TAIPEI (Taiwan News) — President Lai Ching-te (賴清德) on Monday (Nov. 18) called for an economic partnership agreement with the European Union.
Speaking at the Taiwan-EU Investment Forum in Taipei, Lai emphasized the need for the two sides to create a "strong democratic umbrella" to counter growing authoritarianism and establish secure supply chains for global democracies. He said a partnership agreement would provide an institutional framework to deepen cooperation in semiconductors, artificial intelligence (AI), and other advanced technologies, per Reuters.
"Looking to the future, Taiwan hopes to take an innovative approach toward signing an economic partnership agreement with the EU,” Lai said. “This would not only make both our economies more resilient and secure but also ensure the stable operation of global supply chains."
Taiwan Semiconductor Manufacturing Co. (TSMC) has led Taiwan’s investments in the EU. In August, the chipmaker broke ground on a fab in Dresden, Germany, which will play a critical role in supplying European industries and automakers.
The EU has also sought Taiwan as a like-minded partner to strengthen its semiconductor ecosystem. In 2023, the EU passed the European Chips Act to promote domestic production, ensure supply chain resilience, and reduce dependencies on key suppliers in Taiwan, Southeast Asia, and the US.
Taiwan has faced exclusion from many international organizations and agreements. It applied to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in 2021 and signed an Enhanced Trade Partnership (ETP) Arrangement with the UK in 2023.