Taiwan President Lai Ching-te on Monday, November 18, 2024, called for signing an economic partnership with the European Union.
According to Reuters, Lai has pushed to sign an investment and trade deal with the EU and said that the relationship between the two democracies would boost corporation semiconductors.
Speaking at a Taiwan-EU investment forum in Taipei, the president mentioned that the country is facing the threat of spreading authoritarianism, and with the “strong democratic umbrella," Taiwan and the EU will build secure supply chains for global democracies.
The EU has been considering Taiwan as a "like-minded" partner under the European Chips Act to increase chip production.
Lai said, “Looking to the future, Taiwan hopes to take an innovative approach towards the signing of an economic partnership agreement with the EU. This would not only make both our economies more resilient and secure but also ensure the stable operation of global supply chains."
Meanwhile, Maria Martin-Prat, deputy head of the European Commission's directorate-general for trade, in a video message to an investment event, did not mention any plans of signing a deal with Taiwan but praised bilateral relations, saying, “Taiwan, a vibrant democracy with an open economy, is a trusted partner for us to promote our economic security.”
The partnership with the EU would give diplomatically isolated Taiwan, which is generally excluded from most global bodies, and the agreement would get international recognition.
