The eighth Taiwan-Poland Economic Consultations concluded Sept. 11 in Taipei City, with both sides pledging to expand economic exchanges and boost industrial and research cooperation in cutting-edge sectors, according to the Ministry of Economic Affairs.
 
Jointly chaired by MOEA Deputy Minister Kung Ming-hsin and Undersecretary of State at the Ministry of Entrepreneurship and Technology Tadeusz Koscinski, the meeting explored avenues for trade promotion and collaboration in fields spanning biotech and pharmaceuticals, green energy, finance and smart machinery.
 
Results include the signing of a memorandum of understanding between interministerial organization InvesTaiwan and the Polish Investment and Trade Agency (PAIH) to strengthen bilateral investment. The same day, PAIH opened an office in Taipei and staged the Polish-Taiwanese Investment Forum for businesses from both sides.
 
Also at the consultations, state-backed Industrial Technology Research Institute and government-run Polish Center for Technology Development (PORT) expressed interest in partnering on nanotechnology, with a focus on developing materials for industrial use as well as cancer treatment and vaccinations.
 
Kung said that since its launch in 2010, the annual meeting has proved an effective platform for deepening commercial and trade tie-ups between Taiwan and Poland. Given the high degree of complementarity between their economies, there are numerous opportunities to boost mutually beneficial collaboration going forward in line with the five-plus-two industrial innovation program, he added.
 
A key plank in the government’s national development strategy, five-plus-two aims to foster the biotech and pharmaceuticals, green energy, national defense, smart machinery and Internet of Things sectors, as well as the circular economy and a new paradigm for agricultural development.
 
Koscinski said that Poland is committed to supporting economic exchanges with Taiwan. New initiatives such as the PAIH office in Taipei and the proposed tie-up between ITRI and PORT will help further enhance cooperation in emerging sectors and foster business and investment links between the two sides, he added.
 
Taiwan and Poland enjoy strengthening economic ties, with bilateral trade volume rising 17.2 percent to US$1.17 billion in 2017, according to the MOEA. More than 30 Taiwan companies have set up businesses and manufacturing operations in Poland, predominantly in the automobile and automotive parts, electrical and electronics, and information and communication technology sectors, the ministry said. (KWS-E)
 
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