Taiwan’s government has called on the European Union (EU) to begin trade talks at the earliest after the bloc promised to seek a trade deal with the island country as part of its new Indo-Pacific strategy.
On Friday, Taiwan’s Foreign Ministry stated, “We call on the European Union to initiate the pre-negotiation work of impact assessment, public consultation and scope definition for a Bilateral Investment Agreement with Taiwan as soon as possible in accordance with the resolutions of the European Parliament.”
The Ministry added: “As a like-minded partner of the EU’s with core values such as democracy, freedom, human rights and the rule of law, Taiwan will continue to strengthen cooperation in the supply chain reorganisation of semiconductors and other related strategic industries, digital economy, green energy, and post-epidemic economic recovery.”
The EU included Taiwan in its list of trading partners for a potential bilateral investment agreement in 2015. However, both sides failed to initiate talks on the matter. The calls for trade talks gained renewed momentum after the European Commission announced a new strategy to boost its presence in the Indo-Pacific region following the signing of the AUKUS military partnership between the United States, the United Kingdom, and Australia.
On Thursday, the Union adopted a ‘Joint Communication on the EU Strategy for Cooperation in the Indo-Pacific’ after seeking approval from the European Council in April. In its report, the Union said, “It intends to increase engagements with Indo-Pacific partners, based on promoting democracy, the rule of law, human rights and universally agreed commitments, such as those related to sustainable development and climate change.”
“The display of force and increasing tensions in regional hot spots such as in the South and the East China Sea and the Taiwan Strait may directly impact European security and prosperity. There is also an increase in hybrid threats, including on cybersecurity,” the report added.
The EU’s new Indo-Pacific strategy also deemed Taiwan a vital ally to “establish semiconductor supply chains and have a dialogue on data protection.” Similarly, the ‘EU-Taiwan Political Relations and Cooperation’ report passed by the European Parliament Committee on Foreign Affairs on September 1 urged the bloc to initiate an investment pact with Taiwan.
The Union and its members have no formal diplomatic ties with Taiwan due to China’s objections and its one nation policy, restricting the island country from pursuing statehood. Trade talks with Taiwan are likely to infuriate the South Asian giant, also the EU’s second-largest trading partner. Earlier, China opposed the bloc’s report seeking deeper ties with Taiwan, citing the violation of its “One-China principle.”
EU-China ties deteriorated in May after the European Parliament suspended the finalisation of a new investment deal with Beijing amid retaliatory sanctions from both sides. While cancelling the agreement, the Union blamed China for denying the EU companies access to its markets and imposing sanctions on its politicians, scholars, and researchers. Earlier, the bloc sanctioned Chinese officials over human rights abuses against Uyghurs and other ethnic minorities in Xinjiang.
Taiwan Pushes EU to Honour Promise and Resume Trade Talks
On Friday, Taiwan pushed the European Union to initiate trade talks at the earliest. The push comes after the bloc announced a new strategy to counter Chinese influence.
September 20, 2021
SOURCE: ASIANEWS