The European Union and Taiwan have set up a platform to work together on semiconductor supply chains. That came after Economy Minister Wang Mei-hua met with the EU’s director-general for trade on Thursday. Taiwan is calling the talks a “major breakthrough” in EU-Taiwan relations.
The new semiconductor platform aims to make sure European manufacturers can buy Taiwan’s world-beating semiconductor chips. One Taiwanese chip giant, TSMC, produces more than 90% of the world’s most advanced semiconductors.
During the pandemic, supply chains for the chips broke down, causing massive production backlogs worldwide for things like cars and consumer electronics.
That prompted the European Union to draft a new law, called the European Chips Act. It aims to boost the EU’s semiconductor industry and prevent future shortages.
The European Union wants Taiwan to help by building production plants in Europe.
After the meeting on Tuesday, Economy Minister Wang Mei-hua said Taiwan is a “reliable partner” in the international semiconductor trade.