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Taiwan's investment in EU hits record high in 2014

Taiwan's investment in EU hits record high in 2014

Taipei, July 14 (CNA) Taiwan's investment in the European Union reached a record high of US$783 million in 2014, making Europe one of the top destinations for Taiwanese foreign investment globally, the Taipei-based European Economic and Trade Office (EETO) said in a report released Tuesday. With total trade in goods between the EU and Taiwan rising 4.1 percent year-on-year to US$783 million in 2014, Taiwan was the EU's 19th-largest trade partner, its 16th-largest source of imports and its 23rd-largest export market, according to the 2015 EU-Taiwan Factfile, which provides a detailed report on EU-Taiwan trade and investment relations. The report also shows that the EU was Taiwan's fifth- largest trading partner, accounting for roughly 9 percent of Taiwan's foreign trade. EU-Taiwan trade in services also continued to surge, increasing by 5.3 percent in 2013 to US$8.74 billion. Moreover, the EU was the most important investor in Taiwan in 2014, with accumulated direct investment accounting for 24.4 percent of all foreign investment in Taiwan. Taiwan's investment in the EU in 2014 also posted an explosive growth of 547 percent year-on-year to reach a record high of US$783 million, according to data compiled by the Investment Commission under the Ministry of Economic Affairs. EETO head Frederic Laplanche said that the EU is the world's largest economic entity, the world's largest single market with 500 million consumers, and the world's largest destination for investment, adding that he hopes the trend of increasing Taiwanese investment in the market will continue. (By Hsieh Chia-chen and Evelyn Kao)


Updated : 2021-09-24 16:59 GMT+08:00