Chip powerhouse Taiwan calls for economic partnership deal with EU

Taiwan President Lai Ching-tae called on Monday to sign an economic partnership agreement with the European Union, saying it would promote cooperation in semiconductors and that the two sides should work together as a democracy. Must work. Trade deals with the European Union, which will be politically important for Taiwan, given its diplomatic isolation and general exclusion from most global institutions and agreements.For its part, the EU is offering Taiwan as a “like-minded” partner under the European Chips Act to encourage more semiconductor production in Europe, despite not having formal ties with the island claimed by China. Encourage and reduce dependence on Asia. At the Taiwan-EU Investment Forum in Taipei, Lai said that in the face of the threat of authoritarianism spreading, Taiwan and the EU should have a”Looking to the future, Taiwan hopes to take an innovative approach to signing an economic partnership agreement with the EU,” he said. Such an agreement would establish a strong institutional foundation for further cooperation in areas such as semiconductors and AI, Lai. “This will not only make our two economies more resilient and secure, but will also ensure the stable operation of global supply chains,” he added.