The European Parliament (EP) Committee on International Trade (INTA) passed a resolution calling on the European Commission and the European External Action Service to commence work for a supply chain agreement with Taiwan on Tuesday.
EP member Iuliu Winkler who drafted the resolution said this reconfirms INTA’s position on the importance of trade and investment relations between the EU and Taiwan. The resolution stated that in 2022, total trade in goods reached 84.2 billion euros (US$89.2 billion) with great potential for these figures to increase.
Winkler added the resolution urged for cooperation in areas that will enhance the EU’s resilience in strategic supply chains, especially those related to green & digital transitions. The document also outlined cooperation opportunities in critical infrastructure protection, combating economic coercion and in economic security.
The resolution is expected to be voted on by the EP in November with high expectations for it to be passed.