Taiwan, EU to boost economic ties to secure chip availability

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.