I am delighted to be here in Taiwan this week to promote trade with the UK. This is not my first visit to Taiwan. I first came here in 1991 with a backpack, and most recently in 2011 with a suitcase, as a guest of the Taiwan authorities.
However, this is my first time here as a minister, and it comes as Britain builds a new future, from a position of strength, from which it continues to be outward-facing, internationally focused and ready to embrace new opportunities.
I was appointed as [British] minister of state in the Department for International Trade on 15 July, three weeks after British voted to leave the EU. Following that historic decision [British] Prime Minister Theresa May set up the Department for International Trade to be responsible for promoting the UK across the world and ensuring we take advantage of the huge opportunities open to us.
The UK is the fifth-largest economy in the world — the second-fastest-growing major economy in the world last year.
We have been and always will be a trading nation and our overseas partners looking to invest in the UK, such as Taiwan, are guaranteed a strong, business-friendly environment. Quite simply, the UK is a great place to do business and that will not change.
A world leader in financial services, insurance, computer and information services and with a global reputation for creativity, it is perhaps unsurprising that the UK is one of the best places in the world to start and grow a business. Supported by super fast broadband coverage, an integrated transport system and low corporation tax, Britain is truly open for business to entrepreneurs who wish to take advantage of the many strengths the UK has to offer.
Throughout my time here in Taiwan I will be delivering a clear message — the UK will continue to thrive and prosper, it will continue to be a reliable ally and trusted partner, its creativity and innovation will not be diminished in any way. And, we will push for the strongest possible economic links with all important partners around the world, including Taiwan.
The UK and Taiwan have long enjoyed a bilateral trading relationship and this is as strong today as it has ever been, with trade volumes growing by 50 percent over the past five years and total bilateral trade in goods and services reaching ￡5.8 billion [US$7.5 billion] in 2014. Taiwan is currently the UK’s sixth-largest trading partner in the Asia-Pacific region and the UK’s 32nd-largest trading partner globally. From a Taiwanese perspective, we were your third-largest trading partner in Europe last year.
Recent years have seen a massive rise in Taiwanese investment into the UK, with the UK attracting ￡1.2 billion of Taiwanese investment last year, making it the No. 1 investment destination for Taiwan’s investment in Europe last year.
Our education institutions are also world renowned — the UK is home to four of the world’s top 10 universities. We offer foreign students a world-class education at globally respected universities resulting in internationally recognized qualifications and great career prospects. Every year, between 4,000 and 5,000 Taiwanese students choose to study in the UK on long-term courses, and even President Tsai Ing-wen (蔡英文) is an alumna from the London School of Economics. We deeply value the many benefits that foreign students bring to the UK and we believe that studying in the UK is still the best investment future leaders and entrepreneurs can make.
I want us to continue developing, strengthening and expanding the many links the UK and Taiwan share in areas of prosperity, trade, education and culture, now and in the years ahead.
I feel sure I will be here many more times in the future.
Greg Hands is British minister of state for trade and investment.
As the Chinese Communist Party (CCP) and its People’s Liberation Army (PLA) reach the point of confidence that they can start and win a war to destroy the democratic culture on Taiwan, any future decision to do so may likely be directly affected by the CCP’s ability to promote wars on the Korean Peninsula, in Europe, or, as most recently, on the Indian subcontinent. It stands to reason that the Trump Administration’s success early on May 10 to convince India and Pakistan to deescalate their four-day conventional military conflict, assessed to be close to a nuclear weapons exchange, also served to
The recent aerial clash between Pakistan and India offers a glimpse of how China is narrowing the gap in military airpower with the US. It is a warning not just for Washington, but for Taipei, too. Claims from both sides remain contested, but a broader picture is emerging among experts who track China’s air force and fighter jet development: Beijing’s defense systems are growing increasingly credible. Pakistan said its deployment of Chinese-manufactured J-10C fighters downed multiple Indian aircraft, although New Delhi denies this. There are caveats: Even if Islamabad’s claims are accurate, Beijing’s equipment does not offer a direct comparison
After India’s punitive precision strikes targeting what New Delhi called nine terrorist sites inside Pakistan, reactions poured in from governments around the world. The Ministry of Foreign Affairs (MOFA) issued a statement on May 10, opposing terrorism and expressing concern about the growing tensions between India and Pakistan. The statement noticeably expressed support for the Indian government’s right to maintain its national security and act against terrorists. The ministry said that it “works closely with democratic partners worldwide in staunch opposition to international terrorism” and expressed “firm support for all legitimate and necessary actions taken by the government of India
Taiwan aims to elevate its strategic position in supply chains by becoming an artificial intelligence (AI) hub for Nvidia Corp, providing everything from advanced chips and components to servers, in an attempt to edge out its closest rival in the region, South Korea. Taiwan’s importance in the AI ecosystem was clearly reflected in three major announcements Nvidia made during this year’s Computex trade show in Taipei. First, the US company’s number of partners in Taiwan would surge to 122 this year, from 34 last year, according to a slide shown during CEO Jensen Huang’s (黃仁勳) keynote speech on Monday last week.
RSS