There have been signs of progress in trade relations between Taiwan and the EU, with an EU official on Tuesday saying that the EU has formed a task force to evaluate and conduct exchanges with Taiwan.
The European Commission released The EU Trade Policy Review, which said that the EU plans to expand its relations with Taiwan and is prepared to start negotiations with the nation on investment.
The task force will communicate with Taipei on respective investment policies and evaluate opportunities and challenges after a Taiwan-EU investment agreement is signed, the official said.
Only after a thorough assessment will a request for authorization to negotiate be submitted to the Council of the EU, the official said.
The EU Trade Policy Review said the EU would further expand its two-way trade relations with nations and is optimistic that Asia and Latin America can be the engines for future growth.
In terms of Asia, the EU particularly mentioned that it is prepared to embark on investment negotiations with Taiwan and Hong Kong, report said.
In 2015, the European Commission expressed its intention to negotiate with Taiwan on investment in its blueprint report for future trade and economic strategy.
After two years of preparation, the EU is moving toward the next step, the report said.
As the EU is Taiwan’s fifth-largest trade partner and the largest source of foreign investment, Taiwan has high hopes of starting talks on a Taiwan-EU investment agreement.
Minister Without Portfolio John Deng (鄧振中) in June solicited support for a Taiwan-EU bilateral investment agreement while meeting with members of the European Parliament during a visit to Europe at the head of a Taiwanese economic and trade delegation.
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