News & Views

  • UK/Taiwan Talks Smooth Way for Increased Trade
    International Trade Minister Greg Hands and Vice Minister of Economic Affairs Mei-Hua Wang

UK/Taiwan Talks Smooth Way for Increased Trade

Jan 15 2018 Read 583 Times

In recent discussions between UK and Taiwan, centred on setting up new sector dialogues on trade in agriculture and energy, Ministers also agreed terms that will make it easier for UK specialist medicines to be used in Taiwan.

UK - Taiwan bilateral trade grew to £5.35 billion last year and the talks were held on the same day (Dec1) that Taiwan’s China Airlines’ new London to Taipei flight begins, re-establishing a direct route between the UK and Taiwan for the first time in 5 years.

International Trade Minister Greg Hands said: “With its vibrant economy and thriving consumer base, Taiwan presents huge opportunities for British companies to strengthen our trade links. Exports to Taiwan grew 21% in the last 5 years, and there’s room for more growth as we satisfy Taiwan’s demand for quality British goods.

During the talks, an agreement was signed which will make it easier for UK and Taiwanese businesses in biotechnology and pharmaceutical fields to protect their intellectual property. This will support leading UK industries like pharmaceuticals, helping companies export products like cutting-edge genetic medicines to Taiwan knowing their rights will be protected.

The ministers also agreed to deepen links between the UK and Taiwan’s leading financial sectors, building on the UK’s £176 million of financial services exports to Taiwan last year. In particular, the UK will offer its expertise in financing renewable energy projects and fintech development in Taiwan.

Vice Minister of Economic Affairs Mei-Hua Wang said: “The UK and Taiwan have a very strong trade and investment relationship and as the UK leaves the EU, Taiwan looks forward both to strengthening bilateral trade flows and to expanding mutual cooperation. We have confidence in the UK economy, the world’s fifth largest and we consider it one of the priority destinations for Taiwanese investment in Europe. We also hope more UK investors make use of Taiwan’s excellent investment environment in the Asia-Pacific region.”

Reader comments

Do you like or dislike what you have read? Why not post a comment to tell others / the manufacturer and our Editor what you think. To leave comments please complete the form below. Providing the content is approved, your comment will be on screen in less than 24 hours. Leaving comments on product information and articles can assist with future editorial and article content. Post questions, thoughts or simply whether you like the content.

Post a Comment




Digital Edition

Lab Asia August 2019

August 2019

In this Issue Articles Mass Spectrometry & Spectroscopy 67th ASMS Conference on Mass Spectrometry and Allied Topics Chromatography Using Gas Chromatography for measuring atmo...

View all digital editions

Events

ACS National Meeting & Expo, Fall 2019

Aug 25 2019 San Diego, CA, USA

Microscopy Conference 2019

Sep 01 2019 Berlin, Germany

BMSS Annual Meeting

Sep 03 2019 Manchester, UK

JASIS 2019

Sep 04 2019 Chiba City, Japan

ICMGP 2019

Sep 08 2019 Krakow, Poland

View all events