TAIPEI, Oct 14 (Reuters) – The European Union and Taiwan are democracies with shared values and are pure companions when it comes to semiconductors, a senior EU official mentioned on Thursday, making a pitch for the island’s key chip firms to put money into the bloc.
Tech powerhouse Taiwan, house to firms like Taiwan Semiconductor Manufacturing Co Ltd (TSMC) (2330.TW), has turn into entrance and centre of efforts to resolve a scarcity of chips that has shut some auto manufacturing strains world wide and whose influence is now being felt in shopper electronics too.
While TSMC is constructing a $12 billion chip fabrication plant within the U.S. state of Arizona, it has given no suggestion of curiosity in an identical facility in Europe.
Speaking at a digital Taiwan-EU funding discussion board, Sabine Weyand, director common of the European Commission’s commerce part, mentioned the influence of the chip scarcity on auto makers was a reminder of how important chips are.
“With the European Chips Act, Europe will step up its efforts to increase production, but we also want to cooperate with our like-minded partners including Taiwan,” she mentioned, referring to laws proposed by the fee final month.
“Not only because Taiwan excels in the production of semiconductors, but also because technology is ultimately a question of security. We want the EU’s digital agenda to be shaped together with our like-minded partners and according to our common values.”
Neither the EU nor its member states have formal diplomatic ties with Chinese-claimed and democratically-ruled Taiwan.
Taiwan’s authorities is eager to signal a Bilateral Investment Agreement with the EU, which first included Taiwan on its listing of commerce companions for such a deal in 2015, the yr earlier than President Tsai Ing-wen first grew to become Taiwan’s president, however has not held talks with Taiwan on the problem since then.
Tsai instructed the identical discussion board that Taiwan, with its democracy, freedom and respect for human rights, was a “natural” accomplice for the EU.
“Starting talks on a bilateral investment agreement can be the beginning of an even more concrete partnership for democracies like us.”