China should not interfere with commercial dealings between Taiwan and the European Union especially when increased economic resilience between the two sides contribute to the benefit of the global economy, a senior Taiwan minister told CNBC.
Taiwan would pursue a new free trade agreement with the EU should high-level talks with the bloc over the tightening of semiconductor supply chains yield a wider deal, Taiwan’s deputy minister for economic affairs, Chen Chern-Chyi, said Friday.
Semiconductor-powerhouse Taiwan is holding rare ministerial-level discussions with the EU to boost its chip industry and supply chain with Europe, while also engaging with the U.S. on new trade talks. The discussions have drawn the ire of Beijing which has called for all parties to observe the one-China policy.
Taiwan is democratically self-ruled but Beijing claims the island as part of its own territory and has never renounced the use of force to bring the two together.
“Beijing always expresses their opposition to our economic cooperation with our partners but this is for the global benefit, for the welfare of humankind,” Chen said during an exclusive interview on CNBC’s “Street Signs Asia.”
“I think third parties should not intervene or obstruct this kind of positive cooperation between parties.”
Chen said Taiwan’s discussions with the EU and the U.S. were imperative to the resilience of the global supply chains.
To that end, Taiwan regularly looks to shore up its trade dealings with its global partners and the EU is no different, particularly given that the bloc is Taiwan’s fifth largest trading partner with 50 billion euros ($53.8 billion) in bilateral trade. Taiwan is a key supplier of semiconductor chips to many European manufacturers, Chen added.
The Taiwanese official also said he is not expecting a backlash from…
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