The 30th annual Taiwan-EU economic and trade consultation meeting concluded Dec. 5 in Brussels, highlighting continued efforts by the two sides to deepen commercial and investment ties, according to the Ministry of Economic Affairs.
Convened by MOEA Vice Minister Wang Mei-hua and Helena Konig, deputy director general of the European Commission’s Directorate General of Trade, the one-day event comprised talks on areas of mutual concern spanning energy policy, pharmaceuticals and medical devices, sanitary and phytosanitary measures, and technical trade barriers.
Major results include the announcement of a bilateral seminar on the importance of safeguarding geographical indications next March in Taipei City. This event will build on positive results from two-way dialogue on intellectual property rights protection over the past year, the MOEA said.
Among the matters addressed in the meeting were EU concerns over the potential impact on its exports from Taiwan’s enactment of the Organic Agriculture Promotion Act in May. The two sides agreed to strengthen collaboration on related certification practices.
According to the ministry, the EU also welcomed Taiwan’s contributions to the ongoing reform of the World Trade Organization and looks forward to further cooperation on trade facilitation.
During the discussions, Taiwan took the opportunity to call for the negotiation of a bilateral investment agreement. This pact will help drive economic growth and job creation for both sides, the MOEA said.
Delegates also exchanged views on the cluster cooperation meeting scheduled for June in Brussels. The fifth edition of the annual bilateral dialogue is expected to enhance networking between small and medium enterprises and industrial clusters in Taiwan and the EU.
According to the EU, trade in goods between the two sides rose 9.8 percent to a record 50.2 billion euros (US$57.43 billion) last year. The EU is Taiwan’s fifth largest trading partner and leading source of foreign investment, which stood at an accumulated 44.67 billion euros as of the end of 2017. (SFC-E)
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