【Epoch Times, December 16, 2024】Taiwan’s Minister of Economic Affairs, Guo Zhihui, led a delegation on the 14th to Europe to hold meetings with European Union officials on Taiwan-EU economic and trade cooperation and industrial collaboration. They will also visit the Czech Republic to assist Taiwanese businesses in expanding their presence in Europe and strengthening key industry supply chains.
The Ministry of Economic Affairs of the Republic of China stated in a press release that “Through bilateral dialogue platforms between Taiwan and the EU, they discuss trade and investment policies and promote industrial cooperation. Minister Guo Zhihui will explore potential cooperation projects with the European side, especially in the emerging AI technology sector which is bringing many new collaboration opportunities.”
Furthermore, the Ministry of Economic Affairs mentioned that in response to changes in the international situation, Guo Zhihui will also exchange views with European counterparts on economic security and supply chain resilience.
Guo Zhihui’s visit will include a stop in Prague, Czech Republic, to attend the unveiling ceremony of the “Taiwan Trade and Investment Center.” The center will provide one-stop services for investment for small and medium-sized Taiwanese enterprises, further deepening investment and supply chain cooperation between Taiwan and the EU.
The Ministry of Economic Affairs of the Republic of China stated that Taiwan and the European Union are like-minded reliable partners, and in recent years, bilateral economic and trade relations have become increasingly close with close interactions between official and private sectors. The EU is Taiwan’s largest source of foreign investment and its fourth-largest trading partner.
According to Central News Agency, during Guo Zhihui’s visit to Europe, he will engage in high-level industry dialogue with EU officials, marking the first physical dialogue record between Taiwan and the EU at the top economic and trade level. The discussions are expected to cover topics such as assisting industries in adapting to the EU Carbon Border Adjustment Mechanism (CBAM), offshore wind power, and economic security.
Taiwan Semiconductor Manufacturing Co. (TSMC) continues its overseas expansion, and since Guo Zhihui took office, the focus has been on promoting overseas policy in countries such as the Czech Republic, Japan, and the United States. Next year, in addition to facing challenges from the new US government policies, Fukuoka in Kyushu, Japan, will resume economic group reorganization to assist Taiwanese factories with overseas expansion efforts.
With the TSMC plant in Germany at its core, an extension has been established with Poland and the Czech Republic to form a semiconductor triangle in Europe. The industrial zones in northern Czech Republic, such as Usti, are close to TSMC’s manufacturing site in Dresden, Germany, thus holding potential for developing a semiconductor industry cluster. Czech Republic, besides having geographical advantages, has actively engaged with Taiwan in recent years and accelerated the completion of the Taiwan Service Center in Prague as the first overseas service point established under the Ministry of Economic Affairs’ overseas policy.
Officials from the Ministry of Economic Affairs of the Republic of China indicated that a preliminary survey showed Taiwanese semiconductor materials, logistics, and component companies are interested in overseas investments. Industrial clusters may form in locations such as the industrial zone in northern Czech Republic and Usti. Czech Republic has excellent engineering talent and has expanded its foreign labor policy to alleviate labor shortages. Poland’s competitive advantages, including land and labor costs, have attracted Taiwanese companies to invest and establish bases.
To understand the needs of local Taiwanese businesses, in addition to visiting industrial zones in the Czech Republic, Guo Zhihui will meet with representatives from the Taiwan Chamber of Commerce in the Czech Republic and other industry stakeholders. Companies like AU Optronics, Quanta Computer, Inventec, Wistron, Delta Electronics, and Compal will be in attendance.
In the future, the Ministry of Economic Affairs of the Republic of China will use the Prague Service Center in the Czech Republic as a window to engage with Czech Republic officials at the official level to assist Taiwanese supply chain manufacturers in overcoming investment barriers. The service center is currently recruiting staff, but due to budget constraints, it is expected to commence operations next year.