Oct 02, 2018 Politics Comments Off on Taiwan is one of UK’s ‘best trade partners’: President Tsai
Taipei, In light of blossoming bilateral trade and economic exchanges, Taiwan is one of the United Kingom's 'best trade partners,' President Tsai Ing-wen (???) said Tuesday, citing the opening of the Taiwanese market to British pork earlier this year as evidence.
Speaking at a meeting with members of a British parliamentary delegation at the Presidential Office, Tsai said Taiwan and the U.K. held discussions on potential bilateral cooperation in energy and agriculture for the first time in June.
Taiwan decided to open its market to British pork for the first time in August, a move that not only benefited British pig farmers but also provided Taiwanese consumers with new options, the president added.
In addition, visits by dignitaries and senior officials from the two sides has also increased recently, Tsai indicated, mentioning the recent visits to Taiwan by Richard Oliver Faulker, U.K. trade envoy to Taiwan, and George Hollingbery, U.K. minister for trade policy at the Department for International Trade, as well as Taiwan's Legislative Speaker Su Jia-chyuan (???) visiting London July 18-20.
The U.K. is Taiwan's third largest trade partner in Europe while Taiwan is the UK's eighth largest trade partner in the Asia-Pacific region, with two-way trade totaling US$3.93 billion in the first eight months of this year, a year-on-year increase of 6 percent, according to Taiwan's Ministry of Economic Affairs.
In terms of investment, the U.K. is Taiwan's second largest source of capital from Europe with accumulated investment of US$9.19 billion as of the end of May, while Taiwanese investment in the U.K. totaled US$3.09 billion, official statistics show.
Source: Focus Taiwan News Channel
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