Sat, Jul 09, 2016 - Page 3 News List

Government eyes bilateral EU investment agreement

Staff writer, with CNA

The government has expressed hope that the European Commission will soon begin negotiations with Taiwan on the formation of a bilateral investment agreement, after the European Parliament adopted a resolution calling for such talks, the Ministry of Foreign Affairs said.

In a statement released on Wednesday, the ministry said the European Parliament adopted a resolution on Tuesday that asks the commission to begin such talks with Taiwan immediately.

The request was brought up based on a 26-page communication named “Trade for All: Toward a More Responsible Trade and Investment Policy,” which the commission published in October last year, describing it as a new investment approach for the EU.

Taiwan was included in the communication, which states that the EU would explore launching negotiations with Taiwan on investment.

The latest European Parliament resolution reflects its stance in support of the EU policy and its expectations for closer trade and economic relations between Taiwan and the EU, the ministry said.

Taiwan is grateful for the resolution and welcomes it, the ministry’s statement said, adding that the government hopes the EU would start talks on the formation of a bilateral investment agreement as soon as possible.

According to ministry data, the EU is Taiwan’s fifth-largest trade partner and largest source of foreign investment. As of May 31, European companies had invested more than US$37.7 billion in Taiwan.

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