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Taiwan – Trade

Taiwan – European Union Economic Relationship

Overview of Bilateral Trade :-

In 2015, the European Union (EU) was Taiwan's 5 th largest trading partner in the world after Mainland China, the U.S, ASEAN, and Japan. Trade between Taiwan and the EU accounted for 9.13% of Taiwan's total trade. Taiwan’s exports to the EU were 8.46% of Taiwan's total exports, and Taiwan's imports from the EU were 9.94% of Taiwan's total imports. In 2015, Taiwan ranked 22 st in terms of EU trading partners and was the 6 th greatest trading partner in Asia, after Mainland China (and Hong kong), Japan, Korea, India, and Singapore.

2015 Taiwan-EU bilateral trade amounted to 46.4 billion U.S. dollars, representing a 8.73% decline over the previous year. Taiwan exports to the EU amounted to 23.7 billion U.S. dollars, declining 10.44%, and Taiwan imports from the EU come to 22.7 billion U.S. dollars, declining 6.87%.

The main markets for Taiwan's exports to the EU were Germany, the Netherlands, the U.K., France, Italy, and Spain. The five largest export products were: electrical and electronic information equipment, parts and accessories thereof; nuclear reactor (boilers, machinery and mechanical appliances, and parts thereof); vehicles, and parts and accessories thereof, mineral fuels (mineral oil and distilled products thereof), articles of iron or steel.

Taiwan's main imports from the EU Member States were from: Germany, the Netherlands, France, Italy, the U.K. and Spain. The five greatest imported products were nuclear reactor (boilers, machinery and mechanical appliances); electrical equipment and parts and accessories thereof; optical instruments and apparatus; pharmaceutical products; and chemicals.

Overview of Investment                                                                                                                                                  In US Dollars

Years

Domestic Enterprisesinvesting in EU

EU Enterprises investing in Taiwan

1952 – 2015

5.42 billion (746 cases)

34.09 billion (3,422 cases)

2015

1.95 billion (36 cases)

1.01 billion (275 cases)

2016

783.6 million (25 cases)

1.39 billion (228 cases)

 

The five largest EU Member States investing in Taiwan were the Netherlands, the U. K., Germany, France and Sweden. Major investment industries were finance and insurance, other services, electronic component manufacturing, wholesale and retail industries, and pharmaceutical manufacturing.

The five greatest Taiwanese investments in the EU were in the the U.K., Netherlands, Germany, Italy, and the Czech Republic. Major investment industries were in order to wholesale and retail industries, electronics, computers, and optical products manufacturing, real estate, electrical equipment manufacturing, and finance and insurance.

Future Outlook –

Since the first Taiwan-EU economic and trade consultation in 1981, bilateral consultations on economic and trade issues have been held regularly, with a total of 27 sessions by the end of 2015. Economic and trade relations between Taiwan and the EU have seen substantial and positive progress.

On October 14, 2015, the European Commission published “Trade for all: Towards a more responsible trade and investment policy,” which indicated the possibility of launching negotiations on investment with Taiwan. On July 5, 2016, the European Parliament called on the European Commission to start negotiations on an investment agreement with Taiwan immediately. We welcome this statement and hope that both sides can start negotiation on a bilateral investment agreement soon.

 

 

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