Economics Minister Wang Mei-hua (王美花) proposed Tuesday in Washington that Taiwan and the Unites States build “dream teams” in semiconductors, electric vehicles and next-generation communication systems to advance global economic development.
The global chip shortage and inflationary pressure prompted by the ongoing COVID-19 pandemic together with the war between Russia and Ukraine have made it more urgent for Taiwan and the U.S. to enhance cooperation and stabilize global supply chains, Wang said.
Amid the challenges, industrial collaboration between Taiwan and the U.S., especially in the fields of semiconductors, EVs, 5G wireless technology and next generation mobile data connectivity, will be pivotal in driving the global economy, Wang said in her opening remarks at an industrial forum in Washington on Tuesday.
Taiwanese and American companies play crucial roles in the global supply chains of those industries, Wang told the forum co-hosted by industrial players under the Technology Trade and Investment Collaboration Framework (TTIC).
As an example, Wang said, Taiwan serving IC design firms in the U.S. by providing manufacturing capacity has proven to be the most efficient production model in the world.
In the EV industry, Taiwan’s prowess in the information and communications technology (ICT) sectors is viewed by American EV brands as essential to develop control systems and LCD display products for electric vehicles, the minister said.
Meanwhile, Taiwan’s technological strengths in building the infrastructure required for next-generation cellular networks make local companies great partners for American telecommunication and cloud service providers, Wang said.
Wang is leading a delegation to the U.S. from Oct. 9-16, mainly to attend the TTIC meeting on Thursday, the first since the body was established in December 2021 for Taiwan and the U.S. to develop commercial programs and strengthen critical technology supply chains.
Separately, Wang gave a speech titled “Why Taiwan Matters — from an economic perspective” at an event organized by the American think tank Center for Strategic and International Studies in Washington on Tuesday.
During her speech, Wang said Taiwan has played a critical role in the global semiconductor industry on the back of a well-built industry cluster over the past four decades, supported by high quality talent and a sound legal framework for semiconductor intellectual property protection.
Taiwan accounts for 63 percent of the global foundry market, produces 73 percent of high-end semiconductor chips below 7-nanometer and leads the world in R&D efforts to make ultra-advanced 2 nanometer chips, she said.
Any disruption caused to the semiconductor industry in Taiwan could “severely impact the high-tech sectors and economies around the world,” Wang said. “This highlights Taiwan’s interconnectedness with the global economy and demonstrates why Taiwan is so important.”
Wang said that the success of Taiwan’s semiconductor industry also relies on the joint collaboration of the global supply chain, pledging to work closely with global corporate partners, especially the United States to engage in the development of advanced semiconductor manufacturing.
“Without the support of the U.S. EU and Japan in the field of upstream equipment and materials, we would not be able to manufacture the best semiconductor products,” Wang said. “In the future, we are keen to see more cooperation between Taiwan and the U.S.”
Source: Focus Taiwan News Channel