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International relations

Taiwan, EU to boost economic ties to secure chip availability

Both sides focus on supply chain resilience in light of Ukraine war and COVID

The European Union is set to upgrade economic ties with Taiwan -- home to major semiconductor companies such as TSMC. (Source photos by Shinya Sawai and Reuters) 

TAIPEI -- Taiwan has welcomed the European Union's plan to strengthen economic relations with the island, as both sides expect closer ties will help safeguard supply chain security, especially in the vital field of semiconductors.

The EU -- Taiwan's biggest source of foreign direct investment -- will upgrade a trade and investment dialogue with Taipei that is scheduled for Thursday, from the technocratic level to the ministerial and director-general levels, EU trade commissioner Valdis Dombrovskis recently told the European Parliament.

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