Taiwan and the United Kingdom sign an enhanced trade partnership agreement to boost economic ties – Asia News

Taiwan and the United Kingdom have signed a landmark Enhanced Trade Partnership Agreement, strengthening their mutual commitment to expanding economic and trade relations.

Office of Trade Negotiations (OTN) of the Executive Yuan mentioned He added that the agreement, the first of its kind between Taiwan and a European country, will focus on key areas such as bilateral investment, digital trade, renewable energy and net zero emissions.

The agreement was signed by Kelly Wu-Chiao Hsieh, Taiwan’s representative to the United Kingdom, and John Dennis, his British counterpart, via video conference from their headquarters. The signing ceremony included statements from Hsieh and Dennis, who highlighted the importance of the agreement as a milestone built on three decades of cooperation, envisioning a future of trade expansion and job creation for both parties.

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John Chen Zhongding, OTN’s chief negotiator, stressed the importance of the UK as the world’s sixth-largest economy with a rich history and leadership in key sectors such as artificial intelligence, automotive, biotechnology, energy and finance. These sectors are considered complementary to Taiwan’s industrial development.

Deng also stressed that with the UK soon to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, strengthening economic and trade relations with the European country is crucial to Taiwan’s efforts to join. This agreement is expected to not only raise Taiwan’s international trade profile, but will also serve as an incentive for other countries to do business with the nation.

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In response to the agreement, the Ministry of Foreign Affairs issued a statement on the same day expressing its satisfaction with the positive development. The agreement is expected to contribute to enhancing global economic security and supply chain resilience, while maintaining a free and open international trading system.

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