UK-Taiwan trade talks boost agriculture, energy and pharma
Topics: TAIWAN TRADE AGRICULTURE ENERGY PHARMA UK
UK-Taiwan bilateral trade grew to £6.6 billion last year and ministers pledged to continue strengthening trade links. In today’s talks (Tuesday 1 October) ministers agreed to work together on the UK’s application to export British lamb to Taiwan. Discussion also focused on market access issues and ways to boost cooperation on offshore wind, pharmaceuticals and financial services.
The ministers also celebrated the one year anniversary since Taiwan allowed imports of quality British pork in August 2018. More than £4.58 million of British pork has been exported to Taiwan in the first year.
Trade cooperation on energy is bringing significant opportunities to UK companies. Taiwan is planning to increase its renewable energy production from 4% to 20% of supply by 2025, much of it from offshore wind farms, and as the world’s leading offshore wind producer, the UK is poised to be a key partner in this. More than 18 UK companies in the offshore wind supply chain have already set up offices in Taiwan to further develop the market. ■