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'Third parties should not be interfering in Taiwan's dealings with the EU, the Taiwan minister says

'Third parties should not be interfering in Taiwan's dealings with the EU, the Taiwan minister says

June 6, 2022: China should not meddle with commercial dealings between Taiwan and the European Union, significantly when increased economic resilience between the two sides contributes to the global economy’s benefit, a senior Taiwan minister told CNBC.

Taiwan would follow a current free trade agreement with the EU should high-level talks with the bloc more than tightening semiconductor supply chains yield a more comprehensive deal. On Friday, Taiwan’s deputy minister for economic affairs, Chen Chern-Chyi, said.

Semiconductor-powerhouse Taiwan is holding ministerial-level discussions with the EU to expand its chip industry and supply chain with Europe while engaging with the U.S. on recent trade talks. The panels have drawn the ire of Beijing, reaching for all parties to observe the one-China policy.

Taiwan is democratically self-ruled, but Beijing claimed the island as part of its territory and has not renounced the use of force to bring the two together.

“Beijing always expresses opposition to our economic cooperation with our partners, but this will benefit globally, for the welfare of humankind,” Chen said on CNBC.

Chen said the discussions with the EU and the U.S. were critical to the resilience of the supply chains globally.

To that end, Taiwan examines to shore up its trade dealings with its global partners. The EU is no different, given that the bloc is Taiwan’s fifth-largest trading partner with 50 billion euros in bilateral trade. Chen added that Taiwan is a critical supplier of semiconductor chips to many European manufacturers.

The Taiwanese official said he is not anticipating a backlash from Beijing, but Taiwan’s history of “managing mainland China” will hold them in good stead in managing any fallout.

High-level talks such as the one with the EU help advance Taiwan toward its goals of cutting as many trade deals as possible, which one with the EU.

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