President Tsai Ing-wen (蔡英文) once again called for a Business and Investment (BIA) Agreement with the European Union at an event hosted by the European Chamber of Commerce Taiwan (ECCT).
In a speech, Tsai says that after numerous global challenges such as the COVID-19 pandemic and the Russo-Ukrainian war, Taiwan and Europe have emerged as stronger allies. She says many EU member’s parliaments have expressed support for Taiwan, as Europe has learned that Taiwan is one of the most strategically important places in the world. She adds that half of the world’s shipping containers pass by Taiwan, and says maintaining peace across the Taiwan Strait is key to global prosperity.
Tsai says trade between Taiwan and the EU exceeded US$92 billion last year. She says the trade potential between the two sides is enormous and encourages the signing of a BIA between them.
Although Taiwan has long been pushing for a BIA with the EU, a high ranking EU official stated in March that there is no need for a BIA with Taiwan at this time.