs. The EEN has more than 600 contact points in over 54 countries, including Japan, China and South Korea.
 

 

With its vast experience in assisting Taiwanese SMEs in exploring the global market, TAITRA will play a coordinative role and help form a strategic alliance in the EEN application process with partners from fields of commerce and technology research. Behind this strategic alliance Taiwan hopes to provide a comprehensive service for Taiwanese SMEs to gain resources and benefit from EEN in the areas of technology transfer, innovation and business.

 

The Bureau of Foreign Trade has pointed out that upon joining the EEN, Taiwan will select ICT, renewable energy, biotechnology as flagship industries. Taiwanese SMEs have certain advantages in technology and manufacturing in these industries which are of interest to the EU.
The participation of EEN will usher a new milestone in bilateral trade cooperation between Taiwan and EU. In the future TAITRA will continue to play an important role in helping Taiwanese SMEs to develop their markets in Europe.

 

By Jesse Tai <jessetai@taitra.org.tw>

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