President William Lai (賴清德) yesterday called for the signing of an economic partnership agreement with the EU, saying it would boost cooperation in semiconductors and that, as democracies, the two sides should be working together.
Taiwan has pushed for the signing of investment and trade deals with the EU, in what would be politically significant for Taiwan given its diplomatic isolation and general exclusion from most global bodies and agreements.
For its part, the EU has been courting Taiwan as a “like-minded” partner under the European Chips Act to encourage more semiconductor production in Europe and lessen dependence on Asia, despite the lack of formal ties.
Photo: Ann Wang, Reuters
Speaking at the annual EU investment forum in Taipei, Lai said that facing the threat of expanding authoritarianism, Taiwan and the EU must form a “strong democratic umbrella” and build secure supply chains for global democracies.
“Looking to the future, Taiwan hopes to take an innovative approach toward the signing of an economic partnership agreement with the EU,” he said.
Such an agreement would lay a sound institutional basis for further cooperation in fields such as semiconductors and artificial intelligence, he added.
“This would not only make both our economies more resilient and secure, but also ensure the stable operation of global supply chains,” he said.
Taiwanese investment in the EU has been anchored by Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), which in August broke ground on a major new chip plant in Dresden, Germany, expected to be a key supplier to European industry and automakers.
Maria Martin-Prat, deputy head of the European Commission’s directorate-general for trade, made no mention of signing such a deal with Taiwan in a video message to the investment event, although she did praise bilateral relations.
“Taiwan, a vibrant democracy with an open economy, is a trusted partner for us to promote our economic security,” she said.
Taiwan has few free-trade agreements, although last year it signed an Enhanced Trade Partnership with the UK and has applied to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.
The Legislative Yuan’s Finance Committee yesterday approved proposed amendments to the Amusement Tax Act (娛樂稅法) that would abolish taxes on films, cultural activities and competitive sporting events, retaining the fee only for dance halls and golf courses. The proposed changes would set the maximum tax rate for dance halls and golf courses at 50 and 20 percent respectively, with local governments authorized to suspend the levies. Article 2 of the act says that “amusement tax shall be levied on tickets sold or fees charged by amusement places, facilities or activities” in six categories: “Cinema; professional singing, story-telling, dancing, circus, magic show, acrobatics
Tainan, Taipei and New Taipei City recorded the highest fines nationwide for illegal accommodations in the first quarter of this year, with fines issued in the three cities each exceeding NT$7 million (US$220,639), Tourism Administration data showed. Among them, Taipei had the highest number of illegal short-term rental units, with 410. There were 3,280 legally registered hotels nationwide in the first quarter, down by 14 properties, or 0.43 percent, from a year earlier, likely indicating operators exiting the market, the agency said. However, the number of unregistered properties rose to 1,174, including 314 illegal hotels and 860 illegal short-term rental
INFLATION UP? The IMF said CPI would increase to 1.5 percent this year, while the DGBAS projected it would rise to 1.68 percent, with GDP per capita of US$44,181 The IMF projected Taiwan’s real GDP would grow 5.2 percent this year, up from its 2.1 percent outlook in January, despite fears of global economic disruptions sparked by the US-Iran conflict. Taiwan’s consumer price index (CPI) is projected to increase to 1.5 percent, while unemployment would be 3.4 percent, roughly in line with estimates for Asia as a whole, the international body wrote in its Global Economic Outlook Report published in the US on Monday. The figures are comparatively better than the IMF outlook for the rest of the world, which pegged real GDP growth at 3.1 percent, down from 3.3 percent
ECONOMIC COERCION: Such actions are often inconsistently applied, sometimes resumed, and sometimes just halted, the Presidential Office spokeswoman said The government backs healthy and orderly cross-strait exchanges, but such arrangements should not be made with political conditions attached and never be used as leverage for political maneuvering or partisan agendas, Presidential Office spokeswoman Karen Kuo (郭雅慧) said yesterday. Kuo made the remarks after China earlier in the day announced 10 new “incentive measures” for Taiwan, following a landmark meeting between Chinese President Xi Jinping (習近平) and Chinese Nationalist Party (KMT) Chairwoman Cheng Li-wun (鄭麗文) in Beijing on Friday. The measures, unveiled by China’s Xinhua news agency, include plans to resume individual travel by residents of Shanghai and China’s Fujian
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