Vice Economics Minister Shen Jong-chin has called for German businesses to support trade and investment agreements between Taiwan and the EU.
Shen was speaking on Thursday at an annual meeting on trade between Taiwan and Germany. Shen said that Germany has long been Taiwan’s biggest trade partner in Europe.
Germany is currently Taiwan’s ninth largest trade partner worldwide. Bilateral trade has seen a five-fold increase over the past 35 years. Shen said that in 2014, trade between Taiwan and Germany was worth US$15.5 billion, accounting for nearly 30% of Taiwan’s trade with the EU.
Shen said that an Economic Cooperation Agreement and Bilateral Investment Agreement between Taiwan and the EU could boost German machine and auto exports to Taiwan. At the same time, he said that these agreements could spurt Taiwanese investment in Germany.
Shen said that trade and investment agreements between Taiwan and the EU will be beneficial for both sides.