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European Parliament passes report urging promotion of economic cooperation with Taiwan

Report calls for ‘structured dialogue’ with Taiwan, highlights green technology, digital economy, semiconductor industry

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Jan Zahradil, rapporteur on Indo-Pacific strategy in the area of trade and investment, holds a press conference to announce the passing of the report....

Jan Zahradil, rapporteur on Indo-Pacific strategy in the area of trade and investment, holds a press conference to announce the passing of the report....

TAIPEI (Taiwan News) — The European Parliament passed the “Report on the Indo-Pacific Strategy in the Area of Trade and Investment,” calling for the European Union to “launch a structured dialogue with Taiwan” on economic cooperation.

In a press release, the Ministry of Foreign Affairs (MOFA) wrote that the report was passed with 458 votes for, 51 against, and 124 abstentions. This was the sixth pro-Taiwan resolution or report that the European Parliament has passed in 2022, it added.

In the report, the European Parliament urged the EU to deepen economic ties with Taiwan by “signing a memorandum of understanding that benefits both the EU and Taiwan” and begin procedures facilitating a bilateral investment agreement. The European Parliament emphasized green technology and the digital economy in the document, especially highlighting the semiconductor industry.

Additionally, the European Parliament called for “closer cooperation in global health crises and the trading of medical supplies” with Taiwan.

The report acknowledged that Taiwan had submitted a request to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in 2021 and urged the EU itself to consider “a new strategic approach towards the CPTPP as a core element of the EU’s Indo-Pacific strategy,” which includes considering the option of joining the partnership.

MOFA wrote that it “highly welcomes” the news of the European Parliament’s passing of the report. It expressed thanks for the concrete action the European Parliament has continued to take to support Taiwan as a democratic partner as well as to recognize Taiwan’s ability to contribute to key strategic industries.