EU economist Lai proposes economic accord
The European Parliament has expressed support for an economic partnership deal with Taiwan, yet the European Commission remains hesitant, according to Taiwan's President, William Lai.
Addressing a meeting in Taipei with members of the European Parliament, Lai emphasized that an economic partnership agreement (EPA) would foster mutual benefits, bolster economic security, and boost international competitiveness. He highlighted the strong complementarity between Taiwan and the EU in sectors such as semiconductors, artificial intelligence, and green energy.
Taiwan has long sought to deepen economic and trade ties with Europe, with the current push under President Lai's administration. Although the European Parliament has endorsed the idea of negotiating an EPA with Taiwan, the European Commission has shown caution.
During the meeting at the Presidential Office, Lai acknowledged the European Parliament's resolutions reaffirming support for Taiwan amid escalating provocative military actions from China. Latvian parliamentarian Reinis Poznaks, reflecting on his country's experience with a large, aggressive neighbor, expressed solidarity with Taiwan and underscored the importance of democracies uniting to defend the rule of law.
Swedish parliamentarian Beatrice Timgren echoed similar sentiments, underscoring the significance of close ties between democratic nations in the face of authoritarian threats. The parliamentarians are also scheduled to meet with Taiwan's Minister of Foreign Affairs, Lin Chia-lung, as well as representatives from the legislature, civil society groups, and think tanks.
Outside of Europe, Lai also called for cooperation beyond the continent during a separate meeting with a delegation led by Guam Governor Lourdes Leon Guerrero. Taiwan seeks to work with Guam and the US to strengthen economic ties and explore more opportunities for industrial cooperation.
The European Commission's hesitation in pursuing an EPA with Taiwan stems from the complex geopolitical landscape involving China, reflecting the EU's strategic approach of balancing economic and political interests in the Indo-Pacific region. The Commission's reluctance is a reflection of these geopolitical complexities rather than a lack of economic rationale for the agreement.
- The ongoing war-and-conflicts with China, especially the escalating military actions, have made Taiwan seek the support of democratic nations for strengthening alliances, as demonstrated by Taiwan's President, William Lai, during his meeting with Latvian and Swedish parliamentarians who expressed their solidarity.
- While advocating for policy-and-legislation, such as the economic partnership agreement (EPA) with Taiwan, European Parliament members like Beatrice Timgren from Sweden emphasize the importance of this partnership within the context of general-news surrounding authoritarian threats, recognizing the strategic benefits for both Taiwan and the EU in sectors like semiconductors, artificial intelligence, and green energy.
